Author: Zhao Yue

Among the 21 institutions in the top 15 in terms of financing amount, 4 institutions have a financing amount exceeding 1 billion yuan. In terms of business distribution, there are 8 institutions whose main business is digital assets. Among the 21 institutions, 12 are from the United States and 5 are from China.

American investment institution Digital Currency Group is the most active investment institution in the world, with a total of 14 investments. Genesis Capital and Fenbushi Capital have the largest number of investments among Chinese investment institutions, with 11 investments each.

This report is jointly issued by Zero One Finance, Zero One Think Tank, Digital Asset Research Institute, and Digital Asset Research Center of China Investment Association

Author: Zhao Yue

On October 24, 2019, the Political Bureau of the Central Committee of the Communist Party of China conducted the eighteenth collective study on the development status and trends of blockchain technology. General Secretary Xi Jinping pointed out that blockchain should be an important breakthrough for independent innovation of core technologies. This has injected a "stimulant" into China's blockchain industry, and the blockchain industry has also ushered in new development in China.

With the gradual deepening of the blockchain layout in various countries, in 2019, the blockchain is still a popular investment field for capital.

In order to observe the development trend of the global blockchain field in 2019 and better predict the future development trend of the blockchain, Zeroone Finance and One Think Tank, together with the Digital Asset Research Institute and the Digital Asset Research Center of the China Investment Association, released the "2019 "Global Blockchain Investment and Financing Report", sorting out and summarizing the investment and financing in the blockchain field.

For the convenience of statistics, the report excludes ICO, IEO, STO, mergers and acquisitions, IPO and financing after IPO listing, etc., and analyzes the financing overview of the global blockchain field from the dimensions and amount of financing, financing rounds, industry distribution, etc. Out of the global blockchain field financing rankings.

(1) The amount of financing is characterized by an "inverted V" shape, and the average single financing amount is mostly in the tens of millions

Source: Zero One Think Tank

According to incomplete statistics from Zero One Think Tank, from 2012 to 2019, a total of 1,510 financings occurred in the global blockchain field, and the publicly disclosed financing amount reached 78.22 billion yuan. Among them, 2018 was the "explosive year" of financing in the blockchain field. In 2019, financing in the blockchain field gradually became more rational. Compared with 2018, the amount of financing dropped by nearly 40%. In 2019, the number of financing in the global blockchain field was 543, with a financing amount of 23.83 billion yuan.

Source: Zero One Think Tank

Source: Zero One Think Tank

Observing the specific financing situation in each month of 2019, it can be seen that the amount of financing in 2019 showed an "inverted V-shaped" feature, and the amount of financing fluctuated greatly. Beginning in April, the capital side’s enthusiasm for investment in the blockchain field gradually increased, reaching its peak in July and August, and then showing a downward trend. In December, only 34 financings occurred; the third quarter was the peak of financing, with a total of There were 190 financings with a financing amount of 7.54 billion yuan, accounting for 35% and 35% of the annual financing amount and amount respectively.

From the perspective of the average single financing amount, most of the single financing in the blockchain field in 2019 is at the tens of millions level. Among them, the average single financing amount in January, February, July and December exceeded 100 million yuan, and the rest of the months belonged to the tens of millions level; the average single financing amount in February and December was the highest, both close to 140 million yuan .

Source: Zero One Think Tank

Figure 3 The average single financing amount in the blockchain field in 2019 (unit: 100 million yuan)

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Source: Zero One Think Tank

Regardless of strategic investment, in 2019, financing in the global blockchain field is mainly concentrated in the A round and before the A round, and the number of seed/angel rounds and A rounds of financing accounted for more than 45%. Among them, the number of seed/angel round financing is the largest, accounting for 29% of all financing, followed by A round, accounting for 17.3%; B round and C round of financing are 17 and 13 respectively, accounting for no more than 6% .

Source: Zero One Think Tank

Figure 4 Distribution of global blockchain financing rounds in 2019 (classified by financing amount)

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Judging from the publicly disclosed financing amount, in addition to the strategic investment, the A round of financing received the highest amount of financing, followed by the financing after the C round. Although the seed/angel round raised the largest amount of financing, due to the low amount of single financing, the total amount of financing is relatively low. Low, accounting for 11.8% of all financing amounts.

Source: Zero One Think Tank

Figure 5 Distribution of global blockchain financing rounds in 2019 (by financing amount)

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Source: Zero One Think Tank

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Note: A round includes Pre-A, A and A+; B round includes Pre-B, B and B+; C round and later includes CG round.

