Q4 2021
Emerging Tech Indicator
February 24, 2022
This report was reuploaded on March 1, 2022 to fix an error in a chart on page 10.
Emerging tech investment surges in Q4 as VCs look to crypto
Our Q4 2021 Emerging Tech Indicator tracks early- and seed-stage deals from 15 top VC firms, following the flow of capital across 30 market segments to spotlight the technologies driving early growth opportunities.
The latest installment of the report details the dramatic numbers from Q4, which recorded $10.2 billion invested, up more than $3 billion over Q3.
Key takeaways
Table of contents
Emerging tech investment surges in Q4 as VCs look to crypto
Our Q4 2021 Emerging Tech Indicator tracks early- and seed-stage deals from 15 top VC firms, following the flow of capital across 30 market segments to spotlight the technologies driving early growth opportunities.
The latest installment of the report details the dramatic numbers from Q4, which recorded $10.2 billion invested, up more than $3 billion over Q3.
Key takeaways
- Web3 & DeFi topped deal value for the second consecutive quarter, doubling its Q3 value to reach $2.4 billion in Q4.
- Large rounds surged, with 26 rounds of $100 million or more—nearly double Q3’s record of 14 and well above the historical quarterly average of four.
- Several major deals centered on the integration of blockchain economics with gaming environments, including Q4’s largest round: a $725 million Series B for Forte.
Table of contents
| Introduction | 3 |
| Key takeaways | 4 |
| Deal activity | 5 |
| Areas of investment | 6 |
| ETI segment spotlights | 11 |
| Web3 & DeFi | 12 |
| Fintech | 14 |
| Foodtech | 16 |
| Enterprise SaaS | 18 |
| Health & wellness tech | 20 |
| Other notable activity | 22 |
| Venture activity summary | 24 |
| Emerging tech indicator investor ranking | 27 |