September VC Monthly Report: Funding Surges Over 71% Month-on-Month, Polymarket Valued at $21B After Securing $300M Investment from Donald Trump Jr.'s Company

According to RootData statistics, there were 61 publicly disclosed Crypto VC investment projects in September 2026, a month-on-month decline of 1.6% (62 projects in August 2026) and a year-on-year decline of 35.1% (94 projects in September 2025). The trend over the past year is as follows:

The sector breakdown for September is as follows: among them, CeFi accounts for approximately 19.4%, DeFi accounts for approximately 22.6%, Privacy accounts for approximately 1.6%, RWA/DePIN accounts for approximately 14.5%, Tool/Wallet accounts for approximately 3.2%, and AI accounts for approximately 12.9%.

Total Crypto VC funding raised in September 2026 was approximately $1.269 billion, a month-on-month increase of 71.1% ($742 million in August 2026) and a year-on-year decline of 79.2% ($6.096 billion in September 2025). The trend over the past year is as follows:

Note: Projects with undisclosed amounts are only counted in the total number of projects, not the aggregate total; meanwhile, since not all financings are disclosed in the same month, the related statistical data may still be revised later. Among them, the top 10 rounds by funding amount are as follows:

Prediction market platform Polymarket welcomed a new round of financing led by risk investment firm 1789 Capital in early September 2026, which has Trump's eldest son, Donald Trump Jr., as a partner. Its post-money valuation reached $2.1 billion, an increase of approximately 40% from the previous round of around $1.5 billion. 1789 Capital had previously invested approximately $200 million, bringing its cumulative commitment to around $500 million.

Félix, a WhatsApp remittance platform targeting Latino immigrants in the U.S., completed a combined $200 million Series B financing to expand stablecoin-settled cross-border remittances into lending and savings. Andreessen Horowitz led $87 million in equity financing, with participation from QED Investors, Castle Island Ventures, Switch Ventures, Contour Venture Partners, and Endeavor Catalyst; additionally, General Catalyst’s Customer Value Fund provided a $113 million credit facility. Users initiate remittances within WhatsApp, which settles in the background using USDC, while recipients receive local fiat currency.

Corporate stablecoin banking platform Jeeves completed a $110 million Series C financing round led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, ParaFi, Vista, Wintermute, and Y Combinator, among others. The funds will be used for stablecoin wallet infrastructure construction, as approximately 50% to 60% of the company’s international payments are currently settled via stablecoins such as USDC and EURC.

Nasdaq Ventures made a strategic investment of $100 million into Payward, the parent company of cryptocurrency exchange Kraken, valuing it at $2.1 billion. This investment builds on the partnership announced in March: Kraken will distribute stocks of Nasdaq-listed companies representing RWAs on its own platform, and both parties plan to launch the relevant market infrastructure in the second quarter of 2027.

MoonPay acquired the U.S. private market infrastructure platform North Capital in an all-stock transaction valued at over $60 million, rather than a traditional cash financing. The transaction remains subject to regulatory approval. Upon completion, North Capital will become a wholly-owned subsidiary, bringing with it registered broker-dealer, alternative trading system, transfer agent, and investment advisory businesses under the U.S. Securities and Exchange Commission to support RWAs and on-chain capital markets.

Blockchain market data provider Kaiko completed a new $57 million financing round led by S&P Global, expanding its total Series B financing to $110 million. Participating investors include Coinbase Ventures, Nasdaq Ventures, BNP Paribas, Bpifrance, Broadridge, DRW, Royal Bank of Canada, and Susquehanna, among others. The funds will be used to enhance on-chain market data, indices, and data infrastructure, and to collaborate with S&P Global on providing digital asset indices.

The World Foundation announced that its subsidiary, World Assets, Ltd., completed a total of $49 million in over-the-counter (OTC) sales of its WLD token over the past month, with all sold tokens subject to a one-year lock-up period. Some transactions have already closed, with the delivery and settlement of the remaining WLD expected to be completed during the week of the announcement.

USD.AI announced on September 15, 2026, that it secured a $40 million revolving debt financing in stablecoins from crypto-native asset management firm K3 Capital, collateralized by sUSDai, which can be drawn, repaid, and reused to support the launch of new products. Developed by Permian Labs, the loan has a term of approximately three years with monthly repayments. This facility follows the $100 million stablecoin debt financing previously provided by Bullish.

Stablecoin infrastructure company HIFI announced on September 24, 2026, the completion of a $37 million Series A financing round led by Left Lane Capital, whose Managing Partner Matthew Miller joined the board of directors. The funds will be used to obtain licenses, expand teams in New York and overseas, and extend products from stablecoin payments to card issuance and RWA capital markets. Currently serving over 10,000 enterprises and 200,000 end users across approximately 87 countries, HIFI has also participated in DTCC's repo pilot program.

Cross-border stablecoin payment infrastructure company Latitude announced on September 9, 2026, the completion of a $35 million Series A financing round led by Oak HC/FT, with participation from NEA, Coinbase Ventures, Lightspeed Faction, and OpenFX. This round follows an $8 million seed round earlier this year, bringing cumulative fundraising to $43 million. Latitude integrates stablecoin settlement with local bank accounts and mobile wallets, allowing recipients to collect fiat without needing to hold a crypto wallet.

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