Crypto Bear Market Affecting Venture Capita | BLOG Certified
Venture capital (VC) valuations have been deeply affected by the cryptocurrency bear market, sais Jalak Jobanputra, founding partner of Future Perfect Ventures. Jobanputra commented on the current state of venture capital in the crypto space in an interview with Fortunes' Balancing the Ledger on Feb. 11. When asked whether there is a trend of discounted venture evaluations across the digital currency space, Jobanputra said that "given how much the volumes have decreased in the last year, I wouldn't be surprised if we are seeing valuations come down on the secondary markets for some of these companies." A recent report suggested that shares of crypto finance firm Circle were trading at a 75 percent discount on secondary markets. Jobanputra, who also sits on the board of directors at digital foreign exchange BitPesa, has purportedly invested in crypto- and blockchain-related firms like Civic and Blockstream. Speaking about the company's decision not to invest in initial coin offerings