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The Venture Codex

Formless Capital

201 Folsom St, San Francisco, California, 94105, United States

Overview

Cross-border investment fund focused on blockchain technologies.

Founded

2021

Deals · 12mo

0

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed

Geographic focus

Brazil
Hong Kong
Japan
United States

Sector focus

—

Investment portfolio

14rounds
NAMEDATESIZE
Blade Games
May 2024Participated
$2 MSeed
Rug.ai
Apr 2024Participated
$1 MSeed
bbox
Feb 2024Participated
$3 MSeed
Forge
Oct 2023Participated
$11 MSeed
Curio Research
Feb 2023Participated
$3 MSeed
Outdefine
Dec 2022Participated
$3 MOther Equity
Delysium
Oct 2022Participated
$10 MOther Equity
Azuro
Jun 2022Participated
$4 MOther Equity
GRID
Jun 2022Participated
$2 MSeed
Snackclub
Apr 2022Participated
$9 MSeed
Taki
Apr 2022Participated
$3 MOther Equity
GRID
Jan 2022Participated
$1 MSeed
Blade Games
May 2024Participated
$2 MSeed
Rug.ai
Apr 2024Participated
$1 MSeed
bbox
Feb 2024Participated
$3 MSeed
Forge
Oct 2023Participated
$11 MSeed
Curio Research
Feb 2023Participated
$3 MSeed
Outdefine
Dec 2022Participated
$3 MOther Equity
Delysium
Oct 2022Participated
$10 MOther Equity
Azuro
Jun 2022Participated
$4 MOther Equity
GRID
Jun 2022Participated
$2 MSeed
Snackclub
Apr 2022Participated
$9 MSeed
Taki
Apr 2022Participated
$3 MOther Equity
GRID
Jan 2022Participated
$1 MSeed
14
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Formless Capital: 14 funding rounds are recorded in the selected participation categories.All available history.
Formless Capital: 14 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed08
Series A01
Other Equity05

Monthly Deal Activity

Formless Capital: 14 deals are recorded across 61 months.All available history.
Formless Capital: 14 deals are recorded across 61 months. All available history
MonthDeals
Oct '212
Nov '210
Dec '210
Jan '221
Feb '220
Mar '220
Apr '222
May '220
Jun '222
Jul '220
Aug '220
Sep '220
Oct '221
Nov '220
Dec '221
Jan '230
Feb '231
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '230
Dec '230
Jan '240
Feb '241
Mar '240
Apr '241
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Formless Capital: Crypto & Blockchain is the largest displayed sector by deal count (8 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Formless Capital: Crypto & Blockchain is the largest displayed sector by deal count (8 deals). All available history
SectorDeals
Crypto & Blockchain8
Gaming & eSports7
AI & Machine Learning3
AR/VR2
Media & Entertainment2
Cybersecurity & Privacy1
Data, Analytics & IT1
Consumer & Lifestyle1
Networks, Cloud & Communication1
Marketing & Advertising1
Fintech1
Health & Life Sciences1
Professional Services1
Developer Tools1

Deal Size Distribution

Formless Capital: 14 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Formless Capital: 14 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M10
$5M-$10M2
$10M-$25M2
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Formless Capital: United States has the largest recorded deal count among the displayed regions (9 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

Formless Capital: United States has the largest recorded deal count among the displayed regions (9 deals). All available history
RegionDeals
United States9
Japan1
Europe1
Hong Kong1
Brazil1
Singapore1
Formless Capital: 20 co-investors are shown, with Animoca Brands sharing 4 recorded deals.All available history.

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.

Formless Capital: 20 co-investors are shown, with Animoca Brands sharing 4 recorded deals. All available history
Co-investorShared deals
Animoca Brands4
Mask Network4
11 Tribes Ventures2
Blockchain Founders Fund2
Blocore2
FTX Ventures2
Jump Crypto2
Makers Fund2
Mechanism Capital2
OKX Ventures2
Puzzle Ventures2
Realist Ventures2
The Chernin Group2
Zell Capital2
Adaverse1
Akatsuki1
Animoca Ventures1
Antalpha1
Anthos Capital1
Arcane Group1

Investment Strategy

Formless Capital: Led accounts for 0% and participating for 100% of round participation.All available history.
Formless Capital: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating14100%
Formless Capital: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Formless Capital: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Cecilia Li

Founder