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New research from venture capital firm Trammell Venture Partners (TVP)<\/a> highlights continued growth in bitcoin native startup activity, with nearly $1.2 billion raised by early-stage companies between 2021 and 2024. Despite a broader downturn in crypto and tech venture capital markets during 2023 and 2024, Bitcoin-specific startup formation and funding showed resilience, particularly at the Pre-Seed stage.<\/p>\n According to the 2024 edition of TVP\u2019s<\/a> Bitcoin-Native Venture Capital Landscape Research Brief<\/em>, Bitcoin Pre-Seed startup transaction volume rose 767% compared to 2021, signalling a maturing and sustained venture category. In 2024 alone, Pre-Seed transaction counts increased 50% year-over-year, while the overall deal count for Bitcoin-native startups grew by 31.8%.<\/p>\n \u201cOne or two years\u2019 data might represent an anomaly, but with four consecutive years of year-over-year growth at the earliest stage of Bitcoin startup formation, the data now confirm a sustained, long-term venture category trend,\u201d said Christopher Calicott<\/a>, Managing Director at TVP<\/a>.<\/p>\n TVP defines a Bitcoin-native<\/em> company as one whose product success is inherently aligned with Bitcoin\u2019s success and which leverages the Bitcoin protocol stack in its core operations.<\/p>\n While overall venture capital dollars in the crypto sector declined, TVP\u2019s findings show that Bitcoin-specific investments bucked the trend. In 2024, Bitcoin-native deals made up a growing share of venture activity, with notable participation from institutional VC firms such as Draper Associates, Founders Fund, Y Combinator, and Ribbit Capital.<\/p>\n TVP\u2019s report excluded mining<\/a> operations and late-stage outlier deals to focus on early-stage software and infrastructure startups. The data set includes activity from 2021 through 2024 and aims to offer clarity to allocators seeking long-term exposure to Bitcoin\u2019s startup ecosystem.<\/p>\n The full report is available for download via TVP\u2019s official website.<\/a><\/p>\n<\/p><\/div>\n<\/div>\n