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The Venture Codex

Primal Capital

Maryah Island, DD-16-121-030, 16th Floor, Al Khatem Tower, Adgm Square, Abu Dhabi, United Arab Emirates

Overview

Primal Capital is an early stage and growth investor in Web3 and emerging technology companies. Our current portfolio consists of 50+ investments in Web3 & blockchain applications focused on consumer and enterprise adoption.

Total investments
15
Lead investments
1
Investments · 12mo
4
Active investors
1

Sector focus

  • Asset Management
  • Blockchain
  • Cryptocurrency
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Investment portfolio

  • Asgard Finance

    Participated · Seed · Dec 2025

    Asgard Finance develops Credit Backed Positions (CBP), a structured-positioning tool built on the Solana blockchain. The product is designed to enhance trading efficiency and composability within decentralized finance. During its beta phase, CBP has already facilitated more than $35 million in positions, demonstrating early traction with users. By leveraging Solana’s high-throughput infrastructure, Asgard aims to provide low-cost, highly configurable trading strategies for crypto market participants. The company plans to use its newly raised seed capital to refine the CBP offering and expand its ecosystem integrations. No additional operating metrics, revenue figures, or company location details were cited in the article.

  • Asgard

    Participated · Seed · Dec 2025

    Asgard is a decentralized finance (DeFi) startup focused on enabling on-chain, composable structured trading through its flagship product, Credit Backed Positions (CBP). CBP allows users to create structured positions that are collateralized by credit rather than traditional assets, aiming to improve capital efficiency within DeFi markets. Built on the Solana blockchain, the platform targets traders who require low-latency execution and easy composability with other Solana protocols. During its closed beta, users have already opened CBP positions totaling more than US$35 million, signaling early traction. The fresh capital will be used to refine the CBP product, broaden beta access, and expand integrations across the Solana ecosystem. Management also plans to invest in security audits and develop additional structured products layered on top of CBP. No revenue figures were disclosed in the article.

  • 375ai

    Participated · Equity · Oct 2025

    Founded in 2022, Los Angeles-based 375ai deploys AI-powered 375edge devices—combining HD cameras, audio and environmental sensors with NVIDIA Jetson compute—to process raw data locally and deliver structured intelligence in real time. Each device compresses roughly 1 TB of daily input into just 35 MB of usable insights, a 26,000× reduction that lowers bandwidth costs and preserves privacy. The network already observes 1.5 million vehicles per day through high-value sites obtained via a partnership with Outfront Media, serving customers in advertising, logistics, public safety and urban planning. Current live deployments span Los Angeles, with roll-outs underway in New York and Miami and international expansion slated for 2026. 375ai positions itself as core infrastructure for “physical AI,” enabling smarter mobility systems, safer streets and more efficient autonomous operations. The company is led by CEO Harry Dewhirst and a team with prior experience at Juniper Networks, Palo Alto Networks, Fortinet and other telecom and security firms. To date, the startup has raised $10 million in equity funding, including its latest $5 million infusion that will fund denser network coverage and continued product development.

  • Senpi

    Participated · Seed · Sep 2025

    Senpi is an AI-driven wallet service that acts as a personal trading partner for crypto investors. The platform delivers automated trading with customizable profit targets and stop-losses, scam protection, and talking smart notifications backed by AI dashboards that surface actionable insights. Social trading, referral rewards, and easy-to-digest analysis create a "co-pilot" experience aimed at reducing the stress of digital-asset management. Since launching on Base only four months ago, Senpi has executed more than 250,000 AI auto-trades with a reported 45% win rate—three times higher than typical exchanges. Over 200 traders have already achieved 1,000%+ gains, qualifying for the "Senpi 1000% Club." Future product plans include expanding across iOS, Android, web, mini-apps, and SDKs, introducing multi-chain support, and advancing toward fully autonomous trading and portfolio management. The recent seed financing positions the company to accelerate these initiatives and sustain its rapid growth trajectory.

  • Transak

    Participated · Equity · Aug 2025

    Transak provides a single API that enables apps — wallets, exchanges, fintechs and DeFi platforms — to convert fiat to stablecoins via local payment methods, bank transfers, cards and virtual IBANs. The platform combines regulated fiat on/off ramps, virtual bank accounts, real-time liquidity routing and full-stack compliance tooling. Transak is used by over 450 applications and serves users in more than 75 countries. The company has processed over $2 billion in transaction volume, with nearly 30% coming from stablecoin flows, and supports both retail and institutional use cases. It holds regulatory approvals in the United States, United Kingdom, European Union, Canada, Australia and India. Co-founded by Yeshu Agarwal and Sami Start, Transak plans to expand its stablecoin payments stack and scale operations into new markets.

Team