Trammell Venture Partners’ annual report shows growth in Bitcoin startups
Austin, Texas-based Trammell Venture Partners (TVP) has released their annual report, which shows a surge in the Bitcoin startup scene, particularly in the pre-seed stage, with a 360% increase in transactions year-over-year. This growth comes despite a downturn in overall crypto venture investment in 2023. TVP's research shows that early-stage Bitcoin companies have raised nearly $1 billion in two years.
Growth in Bitcoin-native venture deals
Christopher Calicott, managing director of TVP, highlighted that founders are increasingly interested in building on Bitcoin, driven by improved technology and infrastructure. In 2023, there was a 69.2% growth in Bitcoin-native venture deals, in contrast to a 35.3% decline in broader crypto venture deals. Nevertheless, crypto ventures continue to lead in the total number of deals and investment amounts.
The Future of Bitcoin Venture Investing
Calicott pointed to Bitcoin's market dominance and expects more investor allocations to Bitcoin-native ventures due to the expanding Bitcoin design space and the success of early-stage Bitcoin startups. TVP continues its support of venture capital insights and launched the first Bitcoin-focused fund series in 2021. Their research report on the Bitcoin venture capital landscape is available for download and provides detailed information on investment opportunities in Bitcoin-native technologies.
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