Thematic Research Brief

Five Leading Crypto VCs Have 216 Portfolio Projects Marked as Shut Down

R
RootData Research
Sep 20, 20263 min

Coinbase Ventures, YZi Labs, Pantera Capital, a16z, and Paradigm together cover 993 unique portfolio projects, of which 216 have been marked as shut down — a combined rate of 21.75%.

Five Leading Crypto VCs Have 216 Portfolio Projects Marked as Shut Down

Discussion around shutdowns among a16z-backed projects has intensified. According to RootData funding data, after removing duplicates, Coinbase Ventures, YZi Labs, Pantera Capital, a16z, and Paradigm together cover 993 unique portfolio projects, of which 216 have been marked as shut down — a combined rate of 21.75%.

By firm:

· Pantera Capital: 24.76% (51/206)

· Coinbase Ventures: 22.69% (98/432)

· a16z: 20.09% (43/214)

· Paradigm: 19.49% (23/118)

· YZi Labs: 13.56% (32/236)

Although a16z has been at the center of the discussion, it does not have the highest shutdown rate in the sample. Among its 148 lead investments, 29 have been marked as shut down (19.59%), including Linera, which recently closed, and Universal, which has entered a shutdown process. The figures suggest that even a lead check from a top-tier firm does not remove operating risk.

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