Wintermute CEO: Shifted from "Spray and Pray" Investing, Project Investment Success Rate at Only 4% in 2025
BlockBeats News, January 8th, Wintermute Founder and CEO Evgeny Gaevoy said, "We have evolved from the 'fishing for deals' investment approach of 2021-2022 to today's mere 4% project acceptance rate. Wintermute Ventures completed 23 investments in 2025, mainly leading Pre-Seed and Seed rounds, with investments not aimed at obtaining market-making (MM) rights, completely independent of trading activities."
Wintermute Ventures' post stated that in 2025, they reviewed about 600 companies, with 20% advancing to formal due diligence and 4% of projects receiving funding. The most common financing structures in 2025 were: Equity / SAFE and Token Convertible Notes. The most suitable funding and investment structure will be matched based on the founders' vision for the project's long-term development.
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