Venture capital game has changed due to market maturation — VC exec
01.09.2025
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Venture capital (VC) firms have become much more selective with the crypto projects they invest in, representing a shift from the previous cycle due to market maturation, according to Eva Oberholzer, the chief investment officer at VC firm Ajna Capital.
Venture capital game has changed due to market maturation — VC exec
VCs are getting extremely picky with crypto investments—market maturation is forcing a shift from speculative bets to real revenue-generating projects, says Eva Oberholzer, CIO at Ajna Capital. No more memecoin madness; it's all about institutional adoption now.
It's more about predictable revenue models, institutional dependency, and irreversible adoption. So, what we see right now is that crypto is not driven by any memecoin frenzies or other trends, but it's more about institutional adoption.
This mirrors the broader trend of institutional crypto investment, focusing on businesses that actually make money, not just price pumps like in the 2021 bull run.
The traditional financial world demands yield and revenue-producing crypto businesses
Wall Street and big funds are craving crypto projects with stable, predictable revenue. VCs are all over stablecoins, payment infrastructure that racks up fees, and RWA tokenization platforms that mint cash on-chain.
Matt Hougan, CIO at Bitwise, notes that yield is driving Wall Street into ETH—stake a billion dollars, and you're generating earnings. Investors love that. Ethereum dominates with stablecoins, RWAs, and DeFi, all generating fees and financial rent.
#DeFi#RWA#Venture Capital#Institutional investments#stablecoins
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