Portfolio
Portfolio

Our Portfolio

It is our view that broad exposure with the optionality to concentrate our focus is a winning strategy. We build service businesses to fill important gaps in the existing market infrastructure. We incubate, acquire, and operate businesses that provide various financial and professional services to financial institutions, corporations, and startups.
Explore open roles at FRC and across the portfolio —
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Abra
Abra
San Francisco, CA, USA
Abra enables both individuals and businesses to safely and securly buy, trade, and borrow against cryptocurrencies all from their app and wallet.
First investment: 2014
abra.com
Wallets & Custody
Active
North America
Limited Holdings
Acala Network
Acala Network
Auckland, New Zealand
The DeFi hub of Polkadot, offering an open platform for applications to use smart contracts or built-in protocols. Powering the aUSD decendtralized stablecoin.
First investment: 2020
acala.network
DeFi
Active
Oceania
Limited Holdings
AlloyX
AlloyX
San Francisco, CA, USA
Decentralized protocol which provides liquid staking for exposure to baskets of undercollateralized crypto loans.
First investment: 2022
alloyx.xyz
DeFi
Active
North America
Limited Holdings
Anode Labs
Anode Labs
Austin, TX, USA
Crypto-based network for virtualized power assets that lets users monetize spare energy capacity and limits overall Co2 emissions.
First investment: 2022
anodelabs.io
DeFi
Active
North America
Limited Holdings
API3
API3
Distributed, Global
Delivering traditional API services to smart contract platforms in a decentralized and trust-minimized way.
First investment: 2020
api3.org
Web3 Infrastructure
Active
Global
Limited Holdings
Arcana
Arcana
Dubai, United Arab Emirates
Focused on building a best-in-class tool kit (auth, data access, and storage) for privacy preserving applications on Ethereum or other EVM-compatible blockchains.
First investment: 2021
arcana.network
Privacy
Active
Asia
Limited Holdings
Arch Finance
Arch Finance
New York, NY, USA
Professionally-built investment strategies automated in decentralized protocols and powered by tokenized index products.
First investment: 2022
arch.finance
DeFi
Active
North America
Limited Holdings
Artie
Artie
Los Angeles, CA, USA
Blending together the worlds of culture, technology, music, art, gaming, and Web3 Artie is a game development platform leveraging NFTs as rewards and in-game assets.
First investment: 2018
artie.com
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Aurora
Aurora
Distributed, Global
Project built on NEAR blockchain that allows for Ethereum Virtual Machine (EVM) contracts to be run on-chain.
First investment: 2022
aurora.dev
Web3 Infrastructure
Active
Global
Limited Holdings
Averon
Averon
San Francisco, CA, USA
Mobile identity verification API solution.
First investment: 2016
averon.a2hosted.com
Identity, Compliance & Security
Active
North America
Limited Holdings
Axoni
Axoni
New York, NY, USA
Axoni has built private blockchain solutions for financial institutions.
First investment: 2013
axoni.com
Enterprise Blockchain
Active
North America
Limited Holdings
Aza Finance
Aza Finance
Nairobi, Kenya
Global financial services firm specializing in international payments, foriegn exchange, and treasury for enterprises doing business in Africa.
First investment: 2014
azafinance.com
Payments
Active
Africa
Limited Holdings
Ballet Crypto
Ballet Crypto
Distributed, Global
Retail-friendly self-custody cold storage crypto wallet.
First investment: 2021
balletcrypto.com
Wallets & Custody
Active
Global
Limited Holdings
BCB Group
BCB Group
London, United Kingdom
European bank serving crypto-native businesses with OTC, yield, custody, and treasury products among others.
First investment: 2021
bcbgroup.com
Banks
Active
Europe
Limited Holdings
Big Time Studios
Big Time Studios
Distributed, Global
A videogame tech company that builds infrastructure to introduce NFTs into player-owned economies.
First investment: 2021
bigtime.gg
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Bigchain DB
Bigchain DB
Berlin, Germany
Blockchain database solutions for businesses and creator of the Ocean Protocol who is focused on giving power back to data owners.
