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 <p class="is-style-lead">November witnessed an extraordinary leap in the crypto venture capital sector, with funding reaching an unprecedented $1.2 billion. The increase represents a 179% jump from October’s $430 million and a 90% increase year-over-year from $630 million.&nbsp;</p>
 <p>A deeper dive into RootData’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> reveals an interesting dynamic in the number of investment ventures. November saw 92 investment projects in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> sphere, marking a 21% rise from October’s 76 projects. However, this number reflects a 17% drop compared to the 111 projects in November of the previous year.</p>
 <p>The distribution of investments across various sectors within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market also saw notable trends. Infrastructure projects garnered the lion’s share of <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a>, claiming about 30% of the total investment. The projects were followed by defi initiatives, which attracted approximately 13% of the total investment.</p>
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 <p>Highlighting significant <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> events, Phoenix Group, an Abu Dhabi-based enterprise specializing in Bitcoin mining and custody services, successfully raised $370 million through an IPO. Phoenix Group’s IPO will go live on the Abu Dhabi Securities Exchange on Dec. 5th.&nbsp;</p>
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    <p lang="en" dir="ltr">Tomorrow's the big day!<br><br>Join us in spirit as Phoenix Group ushers in a groundbreaking era with our IPO Bell Ringing Ceremony on Dec 5, on the Abu Dhabi Securities Exchange. Keep an eye out for exciting updates from this historic event on the ADX!#PhoenixRising #PhoenixIPO pic.twitter.com/LOjddcgCBw</p>— Phoenix Group (@phoenixgroupuae) December 4, 2023
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 <p>Another major player, Fnality, a blockchain payment company, announced securing $95 million in a Series B <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> round. This round saw notable participation from industry giants such as Goldman Sachs and BNP Paribas, along with other key players like DTCC, Euroclear, Nomura Securities, and WisdomTree.</p>
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    <p lang="en" dir="ltr">We're sure you've heard the news: Fnality has closed a £77.7m Series B round. For more information about our pioneering blockchain-based wholesale payment system pegged, to central bank money, download our new shortpaper.https://t.co/pnfmegFVr9 #FnPS #futureoffinance #DeFi</p>— Fnality International (@fnality) November 22, 2023
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 <p>Adding to the list of significant funding achievements, Bitfarms, a Canadian Bitcoin mining firm, disclosed its successful raise of $44 million through a private placement, further emphasizing the robust growth and investor confidence in the crypto venture capital space during November 2023.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/november-crypto-vc-funding-soars-to-1-2b-surpassing-yearly-average-tbt72567.html">https://thebittimes.com/november-crypto-vc-funding-soars-to-1-2b-surpassing-yearly-average-tbt72567.html</a></p>

November crypto VC funding soars to $1.2b, surpassing yearly average

TheBitTimes

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