Google parent Alphabet participated in four funding rounds that raised a total $1.5 billion, Blockdata found.
Forty of the world’s largest corporations invested about $6 billion into blockchain companies between September 2021 and June 2022 according to a study by Blockdata that looked at the investment activity of the biggest 100 public companies by market cap.
Blockdata used the size of the funding rounds as a proxy for total investment, saying it is not possible to determine the amount contributed by each participant in a round. Samsung (005930) was the most active, investing in some 13 companies. Google parent company Alphabet (GOOGL) participated in four funding rounds that raised $1.5 billion for blockchain and crypto-related companies, the largest value.
The study highlights the ongoing mainstream acceptance of blockchain technology and the crypto industry. Financial services giants BlackRock (BLK) took part in rounds valued at $1.2 billion and Morgan Stanley (MS) participated in $1.1 billion of fundraising activity.
Alphabet invested in four companies: crypto custody technology provider Fireblocks, Flow blockchain developer Dapper Labs, Bitcoin network infrastructure provider Voltage and investment firm Digital Currency Group, the parent company of CoinDesk.