Morningstar Ventures
Almas Tower, Jumeirah Lakes Towers, Dubai, United Arab Emirates
Overview
Morningstar Ventures is an investment firm backing ambitious ideas by early-stage founders. Based in Dubai, Morningstar Ventures focuses primarily on the blockchain and digital assets space and is led by Chief Investment Officer Danilo S. Carlucci. The firm is active in both token investments and equity investments and has a particularly strong focus on the Elrond ecosystem. In October 2021 Morningstar Ventures launched the Elrond Dubai Incubator to support projects building with Elrond technology.
- Total investments
- 44
- Lead investments
- 5
- Investments · 12mo
- 3
- Active investors
- 1
Sector focus
- Cryptocurrency
Investment portfolio
- Quantera Network
Participated · Seed · Aug 2026
Quantera Network is building an EVM-compatible layer-1 blockchain engineered for the post-quantum era, emphasizing quantum-resistant transaction security and cryptographic flexibility. The project launched an incentivized testnet on August 4 that awards participants QP points through simple social and on-chain tasks and claims from a faucet. For the testnet, 18% of the future QTER token supply was set aside for participant rewards, and the program offers AURA token rewards with a deadline listed as TBA. The testnet includes features such as faucet claims, token transfers, social and Yap (Twitter/X) posting tasks, a leaderboard, and conditions to mint a Quantera Origin NFT. Quantera closed a $2.1M seed round backed by Split Capital, Arāya, Morningstar Ventures and Passion Capital. The articles do not disclose founding year, location, valuation, or detailed use of the seed proceeds.
- Predictive Market Space
Led · Seed · Dec 2025
Predictive Market Space runs a decentralized, leveraged prediction market that relies on the Solana blockchain for fast and low-cost transactions. Users can take positions on future events with leverage, amplifying both potential gains and losses compared with standard prediction markets. The platform issued its own tokens and is financing operations and liquidity through a public token sale. In the initial phase of that sale, the company has already attracted over $10.55 million in commitments. The sale began with a fully diluted valuation (FDV) cap of $50 million and sold $2.5 million worth of tokens at that level. After surpassing this milestone, the sale will continue while linearly increasing the FDV ceiling up to $99 million, meaning later buyers will pay higher implied valuations. Once the public sale concludes, every participant will receive tokens at a single, uniform clearing price.
- Pieverse
Participated · Equity · Oct 2025
Pieverse is a Web3 infrastructure startup building a protocol that attaches a permanent, blockchain-stored digital receipt to every crypto transaction, giving businesses and individuals clear, auditable payment records without relying on centralized intermediaries. The company’s system is being engineered for compatibility with multiple major networks, including Ethereum, Solana, and BNB Chain, enabling seamless verification across blockchains. By delivering invoice- and receipt-like records, Pieverse aims to bring traditional finance-level clarity, compliance, and trust to decentralized payments. The startup is participating in Binance’s Most Valuable Builder (MVB) Season 9 accelerator, which provides technical resources and mentorship. Fresh capital will be used to expand engineering and compliance teams, accelerate product development, and deepen integrations with both blockchain and traditional payment platforms. Ultimately, Pieverse intends to establish its protocol as the standard for audit-ready payments across the Web3 ecosystem. The company has not yet disclosed operating metrics such as revenue or user numbers.
- Gudchain
Participated · Equity · Jun 2024
Gudchain is a blockchain startup that builds blockchain technology and services. It has secured $5 million in a funding round. The financing was led by Mechanism Capital with significant contributions from Morningstar Ventures, Manifold, and SkyVision Capital. The company says the funds will be used to further develop and expand its blockchain technology and services, though it has not disclosed specific plans for the use of proceeds. The investment was presented as demonstrating investor confidence in Gudchain's potential and the future of blockchain technology. The funding round marks a milestone as the company continues to innovate and grow in the blockchain industry.
- Particle Network
Participated · Series A · Jun 2024
Particle Network is a modular chain-abstraction Layer-1 blockchain project. The team is preparing a testnet second phase expected to start this week and plans a mainnet launch in Q3, with its PARTI token launching alongside mainnet. The company currently has just over 30 employees and intends to expand to more than 40, hiring engineering and operations staff. It completed a $15M Series A financing structured as a SAFT (simple agreement for future tokens). Proceeds will be used to scale the team and support the network launches. Particle Network offers a mobile app data and development platform for Web3 that provides scalable, decentralized backends and data infrastructure for developers. Its full-stack Web3 infrastructure aims to enable developers to execute projects from idea to deployment in a single workflow for high-performance dApps. Developers can integrate Particle Network via APIs and implement functions by setting parameters and front-end designs. The company said it will use the new capital to expand operations and its development efforts. Financially, Particle Network raised $7M in the current funding round and previously raised $1.8M in a pre-seed round in April 2022. The company is based in Singapore. Particle Network provides a fully managed backend infrastructure and development toolkit for building, hosting, and scaling Web3 mobile gaming dApps. The platform supports multiple chains including Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos and Wax. It helps developers clean and structuralize on-chain data and connect processed data with first-party client data to build user DIDs and enable targeted product iterations and operations. Developers have already built games on the platform, such as Merge Go, Designer 777, Idle Weed Inc and Panda^2. The company raised a $1.5M pre-seed funding round to accelerate growth. Particle Network plans to use the funds to grow its team, nurture a global developer community, and polish its launchpad to give developers the fastest path from idea to mass-scaling Web3 games.
Team
Danilo S. Carlucci
Co-Founder & Chief Investment Officer
LinkedIn