Study: Samsung Named Active Investor in Crypto & Blockchain Startups

Samsung was the most active of the top 40 companies between September 2021 to mid-June 2022. Google's parent company Alphabet is the top-ranked corporation that participated in the largest funding rounds.

Six Billion dollars invested by 40 corporations

Blockdata, a research firm, found that the South Korean electronics giant Samsung invested in 13 companies between September 2021 to mid-June 2022. United Overseas Bank invested in 7 companies, closely followed by Citigroup (6) or Goldman Sachs (5).

The analysis shows that the number of blockchain or crypto startups funded by Samsung and United Overseas Bank, Citigroup, Citigroup, Goldman Sachs during the period under review is almost half (31), of the total (65) of startups that raised capital from 40 top corporations.

Although the exact amount each corporation invested is not available, Blockdata's analysis gives an estimate of what the total amount was.

"The investment by 40 companies in blockchain startups was approximately $6 billion between September 2021 & June 2022." Blockdata's research report reveals that some rounds may involve multiple investors. It is not clear how much each company invested.

Alphabet, Google's parent company, is the top-ranked corporation in this category. It participated in rounds totalling just over $1.51 billion. Blackrock comes in second, having participated in three rounds of funding that raised $1.17billion.

American financial services giant Morgan Stanley is third after participating in two rounds that netted $1.1 billion. Samsung is fourth with $979 million.

Corporations invest in NFT Companies

Blockdata identified 19 companies interested in funding "some form non-fungible tokens solutions and services" as the most popular. Twelve of these are marketplaces, while eleven are providing gaming services.

The research firm explained the differences in investment strategies by top corporations.

Samsung is investing in 15 different use cases of the blockchain ecosystem, including development platforms, social networks, and blockchain services. Alphabet and Blackrock, on the other hand are using a different strategy to focus their investments on a small number of companies.

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By: Terence Zimwara
Title: Study: Samsung Named Most Active Investor in Crypto and Blockchain Startups
Sourced From:
Published Date: Mon, 19 Sep 2022 07:00:15 +0000

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