COVID has not slowed crypto M&A. To wit, the worth of trade acquisitions within the first half of 2020 has already surpassed that of full 12 months 2019, based on a report launched Thursday by PricewaterhouseCoopers (PwC).
Round $597 million was spent in 60 offers within the first half of 2020, in comparison with $481 million spent in all of 2019 for 125 offers, based on knowledge that PwC aggregated from M&An information corporations MergerMarket, Capital IQ, Crunchbase and Pitchbook.
That stated, the acquisition of CoinMarketCap by Binance for a reported $400 million was one of many largest buys ever recorded within the trade.
This 12 months is on observe to rival 2018’s $1.9 billion complete spent on acquisitions within the crypto house. The typical dimension of a deal in 2019 was $19.2 million in comparison with $45.9 million in 2020.
The acquisitions for the primary half of this 12 months have been pushed by a rise in transactions involving crypto exchanges and buying and selling infrastructure, and native crypto corporations proceed to be essentially the most lively purchasers within the house.
The typical quantity of fundraising offers has additionally elevated from $4.eight million in 2019 to $6.Four million within the first half of 2020, with a heavy emphasis on buying and selling corporations.
Seed rounds nonetheless closely dominate fundraising offers within the trade, making up 57% of 2019’s offers and half of H1 2020’s offers.