From September 2021 to June 2022, the South Korean electronics manufacturer invested in 13 startups

Samsung becomes leader in the number of investments in crypto projects

19.09.2022 - 10:30

235

2 min

What’s new? Research firm Blockdata analyzed investments in blockchain and cryptocurrency startups by large corporations from September 2021 to mid-June 2022. According to the report, South Korean electronics manufacturer Samsung was the most active, having invested in 13 companies. The next most active is United Overseas Bank, which invested in 7 companies, followed by financial conglomerate Citigroup and investment bank Goldman Sachs, which invested in 6 and 5 projects, respectively.

Source: News.bitcoin.com

What does the analysis say? Data on the exact amount invested by each company is unknown, but Blockdata’s analysis provides an estimate of the total amount that all corporations have invested. The report states:

“The 40 companies invested approximately $6 billion into blockchain startups between September 2021 and June 2022. Because some rounds involve participation from multiple investors, it is unclear how much each company invested in a project.”

As for the corporations that were heavily involved in the biggest funding rounds, Alphabet, Google’s parent company, tops that category with $1,51 billion in investments. Investment firm Blackrock is in second place, having participated in three funding rounds in which $1,17 billion was raised. Financial conglomerate Morgan Stanley is in third place, having participated in two rounds in which $1,1 billion was raised. Samsung is in fourth place with $979 million.

In April, Samsung and investment firms Coentry Investment and NH Investment invested $25 million in the South Korean developer of the TwinWorld metaverse, startup DoubleMe, in a Series A round. In August, seven large brokerage firms in South Korea began preparations to create their own crypto exchanges, which will be launched in the second half of 2023. The firms, which include Mirae Asset Securities and Samsung Securities, submitted applications for preliminary approval of virtual asset exchange platforms.

Author:

Tatiana Darda Tatiana Darda

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