Wintermute Ventures Adopts Selective Investment Approach in 2025

Wintermute Ventures’ decision to narrow its investment focus could significantly impact the venture capital landscape in crypto, aligning with a broader industry shift towards strategic funding.

Wintermute Ventures, the investment arm of Wintermute, announced in 2025 that only 4% of reviewed projects were approved for funding, marking a shift to a more selective investment strategy.

Wintermute Ventures, the venture arm of algorithmic trading firm Wintermute, has moved to a more selective investment strategy in 2025, aligning with industry-wide trends. The firm reviewed around 600 projects, advancing 20% to due diligence, but funded only 4%, equating to 23 investments.

Evgeny Gaevoy, CEO, Wintermute – “Our focus has shifted from a broader investment approach to a much more selective strategy, emphasizing high-conviction investments in the pre-seed and seed stages.”

CEO Evgeny Gaevoy leads Wintermute Ventures in this strategic shift after previously backing a broader set of projects. Focus on pre-seed and seed stages remains, but the emphasis now lies on high-conviction bets, distancing from prior scattershot approaches.

The shift to a more selective strategy reflects changing market dynamics and the increased importance of strategic investment decisions. By moving away from a broad investment approach, Wintermute Ventures is setting a trend potentially influencing funding strategies across the crypto venture landscape.

While immediate market impacts may not be visible, this broader operational change has the potential to transform how capital is allocated in the crypto industry. Investor focus is shifting, raising the entry bar for founders seeking funding from higher conviction crypto investors.

Insights reveal that such decision-making processes could encourage companies to bolster their proposals, promoting innovative projects meeting the higher standards set by Wintermute Ventures. This could broadly refine the crypto venture investment ecosystem, emphasizing quality over quantity.