<p>At the end of the recent <a href="https://blockchainreporter.net/glossary/bear-market/" rel="noopener noreferrer nofollow">bear market</a> of <a href="https://blockchainreporter.net/tag/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a>, 1kx (a fund of cryptocurrency that is supported on the behalf of Qredo, Gnosis, and Matter Labs) conducted an invite-only summit for crypto as included in the Berlin Blockchain Week of 2019. An invitation was extended by Lesse Clausen (the founding partner of 1kx) to the majority of VCs in his knowledge, targeting to provide them with knowledge regarding <a href="https://blockchainreporter.net/glossary/blockchain-3-0/" rel="noopener noreferrer nofollow">blockchain technology</a>.</p><h2 id="header-0">European Venture Capitals Move ahead to Launch Crypto Funds</h2><p>As per him, venture capitals in Europe were completely inactive in the case of <a href="https://blockchainreporter.net/blockchain" rel="noopener noreferrer nofollow">blockchain</a>. He mentioned that this points toward the insufficiency of the mandate from the limited collaboration agreement thereof to purchase tokens. After witnessing the progress made in the previous year, VCs in Europe are now planning the launch of <a href="https://blockchainreporter.net/tag/crypto/" rel="noopener noreferrer nofollow">crypto</a> funds as well as experiencing token exposure because an elevation is being witnessed in the blockchain scene of Europe.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/c6b57a84a2a64dd0a04b8d07f3c3915e.png" /></p><p>Asian region had been suppressed by Europe in the worldwide contribution to blockchain-based venture funding which has been collected during the 2nd quarter of 2022, with an increase of up to twenty-five percent while the rest of the areas went through a decline. As per the data shared by Dealroom, despite possessing lower capital, the venture companies in Europe are competing with each other in the case of the blockchain contracts that have been effectively accomplished by them.</p><p>The local <a href="https://blockchainreporter.net/glossary/web-3-0/" rel="noopener noreferrer nofollow">Web3-based</a> venture platforms have also been coming to the front. In 2021, a crypto fund of up to $160M was closed by Greenfield with a Dutch company Maven 11’s fund of nearly $120M following suit. In April this year, it was reported that Fabric Ventures has a strategy to close a couple of Web3 funds having a worth of approximately $245M. In September, an investment fund based in London – Fasaanara Capital – that released a liquid fund of digital assets almost 3 years back, closed a crypto VC and fintech fund of approximately $350m.</p><p>Such advances have taken place even as the limited partners in Europe, being the supporters of the venture capitals, have been moving with their infamously cautious strategy. In February, Cherry Ventures of Germany launched a $34M fund. After that, in the summer, Aglaé Ventures –a company supported on the behalf of Bernard Arnault (the CEO of LVMH) – established a Web3 fund comprising $98M to target the investment in the equity and tokens, as per the people acquainted with the scenario.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/e4c77b6e2e9e4f3f9a34b215dae391c5.png" /></p><h2 id="header-1">Despite the Crypto Downturn, Crypto Venture Sector in Europe Keeps on Flourishing</h2><p>Crypto ventures are making progress despite the challenges that are being faced with venture capitals in a few different jurisdictions. This is because banks are refusing to support crypto ventures due to certain risks, such as money laundering. The majority of investors believe that the cryptocurrency venture space in Europe will continue to develop over the course of the following years. Even though the economy as a whole is in a state of decline, businesses are still consistently raising capital, and in the first half of this year they reached a record high of $20,1 billion.</p>

Venture Capitals in Europe Eventually Decide to Release Crypto Funds

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