Overview
Crypto market maker and liquidity provider for digital assets.
Founded
2013
Deals ยท 12mo
19
Stage focus
Geographic focus
Sector focus
Investment portfolio
| NAME | DATE | SIZE | |
|---|---|---|---|
Entravel Group | Aug 2026Participated | $8 MOther Equity | |
Legion | Aug 2026Participated | $5 MSeed | |
Bundle | Jul 2026Participated | $6 MSeed | |
Libeara | Jun 2026Led | $14 MOther Equity | |
Ekiden | May 2026Participated | $2 MSeed | |
Legend Trade | Apr 2026Participated | $4 MSeed | |
Legend | Apr 2026Participated | $4 MSeed | |
3F | Apr 2026Participated | $3 MSeed | |
Enhanced Labs | Apr 2026Participated | $1 MSeed | |
Midas | Mar 2026Participated | $50 MSeries A | |
Tenbin | Jan 2026Participated | $7 MSeed | |
Noise | Jan 2026Participated | $7 MSeed | |
Entravel Group | Aug 2026Participated | $8 MOther Equity | |
Legion | Aug 2026Participated | $5 MSeed | |
Bundle | Jul 2026Participated | $6 MSeed | |
Libeara | Jun 2026Led | $14 MOther Equity | |
Ekiden | May 2026Participated | $2 MSeed | |
Legend Trade | Apr 2026Participated | $4 MSeed | |
Legend | Apr 2026Participated | $4 MSeed | |
3F | Apr 2026Participated | $3 MSeed | |
Enhanced Labs | Apr 2026Participated | $1 MSeed | |
Midas | Mar 2026Participated | $50 MSeries A | |
Tenbin | Jan 2026Participated | $7 MSeed | |
Noise | Jan 2026Participated | $7 MSeed |
Insights
Time horizon
View by
Deal Distribution
| Round type | Led deals | Participated deals |
|---|---|---|
| Seed | 6 | 46 |
| Series A | 2 | 21 |
| Series B | 0 | 4 |
| Series C+ | 0 | 1 |
| Other Equity | 3 | 27 |
| ICO | 0 | 1 |
Monthly Deal Activity
| Month | Deals |
|---|---|
| Oct '15 | 1 |
| Nov '15 | 0 |
| Dec '15 | 0 |
| Jan '16 | 0 |
| Feb '16 | 0 |
| Mar '16 | 0 |
| Apr '16 | 0 |
| May '16 | 0 |
| Jun '16 | 0 |
| Jul '16 | 0 |
| Aug '16 | 0 |
| Sep '16 | 0 |
| Oct '16 | 0 |
| Nov '16 | 0 |
| Dec '16 | 0 |
| Jan '17 | 0 |
| Feb '17 | 0 |
| Mar '17 | 0 |
| Apr '17 | 0 |
| May '17 | 0 |
| Jun '17 | 0 |
| Jul '17 | 0 |
| Aug '17 | 0 |
| Sep '17 | 0 |
| Oct '17 | 0 |
| Nov '17 | 0 |
| Dec '17 | 0 |
| Jan '18 | 0 |
| Feb '18 | 0 |
| Mar '18 | 0 |
| Apr '18 | 0 |
| May '18 | 0 |
| Jun '18 | 0 |
| Jul '18 | 0 |
| Aug '18 | 0 |
| Sep '18 | 0 |
| Oct '18 | 0 |
| Nov '18 | 0 |
| Dec '18 | 0 |
| Jan '19 | 0 |
| Feb '19 | 0 |
| Mar '19 | 0 |
| Apr '19 | 0 |
| 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 | 2 |
| May '20 | 0 |
| Jun '20 | 0 |
| Jul '20 | 0 |
| Aug '20 | 0 |
| Sep '20 | 2 |
| Oct '20 | 1 |
| 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 | 1 |
| Sep '21 | 3 |
| Oct '21 | 2 |
| Nov '21 | 2 |
| Dec '21 | 3 |
| Jan '22 | 3 |
| Feb '22 | 3 |
| Mar '22 | 4 |
| Apr '22 | 5 |
| May '22 | 2 |
| Jun '22 | 5 |
| Jul '22 | 2 |
| Aug '22 | 2 |
| Sep '22 | 1 |
| Oct '22 | 1 |
| Nov '22 | 1 |
