VC Investors Predict the End of Crypto Winter in Q4 2023, New Report Reveals

InnMind's comprehensive survey of venture capitalists reveals optimism for web3 and crypto investments in 2023 and further, and highlights the most promising startup verticals and blockchain ecosystems.
BARCELONA, Spain - March 28, 2023 - PRLog -- InnMind, the leading deal-origination and data intelligence platform for web3 startups and investors, has released a groundbreaking report, uncovering the investment trends, preferences, and sentiments of 147 venture capitalists actively investing in web3 and crypto startups. The report provides invaluable insights for entrepreneurs and founders in the rapidly evolving decentralized web space, as they navigate the challenges of fundraising and go-to-market strategies in 2023.

Key findings from the report include:
  • Web3 Infrastructure and Crypto Finance (DeFi) top the list of most promising verticals, with 42.9% and 25.0% of VC investors highlighting their potential, respectively.
  • Ethereum, Polygon (MATIC), and Polkadot are the most favored blockchain protocols, attracting 42.9%, 14.3%, and 7.1% of investors' interest, respectively.
  • The majority of VCs plan to either invest in more startups this year (42.9%) or maintain their current investment pace (35.7%).
  • Hybrid investments (equity + tokens) are the preferred investment type for 53.6% of VCs, while 39.3% opt for pure token investments.
  • Over half of the surveyed VCs (53.6%) are open to being the first investor on a startup's cap table.
  • 28.6% of venture capitalists forecast a market recovery by Q4 2023, and an optimistic 14.3% expect the crypto winter to end as early as Q2-3 2023.
These findings reflect the evolving landscape of the web3 and crypto industries, offering crucial data for startups to better understand the investment climate and adapt their strategies accordingly. The report also features exclusive quotes and opinions from leading venture capitalists in the space.

When it comes to fundamental changes in the web3 market, the majority of respondents expect a shift towards mass adoption and more mature projects and products. Investors anticipate a transformation from hype-driven projects to more solid, user-friendly, and consumer-focused products that prioritize seamless onboarding and bringing web2 users into the web3 space.

"InnMind's report presents a unique and valuable perspective on the current state and future trends of the web3 and crypto investment ecosystem," said Nelli Orlova, Founder at InnMind. "Our goal is to empower entrepreneurs and founders with the insights they need to succeed in this rapidly changing landscape."

For more information and to download the full report, visit

Ekaterina Naimushina
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