>A **crypto** venture capital fund has crunched the numbers: crypto projects raised $759 million in the third quarter of this year, almost quadruple that raised in Q2 when the tumult around the coronavirus pandemic was in full swing.
>Outlier Ventures reported that crypto projects raised $227 million in September through 97 deals, $278 million in August in 24 deals, and $254 million in July with 29 deals. By comparison, in the *entire* second quarter of this year, Outlier found that crypto firms had raised just $200 million.
>To thank is partly the rise of **DeFi**, or [decentralized finance](https://decrypt.co/resources/defi-decentralized-finance-explained-guide-learn), non-custodial financial protocols that let you lend out your crypto or trade it on decentralized exchanges.
>In September, DeFi and Fintech deals made up for two-thirds of the total funding, or $157 million. In August they made up 62% of deals and in July 72.4%. By comparison, in the whole of 2020, they made up 40% of deals.