Truth Ventures urges new test for seed startups
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- Truth Ventures CEO Varun Datta says seed startups should not be judged by recurring revenue.
- Galaxy recorded $4 billion across 355 crypto venture deals in the first quarter.
- Later-stage companies received 57% of invested capital during the quarter.
Truth Ventures CEO Varun Datta says seed crypto startups should not be judged by recurring revenue.
Galaxy recorded about $4 billion across 355 crypto and blockchain deals in the first quarter.
Datta said early investors should instead assess founders, products and the problem they aim to solve.
He said products should solve real problems rather than rely on tokens as their main fundraising tool.
Later-stage companies received 57% of crypto venture capital in the first quarter, leaving 43% for younger businesses.
US companies received 70.2% of crypto venture capital during the quarter, while pre-seed deals made up 19% of completed deals.