Wintermute CEO: Shifted from "scattergun investing" approach, only 4% of project investments approved in 2025

BlockBeats News, January 8, Wintermute founder and CEO Evgeny Gaevoy stated that we have evolved from the "casting a wide net" investment approach of 2021–2022 to a current project approval rate of only 4%. Wintermute Ventures completed 23 investments in 2025, mainly leading Pre-Seed and Seed rounds. The investments are not made to obtain market making (MM) authorization and are completely independent from trading operations.

Wintermute Ventures stated in an article that in 2025, it reviewed about 600 companies, with 20% entering the formal due diligence stage and 4% of projects receiving funding. The most commonly used financing structures in 2025 are: equity/SAFE and token warrants. The most suitable financing and investment structure will be matched according to the founder's vision for the long-term development of the project.