12.1 What We Got Right and Wrong Last Year A top tier, established European VC will participate in a token offering/ICO In 2017, top tier US funds (including newest funds, such as Blueyard. But the Andreessen Horowitz and Union Square region’s most established funds have Ventures) actively invested directly yet to participate. This will change in in tokens via Initial Coin Offerings. 2018. They were joined by some of Europe’s Yeah...no, this didn’t happen Mark: 0/1 This did not happen, at least not through the year, but under the surface publicly. In 2018, making any sort of European teams have continued to prediction around the state of the make progress and raise funds from crypto market proved particularly top tier European investors, often via dangerous given the extreme level of traditional equity. Argent, for example, volatility in the market and an enduring raised capital from Index Ventures and bear market. The price of crypto assets Creandum. has inevitably dominated the headlines So how did we do overall? We think 2.5/4 isn’t bad going...now onto our predictions for next year... 148 In Partnership with & www.thestateofeuropeantech.com Photo: Riku Kyla / Juuso Hmlinen