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The Venture Codex

Polygon Ventures

Tórtola, Castilla-La Mancha, Spain

Overview

Polygon Ventures is an investment firm that focuses on early-stage Web3 startups.

Total investments
46
Lead investments
3
Investments · 12mo
5
Active investors
1

Sector focus

  • Web3
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Investment portfolio

  • Perceptron

    Participated · Equity · Jul 2026

    Perceptron operates a decentralised AI data mesh that aggregates global data collection into a contributor network for sourcing and verifying datasets. The platform is live and reports more than 807,000 nodes onboarded, with over 300,000 daily active users and earlier stages reaching more than 200,000 users across Telegram and Discord. Contributors retain ownership of their data and earnings and can monetise or withdraw them without intermediaries. Perceptron is launching a data-questing platform to enable AI companies to commission high-value datasets directly from the community, shortening sourcing timelines. The company aims to expand contributor tooling and rewards infrastructure and scale the network toward a long-term target of 5 million nodes. It recently raised $6.5 million in a strategic round to support these product launches and scaling efforts.

  • Ekiden

    Participated · Seed · May 2026

    Founded in 2025 and based in Lisbon, Ekiden is developing a decentralized derivatives trading platform designed for high-frequency and algorithmic trading by professional users, trading firms, and market makers. The team is building on Arbitrum and emphasizes faster trade execution with on-chain settlement to preserve transparency and user control. Ekiden's approach is informed by founder Vitali Dervoed's background in capital markets and work linked to Neon EVM, RockawayX, and Mango Markets. The company aims to support advanced and automated trading strategies through integrations and strategic partnerships. Financially, Ekiden completed a €1.7 million Seed round at a €17 million valuation and plans to deploy the capital toward audits, product development, hiring, and scaling liquidity.

  • RyboDyn

    Participated · Seed · Mar 2026

    RyboDyn’s core products are RyboCypher™, a proprietary discovery engine combining deep sequencing of non-canonical RNAs with proteomic detection, and CypherAtlas™, a searchable atlas that integrates those data and powers foundational AI models. The company has expanded CypherAtlas™ to include data from roughly 1,000 patient tumor samples across 10 oncology indications, discovering more than 3 million conserved novel dark RNAs and empirically identifying over 80,000 cryptic peptides, including about 15,000 cancer-specific peptides. Many discovered cryptic proteins appear to contain functional domains and are localized to the cell surface or secreted, positioning them as candidate targets for targeted immunotherapies. RyboDyn is translating these discoveries into first-in-class antibody therapeutics internally and through partnerships, and plans to advance early-stage programs into IND-enabling studies. The company has licensed IP from OHSU’s Knight Cancer Institute, disclosed a strategic collaboration with Moffitt Cancer Center, and operates from Lilly Gateway Labs in San Diego.

  • Tria

    Participated · Seed · Oct 2025

    Tria operates a next-generation, on-chain neo-bank that lets users spend, trade and earn yield while retaining self-custody of their assets. Its proprietary BestPath payment infrastructure, developed over the past two years, is already integrated with more than 60 leading protocols including Polygon, Arbitrum and Sentient. Since launching just four months ago, the platform has processed over US$100 million in cumulative transaction volume, attracted more than 150,000 active users and built a 10,000-member global ambassador program. Annual recurring revenue has surpassed US$20 million, and the company has distributed more than US$1 million in community rewards. Users in 150+ countries can access a Visa-branded card that offers 6 % cashback and zero transaction fees, contributing to what the article calls the fastest growth trajectory among Web3 neo-banks. In the first half of this year, Tria plans to roll out institutional services, introduce futures trading, travel payments, prediction markets and fiat on/off-ramp functionality. The roadmap also includes delta-neutral yield products for retail investors, AI-powered financial agents and private on-chain banking features. Management is targeting US$1 billion in cumulative transaction volume and US$100 million in annual revenue by year-end.

  • Wildcat Labs

    Participated · Seed · Sep 2025

    Wildcat Labs develops the Wildcat lending protocol to enable undercollateralized, parameterizable loans onchain, targeting institutional borrowers like funds, market makers, and DAOs. The protocol does not underwrite loans itself; borrowers set reserve ratios, withdrawal cycles, and lender whitelists to create bespoke markets. Wildcat earns revenue via a 5% protocol fee on the APR offered by borrowers (e.g., a 10% offered APR costs the borrower 10.5%). Since its generalized V2 Ethereum mainnet release in February, the protocol has originated $368 million and currently handles $150 million in outstanding credit. The company is already profitable and currently operates with four employees and three contractors. Planned uses of new capital include deeper Ethereum integration, hiring four additional roles (two currently open), and building new market types and mechanisms to unlock high-quality yield opportunities.

Team