Wintermute CEO: The project investment approval rate in 2025 is only 4%, bidding farewell to "scattergun investment."

Wintermute founder and CEO Evgeny Gaevoy posted on the X platform: "We have evolved from the 'scattergun investment' approach of 2021-2022 to a current project approval rate of only 4%. Wintermute Ventures completed 23 investments in 2025, primarily leading Pre-Seed and Seed rounds, with investments made not for market-making (MM) authorization, completely independent of trading operations."

Wintermute Ventures stated that in 2025, approximately 600 companies were reviewed, with 20% entering the formal due diligence stage and 4% of projects receiving funding. The most commonly used financing structures in 2025 were: equity/SAFE and token warrants. The most suitable financing and investment structures will be matched based on the founders' vision for the long-term development of the project.