Rarely do I come across a new data tool that adds a significant amount of new value to my research process. Yet after reading through Robin Ji's post on SAFEs + Token side letters, I learned of a new data resource, called Dove Metrics, that compiles huge amounts of useful data on capital raises in crypto, M&A deals, venture funds, angel investors, and more.
Lets go over what their data displays section by section.
Latest fundraising rounds for both companies and funds
This one tab is the best place to go in order to track the latest capital raises in crypto. Not only is the amount, who invested in the round, and the category identified, but the database also gives a brief description of what each of these projects do.
Glancing through this tab, one can quickly discern what type of crypto projects have been successful in raising capital, what category/sub category they are in, and who they have raised capital from. The alternative to this display is manually looking up capital raises on crunchbase, which is a complete pain.
Not only does the database track fundraises for crypto projects, but it also tracks fundraises for crypto funds in the next tab over. More than $31 billion has now been raised by crypto funds.
Yet fundraises are not the only metrics tracked by this database. In fact, all crypto M&A activity is also compiled on Dove Metrics. While the amounts for most of the deals is left blank, I still find it incredibly useful to be able to see what companies have been acquired.
From a macro perspective, more than $43 billion worth of acquisitions in crypto have taken place since 2016 according to Dove Metrics.
While I already pointed out that Dove Metrics tracks capital raises for crypto funds, the site also compiles data that estimates an existing fund's AUM. Through this data, I can quickly gauge who are the largest funds in crypto.
These numbers are likely not 100% accurate, but one can gain a rough estimate of a fund's AUM by sifting through this data.
Crypto Companies Subcategories
Another super useful tab on this website is the crypto companies subcategories tab. Depspite being pretty basic, seeing an overview of how many crypto companies are within a particular sub-industry is useful information in gauging how competitive that sub-industry is.
Of course, you will need to double check the categorization, as 2 projects in DeFi is just not correct.
Angel investors tab
The last tab I find particularly helpful is the Angel Investor's tab. Through this tab, I can get a quick sense of the positions of angels in crypto. This information is especially useful if I were to gauge these angel's interest in a project I am looking to allocate capital towards or a project I was opting to join.
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