Data: YZi Labs, a16z, and 5 other leading crypto VCs have announced a total of 216 invested projects that have ceased operations, with Pantera Capital having over 24% of its investments already ceased operations

Recently, discussions surrounding the shutdown of projects invested by a16z have intensified. According to RootData's investment and financing data, after deduplication by project, five institutions—Coinbase Ventures, YZi Labs, Pantera Capital, a16z, and Paradigm—cover a total of 993 independent invested projects, of which 216 are marked as shut down, accounting for a cumulative rate of 21.75%.

Looking at the institutions individually, Pantera has a shutdown rate of 24.76% (51/206), Coinbase Ventures has 22.69% (98/432), a16z has 20.09% (43/214), Paradigm has 19.49% (23/118), and YZi Labs has 13.56% (32/236).

Although a16z is at the center of public opinion, it is not the institution with the highest shutdown rate in the sample. Among its 148 lead projects, 29 are marked as shut down, accounting for 19.59%, including Linera, which recently announced its closure, and Universal, which announced it is entering the shutdown process, indicating that even leading institutions cannot eliminate operational risks for projects.