Samsung Most Active Investor in Crypto and Blockchain Startups: Report
Samsung has invested in 13 crypto and blockchain companies
between September 2021 and mid-June 2022, making the South Korean corporation
the most active among the top 40 corporations. Google’s parent firm, Alphabet,
tops the list of companies that participated in the biggest funding rounds
among the top corporations.
40 Corporations Invest USD 6 Billion
In the research firm Blockdata’s analysis of investments in
blockchain and crypto startups by top corporations between September 2021 and
mid-June 2022, the South Korean electronics giant Samsung has emerged as the
most active, having invested in 13 companies. United Overseas Bank, which
invested in 7 companies, is the next most active and is closely followed by two
American financial services giants, Citigroup (6) and Goldman Sachs (5).
The number of crypto and blockchain startups funded by Samsung,
United Overseas Bank, Citigroup, and Goldman Sachs in the period under review
is nearly half (31) of the total number of startups (65), which raised capital
from the top 40 corporations, as shown by the analysis.
While the data on the exact amount invested by each corporation
is unavailable, Blockdata’s analysis still gives an estimate of the amount that
was invested by all the corporations.
"The 40 companies invested approximately USD 6 billion into
crypto and 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," reveals Blockdata’s research
report.
Of the corporations that were active in the
biggest funding rounds, Alphabet, the parent company of Google, tops this
category after it participated in rounds that raised under USD 1.51 billion.
Blackrock is in second place, having participated in three funding rounds in
which USD 1.17 billion was raised.
The American financial services giant Morgan Stanley occupies
the third spot, having participated in two rounds of USD 1.1 billion, while
Samsung is in fourth place with USD 979 million.
Corporations Invest in NFT Companies
Blockdata's report shows that 19 of the companies receiving
funding were in "some form of non-fungible token (NFT) solutions and
services." Twelve are marketplaces, while eleven are in the business of
providing gaming services.
Explaining the different investment approaches of the top
corporations, the research firm said:
"Samsung is placing bets across the blockchain ecosystem,
investing in companies focused on 15 different use cases, such as blockchain
services, development platforms, NFT, and social networks. On the other hand,
Alphabet and Blackrock are showcasing a completely different strategy by making
concentrated bets on a smaller set of companies."
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