From the perspective of the distribution of financing in the primary industry, digital assets and underlying technologies are the most popular investment scenarios in the blockchain field, and the ability of enterprises to implement real economy and financial applications needs to be improved.

Source: Zero One Think Tank

The number of financings related to digital asset-related application scenarios is the largest, with 191 transactions, accounting for over 35%; the number of infrastructure/technology/solution financings ranks second, with 112 transactions, accounting for 21%; blockchain industry service-related scenarios , real economy application scenarios and on-chain application scenarios accounted for 15%, 12% and 8% respectively; financial application scenarios had the least amount of financing, 45 deals.

Figure 6 The distribution of the number of first-tier industry financing in the blockchain field in 2019

From the perspective of the secondary industry classification, digital currency exchanges/platforms are still the most favored by capital parties. In 2019, a total of 116 financings related to digital currency exchanges/platforms occurred, accounting for 21% of the total financing and accounting for 21% of the digital asset-related industries. The proportion of financing exceeds 62%.

Source: Zero One Think Tank

In addition, solution/technical service providers, industry websites & media, blockchain games and digital currency wallets are also popular, with 53, 31, 29 and 20 financings respectively.

Source: Zero One Think Tank

Source: Zero One Think Tank

In addition to being far ahead of other industries in the amount of financing, digital assets are also the most "gold-absorbing" industry. In 2019, the financing amount of digital asset-related application scenarios reached 7.32 billion yuan, accounting for 33% of the total financing of the entire industry. Although the number of financing in financial application scenarios is small, due to the high average single financing amount, the financing amount ranks second in the industry, at 4.84 billion yuan.

Figure 8 Distribution of financing amount in the first-level industry in the blockchain field in 2019

It is worth noting that "insurance + blockchain" has become the "star industry" of the blockchain industry in 2019, with a financing amount of 1.97 billion yuan, ranking second in the industry. The amount of financing obtained in solutions/technical services ranked third, at 1.83 billion yuan.

Source: Zero One Think Tank

Figure 9 Distribution of financing amount in secondary industries in the blockchain field in 2019 (TOP20)

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Source: Zero One Think Tank

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2. 2019 Global Blockchain Financing Ranking List

In terms of financing amount, the publicly disclosed financing amount in China’s blockchain field is less than half of that of the United States. The United States is 11.7 billion yuan, accounting for nearly 50% of the total annual financing; twenty one%.

Source: Zero One Think Tank

The amount of financing in Singapore ranks third in the world, but due to the low amount of single financing, the total amount of financing is far lower than that of the fourth-ranked UK.

Figure 10 Top 10 ranking list of financing regions in the global blockchain field

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Affected by factors such as policy support, economic development level, industrial development foundation, and innovation and entrepreneurship capabilities, China's blockchain company/project financing is mainly concentrated in the Bohai Rim, Yangtze River Delta, Guangdong, Hong Kong, Macao, and Sichuan-Chongqing regions.

Source: Zero One Think Tank

Judging from the regional distribution of financing in the blockchain field in 2019, Beijing has the largest number of financing, with a total of 76 financings. The number of financing is much higher than that of Hong Kong, which ranks second, but the amount of financing in Beijing is lower than that of Hong Kong; In the area with the highest amount, although only 13 financings occurred, the financing amount was as high as 2.46 billion yuan.

Figure 11 Top 10 Ranking List of Financing Regions in China's Blockchain Field

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According to the incomplete statistics of 01 Think Tank, among the 21 institutions that rank in the top 15 in terms of financing amount, 4 institutions have a financing amount exceeding 1 billion yuan. In terms of business distribution, there are 8 institutions whose main business is digital assets. Among the 21 institutions, 12 are from the United States and 5 are from China.

Source: Zero One Think Tank

Among them, among Chinese companies, Zhongan Technology has the highest financing amount of 1.961 billion yuan. It mainly focuses on applying blockchain technology to insurance and other related fields; the second place is "mining machine giant" Canaan Yunzhi.

Table 1 Top 15 ranking of financing institutions in the global blockchain field

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Source: Zero One Think Tank

(4) Top 5 ranking list of investment institutions in the global blockchain field

Ranked second is the Australian investment institution Keyin Capital, with 13 investments; among Chinese investment institutions, Genesis Capital and Fenbushi Capital have the largest number of investments, with 11 investments each, ranking third, among which Fenbushi Capital is the earliest venture capital institution in China that focuses on investment in the blockchain field; the fourth place is also a Chinese investment institution, including NEO Global Capital, Benrui Capital, Consensus Lab and Leading Capital, all of which have conducted 7 transactions invest.

Source: Zero One Think Tank