| Dec '22 | 2 |
| Jan '23 | 1 |
| Feb '23 | 0 |
| Mar '23 | 1 |
| Apr '23 | 2 |
| May '23 | 0 |
| Jun '23 | 2 |
| Jul '23 | 1 |
| Aug '23 | 2 |
| Sep '23 | 0 |
| Oct '23 | 1 |
| Nov '23 | 0 |
| Dec '23 | 0 |
| Jan '24 | 2 |
| Feb '24 | 4 |
| Mar '24 | 6 |
| Apr '24 | 3 |
| May '24 | 2 |
| Jun '24 | 4 |
| Jul '24 | 1 |
| Aug '24 | 0 |
| Sep '24 | 3 |
| Oct '24 | 0 |
| Nov '24 | 0 |
| Dec '24 | 0 |
| Jan '25 | 0 |
| Feb '25 | 1 |
| Mar '25 | 0 |
| Apr '25 | 2 |
| May '25 | 0 |
| Jun '25 | 1 |
| Jul '25 | 1 |
| Aug '25 | 1 |
| Sep '25 | 3 |
| Oct '25 | 3 |
| Nov '25 | 1 |
| Dec '25 | 3 |
| Jan '26 | 2 |
| Feb '26 | 0 |
| Mar '26 | 1 |
| Apr '26 | 4 |
| May '26 | 1 |
| Jun '26 | 1 |
| Jul '26 | 1 |
| Aug '26 | 2 |
| 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 | 87 |
| Fintech | 53 |
| AI & Machine Learning | 11 |
| Enterprise Software | 10 |
| Networks, Cloud & Communication | 10 |
| Data, Analytics & IT | 9 |
| Gaming & eSports | 8 |
| Hardware & Robotics | 6 |
| Cybersecurity & Privacy | 5 |
| Media & Entertainment | 5 |
| Social & Community Platforms | 5 |
| AR/VR | 4 |
| Health & Life Sciences | 4 |
| E-Commerce & Retail | 2 |
| Clean Energy & Sustainability | 2 |
| Consumer & Lifestyle | 2 |
| Professional Services | 2 |
| Developer Tools | 2 |
| Travel & Hospitality | 1 |
| Education & Workforce | 1 |
| Government & Defense | 1 |
Deal Size Distribution
Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.
| Round size band (USD) | Deals |
|---|---|
| <$5M | 30 |
| $5M-$10M | 38 |
| $10M-$25M | 28 |
| $25M-$50M | 7 |
| $50M-$100M | 6 |
| $100M-$250M | 1 |
| $250M-$500M | 0 |
| $500M-$1B | 0 |
| $1B+ | 1 |
Deals By Geography
Top 10 of 15 regions; European countries are grouped as Europe.
| Region | Deals |
|---|---|
| United States | 57 |
| Europe | 26 |
| Singapore | 12 |
| Hong Kong | 3 |
| Canada | 3 |
| Cayman Islands | 1 |
| United Arab Emirates | 1 |
| 6300 | 1 |
| 020276 | 1 |
| 10551 | 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 |
|---|---|
| Coinbase Ventures | 12 |
| HashKey Capital | 11 |
| Animoca Brands | 10 |
| CMT Digital | 10 |
| Amber Group | 8 |
| Flow Traders | 7 |
| Flowdesk | 7 |
| Big Brain Holdings | 6 |
| Electric Capital | 6 |
| Jump Capital | 6 |
| OKX Ventures | 6 |
| Spartan Group | 6 |
| Wintermute | 6 |
| Alameda Research | 5 |
| Dragonfly | 5 |
| Framework Ventures | 5 |
| Hack VC | 5 |
| Kraken Ventures | 5 |
| SNZ | 5 |
| Anchorage | 4 |
Investment Strategy
| Category | Deals (count) | Share (%) |
|---|---|---|
| Led | 11 | 10% |
| Participating | 100 | 90% |
| Category | Deals (count) | Share (%) |
|---|---|---|
| Single-lead | 2 | 18% |
| Co-led | 9 | 82% |
Team
Chief Legal Officer
President
Chief Strategy Officer US and Global Deputy General Counsel
VP, M&A and Investments
Co-Founder