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Venture capitalists target blockchain firms in Q3

Early-stage startup funding from some of the top private investors is targeting decentralised finance and Web3 even as overall venture capital investments declined in Q3, according to research firm Pitchbook. Pitchbook’s Emerging Tech Indicator report showed that Web3 firms that were focused on decentralised software projects as well as blockchain-based products and services drew the most capital with USD879m invested across 24 deals during the quarter. Analysts noted that some of the largest deals in the sector were captured by Mysten Labs, which raised USD300m in Series B, and Aptos Labs, which secured USD200m in Series A funding. The two new blockchain networks are expected to compete with established players like Ethereum and Solana.

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