The Venture Codex Logo

The Venture Codex

Polymorphic Capital

Limassol, Cyprus

Overview

Web3 venture capital focused on practical use cases and long-term support.

Founded

2021

Deals · 12mo

1

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Switzerland
United Kingdom
United States

Sector focus

Blockchain
Cryptocurrency
Finance
Financial Services
...

Investment portfolio

22rounds
NAMEDATESIZE
Zynk
Nov 2025Participated
$5 MSeed
Kredete
Sep 2025Participated
$22 MSeries A
TACEO
Jul 2025Participated
$6 MSeed
Due
Jul 2025Participated
$7 MSeed
Freename
Jul 2025Participated
$7 MSeries A
MANSA
Feb 2025Participated
$10 MDebt
Nevermined
Jan 2025Participated
$4 MOther Equity
Naptha AI
Oct 2024Participated
$6 MSeed
Airstack
Oct 2024Participated
$4 MSeed
Kredete
Sep 2024Participated
$2 MSeed
Azuro
Apr 2024Participated
$4 MOther Equity
Fair Math
Feb 2024Led
$1 MSeed
Zynk
Nov 2025Participated
$5 MSeed
Kredete
Sep 2025Participated
$22 MSeries A
TACEO
Jul 2025Participated
$6 MSeed
Due
Jul 2025Participated
$7 MSeed
Freename
Jul 2025Participated
$7 MSeries A
MANSA
Feb 2025Participated
$10 MDebt
Nevermined
Jan 2025Participated
$4 MOther Equity
Naptha AI
Oct 2024Participated
$6 MSeed
Airstack
Oct 2024Participated
$4 MSeed
Kredete
Sep 2024Participated
$2 MSeed
Azuro
Apr 2024Participated
$4 MOther Equity
Fair Math
Feb 2024Led
$1 MSeed
22
Items
...
Browse all public portfolio deals

Insights

Time horizon

View by

Deal Distribution

Polymorphic Capital: 22 funding rounds are recorded in the selected participation categories.All available history.
Polymorphic Capital: 22 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed48
Series A04
Series B01
Other Equity04
Debt01

Monthly Deal Activity

Polymorphic Capital: 22 deals are recorded across 61 months.All available history.
Polymorphic Capital: 22 deals are recorded across 61 months. All available history
MonthDeals
Oct '211
Nov '210
Dec '210
Jan '221
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '222
Aug '220
Sep '221
Oct '221
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '231
Jun '230
Jul '230
Aug '231
Sep '231
Oct '230
Nov '231
Dec '230
Jan '240
Feb '241
Mar '240
Apr '241
May '240
Jun '240
Jul '240
Aug '240
Sep '241
Oct '242
Nov '240
Dec '240
Jan '251
Feb '251
Mar '250
Apr '250
May '250
Jun '250
Jul '253
Aug '250
Sep '251
Oct '250
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Polymorphic Capital: Crypto & Blockchain is the largest displayed sector by deal count (13 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.

Polymorphic Capital: Crypto & Blockchain is the largest displayed sector by deal count (13 deals). All available history
SectorDeals
Crypto & Blockchain13
Fintech11
AI & Machine Learning5
Developer Tools2
Networks, Cloud & Communication2
Cybersecurity & Privacy2
Professional Services2
Education & Workforce1
Hardware & Robotics1
Enterprise Software1
Media & Entertainment1
E-Commerce & Retail1

Deal Size Distribution

Polymorphic Capital: 22 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.

Polymorphic Capital: 22 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M10
$5M-$10M5
$10M-$25M5
$25M-$50M1
$50M-$100M0
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Polymorphic Capital: United States has the largest recorded deal count among the displayed regions (10 deals).All available history.

Top 4 of 4 regions; European countries are grouped as Europe.

Polymorphic Capital: United States has the largest recorded deal count among the displayed regions (10 deals). All available history
RegionDeals
United States10
Europe10
Marshall Islands1
Singapore1
Polymorphic Capital: 20 co-investors are shown, with Coinbase Ventures sharing 3 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.

Polymorphic Capital: 20 co-investors are shown, with Coinbase Ventures sharing 3 recorded deals. All available history
Co-investorShared deals
Coinbase Ventures3
Red Beard Ventures3
Blockchain Founders Fund2
Cyber Fund2
Eterna Capital2
Fabric Ventures2
gumi Cryptos Capital2
Halo Capital2
HashKey Capital2
ParaFi Capital2
Seed Club Ventures2
Semantic Ventures2
Speedinvest2
Tokentus2
0x Ventures1
1kx1
A Capital1
A&T Capital1
a16z crypto1
Accomplice Blockchain1

Investment Strategy

Polymorphic Capital: Led accounts for 18% and participating for 82% of round participation.All available history.
Polymorphic Capital: Led accounts for 18% and participating for 82% of round participation. All available history
CategoryDeals (count)Share (%)
Led418%
Participating1882%
Polymorphic Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
Polymorphic Capital: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led4100%

Team

Eldar Khamitov

Partner, Portfolio Development

Richard Sobel

Partner, Strategic Development

Vitaly Spassky

Managing Partner