kaal:claim:3606663-008

ICO issuance exceeded venture capital financing of startups for the first time in the second quarter of 2017, with $210 million invested through ICOs against $180 million invested through traditional venture capital funds.

In the second quarter of 2017, ICO issuances exceeded venture capital financing of start-ups for the first time,56 with $210 million invested in ICOs versus $180 million invested into start-ups via traditional venture capital funds.

Kaal, Digital Asset Market Evolution (2020), 3. Venture Capital, p. 18
https://ssrn.com/abstract=3606663 · source PDF

Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

• second quarter of 2017
• blockchain and crypto startups

empiricalsupport: evidencedsecurities-lawinnovationeconomics

• restates kaal:claim:3067615-014 In the second quarter of 2017 ICO issuances exceeded venture capital financing of start-ups for the first time...
• supports kaal:claim:3067615-015 The trend of ICO issuance exceeding venture capital financing can be expected to continue, because ICOs alloca...
• supports kaal:claim:3406323-005 ICOs changed the venture funding market because they provide investors liquidity far faster than the tradition...
• supports kaal:claim:3406323-006 During the ICO boom years the venture capital market in the decentralized technology sector ground to a halt, ...

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