Today LeadBlock Partners, the venture capital firm focused on European enterprise blockchain startups, published a report on the sector. In addition to discussions with twenty experts, it features a survey of 200 enterprise blockchain startups. But the findings show a cash strapped set of young companies representing an opportunity for investors and a challenge for the sector. These 200 firms alone have a need for €350 million ($395m) in the next 18 months.
Based on our own coverage, a significant proportion of promising enterprise blockchain startups are based in Europe. The report says that venture capital blockchain funds in Europe have less than €100 million ($113m) in assets under management. That compares to more than $2 billion in the U.S. with Andreessen Horowitz alone accounting for $865m.
The report mentions U.K. based startup Everledger, which is one of the funding success stories having raised $20 million nine months ago, led but China’s Tencent. Few if any of its backers are European.
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