May 1, 2020 Report details how UK blockchain companies are focusing on equity fundraising.

A new report, published on Thursday by the Venture Capital fund, MMC Ventures, details how blockchain and cryptoasset companies in the UK are focusing on fundraising through equity rather than token deals. The report states that companies raised £168 million ($210 million) in 2019 through equity raises, representing the second-highest year-to-date, while ICO fundraising totaled £200 million ($251 million), down from £700 million ($880 million) in 2018. However, of the 2,700 blockchain companies founded in the UK since 2008, just 9% have raised capital through equity deals. Asen Kostadinov, a Research Manager at MMC Ventures commented that “While capital may be less abundant than it was during the ICO bubble, resources are being deployed more efficiently and targeted at fundamental areas of the technology stack”.