Web3 fundraising in July 2025 was a hot one, with over $7 billion raised across 171 deals, the highest monthly total of the year so far. From memecoin platforms to enterprise payment rails, the capital flow was as diverse as it was intense, spanning AI data co-ops, persistent-world shooters, and DeFi leverage strategies. The July 2025 Web3 Fundraising activity offers a snapshot of the current Web3 venture capital trends: speculative spectacle on the surface, but selective discipline underneath.
Author: Robert Osborne | X | LinkedIn | Substack
Web3 Fundraising Market Overview July 2025: Peak Summer, Peak Capital
Figure 1: Capital deployed and deal count across all Web3 venture capital stages, from January 2018 to July 2025, represented per quarter. Note: ‘disclosed’ refers to those deals whose details have been published, including the fundraise amount and investors included in the round. Source: Messari, Outlier Ventures.
- Total Capital Raised (Disclosed): $7.07b
- Disclosed Deals: 134
- Total Deals: 171
Web3 fundraising in July 2025 surged on the back of a handful of monster raises, most notably a $600 million public token sale. Infrastructure, gaming, and payments all posted significant activity, but the standout deal came from the speculative side of the market.
Market Highlight: pump.fun ($600m, Public Token Sale)
Pump.fun has made launching a token as easy as creating a meme account: zero trading fees, instant creation, and bonding curve tracking. It’s been called the “Shopify of speculative assets,” and with $600 million raised via a public token sale, demand for frictionless on-chain trading tools is clear. Whether this signals a new “token as a tweet” culture or just a lucrative exit for early adopters, it’s a case study in the viral potential of crypto-native platforms.
New Web3 Venture Funds: Fewer, Fatter
Figure 2: Number of Web3 venture capital funds launched and the amount raised by these funds, from January 2020 to July 2025, represented per quarter. Source: Messari, Outlier Ventures.
New Funds in July 2025:
- 50T Fund V – $500m: The global-scale fintech + crypto crossover vehicle.
- Propel Venture Partners Fund V – $100m: Banking and payments-focused innovation plays.
- Ego Death Capital Fund III – $100m: Still Bitcoin-first, but with a growing appetite for infra.
- Ondo Catalyst – $250m: Ondo’s war chest to accelerate the RWA and on-chain yield ecosystem.
July saw no micro-funds, only heavyweight Web3 venture funds, each with nine-figure commitments. The trend was clear: investors favoured large-scale funds targeting payments, infrastructure, and real-world assets (RWAs).
Pre-Seed Web3 Fundraising July 2025: Data as a Collective Weapon
Figure 3: Capital deployed and deal count at pre-seed stage from January 2018 to July 2025, represented per quarter. Source: Messari, Outlier Ventures.
- Total Capital Raised: $10.9m
- Disclosed Deals: 7
- Median Round Size: $1.56m
Pre-seed Web3 funding in July 2025 focused on mission-driven infrastructure at the intersection of AI and crypto. While the ~$11 million total across 7 deals kept round sizes modest, conviction was high in projects tackling data provenance and compliance.
Pre-Seed Highlight: Data Guardians Network ($5m)
Data Guardians Network turns human input into compliant, bias-audited training data for AI, rewarding contributors in stablecoins. In a Web3 market obsessed with AI model quality, they’re offering “provenance as a service,” addressing both enterprise privacy needs and blockchain transparency.
Seed Web3 Fundraising July 2025: Building Worlds Worth Fighting Over
Figure 4: Capital deployed and deal count at seed stage from January 2018 to July 2025, represented per quarter. Source: Messari, Outlier Ventures.
- Total Capital Raised: $156.1m
- Disclosed Deals: 20
- Median Round Size: $7.81m
Seed-stage Web3 startups remained strong in July, raising $156 million across 20 deals with a median round size of almost $8 million. The bulk of this capital went to AAA gaming studios focused on persistent worlds, dynamic economies, and player-owned assets.
Seed Highlight: Distinct Possibility Studios ($30.5m)
Founded by MMO and FPS veterans, Distinct Possibility Studios is building Reaper Actual, an open-world persistent shooter with tactical combat, crafting, faction warfare, and a player-driven economy. The $30.5 million seed round reflects investor conviction in blockchain-powered gaming experiences.
Series A Web3 Fundraising July 2025: Scaling Payments for the Web2.5 World
Figure 5: Capital deployed and deal count at Series A stage from January 2018 to July 2025, represented per quarter. Source: Messari, Outlier Ventures.
- Total Capital Raised: $338.6m
- Disclosed Deals: 18
- Median Round Size: $18.8m
Series A Web3 funding in July 2025 skewed heavily toward infrastructure bridging Web2 and Web3, particularly in compliance and cross-border payments.
Series A Highlight: KUN ($50m)
KUN aims to be the “Stripe of emerging markets,” providing integrated Web2/Web3 payment solutions with compliance built in. Its $50 million Series A underscores strong investor appetite for scalable crypto payment infrastructure that hides blockchain complexity from the end user.
Token Fundraising July 2025: The Quiet Giant of Private Sales
Figure 6: Capital deployed and deal count for Private Token Sales from January 2020 to July 2025, represented per quarter. Source: Messari, Outlier Ventures.
- Total Capital Raised: $48.5m
- Disclosed Deals: 2
Private Token Sale Highlight: ETH Strategy ($46m)
ETH Strategy raised $46 million in a private token sale, offering leveraged ETH exposure through on-chain convertible notes. By splitting debt and conversion optionality, the model tracks ETH upside while reducing liquidation risk, a potential game-changer for DeFi traders seeking capital efficiency.
Recruiting Now: Injective Ecosystem Builder Catalyst
If there’s one clear signal from the data, it’s this: early-stage capital hasn’t vanished, it’s become more selective. Investors are backing sharper narratives, stronger infrastructure, and founders who know how to align with powerful ecosystems.
That’s exactly what the Injective Ecosystem Cohort is designed for.
Whether you’re building the next generation of DeFi protocols, unlocking cross-chain liquidity, or innovating at the edge of trading, derivatives, and decentralised infrastructure, we help early teams turn conviction into traction inside one of Web3’s most powerful ecosystems.
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Web3 Fundraising in July 2025: Closing remarks
Web3 fundraising in July 2025 will be remembered as a month of contrasts. The headline number — over $7 billion raised across 171 deals — suggested exuberance, but the reality was more uneven. A single speculative outlier inflated the scoreboard, while the bulk of capital flowed cautiously into infrastructure, payments, and gaming. The pattern fits the broader arc of 2025: selective, disciplined, and tilted toward systems that entrench control rather than scatter risk. For founders, the message is clear: serious capital is still available, but it gravitates toward inevitability, not experimentation.
