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The Venture Codex

Sfermion

1 East Erie Street, Suite 525-4874, Chicago, IL, 60611, United States

Overview

Metaverse-native firm investing in esoteric digital assets.

Founded

2019

Deals · 12mo

5

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Canada
Singapore
United States

Sector focus

Metaverse

Investment portfolio

64rounds
NAMEDATESIZE
PerpTools
Sep 2026Participated
$5 MSeed
KOR Protocol
Jul 2026Participated
$8 MSeries A
Akedo
Jan 2026Participated
$5 MSeed
Printr
Oct 2025Participated
$2 MSeed
Temple
Oct 2025Participated
$5 MSeed
Modhaus
Aug 2025Participated
$15 MSeries B
Vivident
Jan 2025Participated
$2 MSeed
Loot Labs
Oct 2024Participated
$6 MSeed
Skyfire Systems
Aug 2024Participated
$9 MSeed
NPC Labs
Jul 2024Participated
$18 MSeed
Solv Protocol
Jul 2024Participated
$4 MOther Equity
Focus Tree
May 2024Led
$2 MSeed
PerpTools
Sep 2026Participated
$5 MSeed
KOR Protocol
Jul 2026Participated
$8 MSeries A
Akedo
Jan 2026Participated
$5 MSeed
Printr
Oct 2025Participated
$2 MSeed
Temple
Oct 2025Participated
$5 MSeed
Modhaus
Aug 2025Participated
$15 MSeries B
Vivident
Jan 2025Participated
$2 MSeed
Loot Labs
Oct 2024Participated
$6 MSeed
Skyfire Systems
Aug 2024Participated
$9 MSeed
NPC Labs
Jul 2024Participated
$18 MSeed
Solv Protocol
Jul 2024Participated
$4 MOther Equity
Focus Tree
May 2024Led
$2 MSeed
64
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Sfermion: 64 funding rounds are recorded in the selected participation categories.All available history.
Sfermion: 64 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed531
Series A29
Series B03
Other Equity49
ICO01

Monthly Deal Activity

Sfermion: 64 deals are recorded across 61 months.All available history.
Sfermion: 64 deals are recorded across 61 months. All available history
MonthDeals
Oct '214
Nov '212
Dec '214
Jan '223
Feb '221
Mar '222
Apr '224
May '221
Jun '222
Jul '222
Aug '221
Sep '220
Oct '222
Nov '220
Dec '221
Jan '232
Feb '232
Mar '231
Apr '231
May '230
Jun '230
Jul '230
Aug '231
Sep '230
Oct '230
Nov '234
Dec '232
Jan '240
Feb '242
Mar '242
Apr '245
May '242
Jun '240
Jul '242
Aug '241
Sep '240
Oct '241
Nov '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '251
Sep '250
Oct '252
Nov '250
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '261
Aug '260
Sep '261
Oct '260

Sector Breakdown

Sfermion: Crypto & Blockchain is the largest displayed sector by deal count (45 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.

Sfermion: Crypto & Blockchain is the largest displayed sector by deal count (45 deals). All available history
SectorDeals
Crypto & Blockchain45
Gaming & eSports23
Media & Entertainment17
Fintech10
E-Commerce & Retail9
AR/VR7
Social & Community Platforms7
Networks, Cloud & Communication6
AI & Machine Learning6
Enterprise Software5
Data, Analytics & IT3
Consumer & Lifestyle3
Hardware & Robotics3
Real Estate & Construction2
Marketing & Advertising2
Education & Workforce1
Manufacturing1
Health & Life Sciences1

Deal Size Distribution

Sfermion: 64 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.

Sfermion: 64 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M25
$5M-$10M24
$10M-$25M12
$25M-$50M3
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Sfermion: United States has the largest recorded deal count among the displayed regions (34 deals).All available history.

Top 10 of 16 regions; European countries are grouped as Europe.

Sfermion: United States has the largest recorded deal count among the displayed regions (34 deals). All available history
RegionDeals
United States34
Singapore8
Canada4
Europe4
South Korea2
Hong Kong2
Australia1
197031
Philippines1
Vietnam1
Sfermion: 20 co-investors are shown, with Animoca Brands sharing 15 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.

Sfermion: 20 co-investors are shown, with Animoca Brands sharing 15 recorded deals. All available history
Co-investorShared deals
Animoca Brands15
CMT Digital11
Collab+Currency9
Everyrealm7
Fenbushi Capital6
Hashed6
Shima Capital6
Alumni Ventures5
Big Brain Holdings5
Dragonfly5
Mechanism Capital5
Seed Club Ventures5
6th Man Ventures4
Arrington Capital4
BITKRAFT Ventures4
GSR4
Infinity Ventures Crypto4
Momentum64
SkyVision Capital4
The LAO4

Investment Strategy

Sfermion: Led accounts for 17% and participating for 83% of round participation.All available history.
Sfermion: Led accounts for 17% and participating for 83% of round participation. All available history
CategoryDeals (count)Share (%)
Led1117%
Participating5383%
Sfermion: Single-lead accounts for 45% and co-led for 55% of lead dynamics.All available history.
Sfermion: Single-lead accounts for 45% and co-led for 55% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead545%
Co-led655%

Team

Andrew Steinwold

Managing Partner

Dan Patterson

General Partner

Grant Gryska

Head Of Research