Overview
Global liquidity provider and market maker enhancing financial markets.
Founded
2004
Deals · 12mo
5
Stage focus
Geographic focus
Sector focus
Investment portfolio
| NAME | DATE | SIZE | |
|---|---|---|---|
Cambrian | Jun 2026Participated | $6 MSeed | |
Rulematch | Jun 2026Participated | $14 MSeries A | |
TVL Capital | Jun 2026Participated | $5 MOther Equity | |
Pharos | Apr 2026Participated | $44 MSeries A | |
Utexo | Mar 2026Participated | $8 MSeed | |
Rho Protocol | Feb 2025Participated | $4 MSeed | |
Plasma | Feb 2025Participated | $20 MSeries A | |
zkPass | Oct 2024Participated | $13 MSeries A | |
Primary Portal | Jul 2024Participated | $10 MSeries A | |
Bitlayer | Jul 2024Participated | $11 MSeries A | |
Bluefin | Jun 2024Participated | $17 MOther Equity | |
Crossover Markets Group | Jun 2024Participated | $12 MSeries A | |
Cambrian | Jun 2026Participated | $6 MSeed | |
Rulematch | Jun 2026Participated | $14 MSeries A | |
TVL Capital | Jun 2026Participated | $5 MOther Equity | |
Pharos | Apr 2026Participated | $44 MSeries A | |
Utexo | Mar 2026Participated | $8 MSeed | |
Rho Protocol | Feb 2025Participated | $4 MSeed | |
Plasma | Feb 2025Participated | $20 MSeries A | |
zkPass | Oct 2024Participated | $13 MSeries A | |
Primary Portal | Jul 2024Participated | $10 MSeries A | |
Bitlayer | Jul 2024Participated | $11 MSeries A | |
Bluefin | Jun 2024Participated | $17 MOther Equity | |
Crossover Markets Group | Jun 2024Participated | $12 MSeries A |
Insights
Time horizon
View by
Deal Distribution
| Round type | Led deals | Participated deals |
|---|---|---|
| Seed | 0 | 10 |
| Series A | 0 | 16 |
| Series B | 0 | 1 |
| Other Equity | 0 | 10 |
Monthly Deal Activity
| Month | Deals |
|---|---|
| Apr '19 | 1 |
| May '19 | 0 |
| Jun '19 | 0 |
| Jul '19 | 0 |
| Aug '19 | 0 |
| Sep '19 | 0 |
| Oct '19 | 0 |
| Nov '19 | 0 |
| Dec '19 | 0 |
| Jan '20 | 0 |
| Feb '20 | 0 |
| Mar '20 | 0 |
| Apr '20 | 0 |
| May '20 | 1 |
| Jun '20 | 0 |
| Jul '20 | 0 |
| Aug '20 | 0 |
| Sep '20 | 0 |
| Oct '20 | 0 |
| Nov '20 | 0 |
| Dec '20 | 0 |
| Jan '21 | 0 |
| Feb '21 | 0 |
| Mar '21 | 0 |
| Apr '21 | 0 |
| May '21 | 0 |
| Jun '21 | 0 |
| Jul '21 | 0 |
| Aug '21 | 0 |
| Sep '21 | 0 |
| Oct '21 | 0 |
| Nov '21 | 0 |
| Dec '21 | 0 |
| Jan '22 | 1 |
| Feb '22 | 0 |
| Mar '22 | 0 |
| Apr '22 | 2 |
| May '22 | 2 |
| Jun '22 | 1 |
| Jul '22 | 2 |
| Aug '22 | 1 |
| Sep '22 | 0 |
| Oct '22 | 0 |
| Nov '22 | 0 |
| Dec '22 | 1 |
| Jan '23 | 0 |
| Feb '23 | 1 |
| Mar '23 | 1 |
| Apr '23 | 1 |
| May '23 | 0 |
| Jun '23 | 0 |
| Jul '23 | 0 |
| Aug '23 | 1 |
| Sep '23 | 0 |
| Oct '23 | 1 |
| Nov '23 | 0 |
| Dec '23 | 0 |
| Jan '24 | 0 |
| Feb '24 | 1 |
| Mar '24 | 4 |
| Apr '24 | 1 |
| May '24 | 1 |
| Jun '24 | 3 |
| Jul '24 | 2 |
| Aug '24 | 0 |
| Sep '24 | 0 |
| Oct '24 | 1 |
| Nov '24 | 0 |
| Dec '24 | 0 |
| Jan '25 | 0 |
| Feb '25 | 2 |
| Mar '25 | 0 |
| Apr '25 | 0 |
| May '25 | 0 |
| Jun '25 | 0 |
| Jul '25 | 0 |
| Aug '25 | 0 |
| Sep '25 | 0 |
| Oct '25 | 0 |
| Nov '25 | 0 |
| Dec '25 | 0 |
| Jan '26 | 0 |
| Feb '26 | 0 |
| Mar '26 | 1 |
| Apr '26 | 1 |
| May '26 | 0 |
| Jun '26 | 3 |
| Jul '26 | 0 |
| Aug '26 | 0 |
| Sep '26 | 0 |
| Oct '26 | 0 |
Sector Breakdown
A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.
| Sector | Deals |
|---|---|
| Crypto & Blockchain | 27 |
| Fintech | 23 |
| Data, Analytics & IT | 4 |
| Enterprise Software | 3 |
| Developer Tools | 2 |
| Networks, Cloud & Communication | 2 |
| Education & Workforce | 1 |
| Health & Life Sciences | 1 |
| Cybersecurity & Privacy | 1 |
| AI & Machine Learning | 1 |
Deal Size Distribution
Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.
| Round size band (USD) | Deals |
|---|---|
| <$5M | 3 |
| $5M-$10M | 14 |
| $10M-$25M | 15 |
| $25M-$50M | 2 |
| $50M-$100M | 3 |
| $100M-$250M | 0 |
| $250M-$500M | 0 |
| $500M-$1B | 0 |
| $1B+ | 0 |
Deals By Geography
Top 8 of 8 regions; European countries are grouped as Europe.
| Region | Deals |
|---|---|
| United States | 18 |
| Europe | 10 |
| Canada | 2 |
| Cayman Islands | 2 |
| Singapore | 2 |
| United Arab Emirates | 1 |
| Hong Kong | 1 |
| Seychelles | 1 |
Co-Investors
Bubble size = shared deals
Click a bubble to open that fund in a new tab.
Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.
| Co-investor | Shared deals |
|---|---|
| GSR | 7 |
| Wintermute | 6 |
| Framework Ventures | 4 |
| Jane Street | 4 |
| Laser Digital | 4 |
| Amber Group | 3 |
| Auros | 3 |
| Coinbase Ventures | 3 |
| Cumberland | 3 |
| DRW Venture Capital | 3 |
| Franklin Templeton | 3 |
| GoldenTree Asset Management | 3 |
| Hudson River Trading | 3 |
| Hypersphere Ventures | 3 |
| Pantera Capital | 3 |
| Polychain Capital | 3 |
| AlphaLab Capital | 2 |
| Arrington Capital | 2 |
| Bing Ventures | 2 |
| Bitfinex | 2 |
Investment Strategy
| Category | Deals (count) | Share (%) |
|---|---|---|
| Led | 0 | 0% |
| Participating | 37 | 100% |
| Category | Deals (count) | Share (%) |
|---|---|---|
| Single-lead | 0 | 0% |
| Co-led | 0 | 0% |
Lead dynamics requires at least one led deal in this range
Team
Investment Principal
Founder & Board Member
Global Head of Business Development
Founder & Board Member