First investment: 2015
bigchaindb.com
Data & Analytics
Active
Europe
Limited Holdings
BitFlyer
BitFlyer
Tokyo, Japan
Japanese cryptocurrency exchange.
First investment: 2014
bitflyer.com
Exchanges
Active
Asia
Limited Holdings
BitGo
BitGo
San Francisco, CA, USA
BitGo offers institutional staking, custody, and trading.
First investment: 2014
bitgo.com
Trading Tools & Platforms
Active
North America
Limited Holdings
Bitmark
Bitmark
Taipei, Taiwan
Distributed registry for digital rights and the creator of the Autonomy NFT mobile wallet.
First investment: 2016
bitmark.com
Metaverse, NFTs & Gaming
Active
Asia
Limited Holdings
Bitnomial
Bitnomial
Chicago, IL, USA
Bitcoin derivatives exchange.
First investment: 2018
bitnomial.com
Exchanges
Active
North America
Limited Holdings
BitOasis
BitOasis
Dubai, United Arab Emirates
Cryptocurrency exchange based in the United Arab Emirates focused on the Middle East and North Africa (MENA) region.
First investment: 2016
bitoasis.net
Exchanges
Active
Asia
Limited Holdings
BitPay
BitPay
Atlanta, GA, USA
BitPay is a leader in enabling crypto payments across a vast merchant network, and also offers cash back on purchases.
First investment: 2013
bitpay.com
Payments
Active
North America
Limited Holdings
Bitso
Bitso
Mexico City, Mexico
Leading Latin American cryptocurrency exchange.
First investment: 2015
bitso.com
Exchanges
Active
North America
Limited Holdings
Bittensor
Bittensor
Distributed, Global
Bittensor is an open-source protocol that powers a decentralized, blockchain-based, machine learning network which aims to result in a pure market for artificial intelligence.
First investment: 2021
bittensor.com
Data & Analytics
Active
Global
Limited Holdings
Blockchain
Blockchain
London, United Kingdom
Global cryptocurrency exchange based in London also offering institutional OTC markets, lending, and custodian services.
First investment: 2017
blockchain.com
Exchanges
Active
Europe
Limited Holdings
Blockstream
Blockstream
Montreal, QC, Canada
Offering a Bitcoin layer-2 solution, mining services, energy services, a block explorer, and more, Blockstream is expanding the capabilities of Bitcoin
First investment: 2016
blockstream.com
Web3 Infrastructure
Active
North America
Limited Holdings
Blokur
Blokur
London, United Kingdom
Blockchain platform for creative rights management, focused on the music industry.
First investment: 2017
blokur.com
Enterprise Blockchain
Active
Europe
Limited Holdings
Bloq
Bloq
Chicago, IL, USA
Enterprise-grade blockchain infrastructure for staking, mining, the metaverse, and more.
First investment: 2016
bloq.com
Enterprise Blockchain
Active
North America
Limited Holdings
Bold Financial Technologies
Bold Financial Technologies
San Francisco, CA, USA
Acquired by Airbnb in 2016. Bold Financial Technologies specilized in facilitating global payments to many recipients, targeting enterprise clients like Airbnb, Uber, and eBay.
First investment: 2014
gobold.com
Payments
Acquires
North America
Limited Holdings
Brave
Brave
San Francisco, CA, USA
Brave is on a mission to protect your privacy online with a privacy preserving web-browser, search engine, and more.
First investment: 2016
brave.com
Privacy
Active
North America
Limited Holdings
Buda
Buda
Santiago, Chile
Leading South American cryptocurrency exchange.
First investment: 2016
buda.com
Exchanges
Active
South America
Limited Holdings
C3 Protocol
C3 Protocol
Redwood City, CA, USA
Built atop Algorand, C3 allows for cross-margin trading in DeFi and aims to reduce the fragmentation of liquidity across blockchains through their novel multi-chain protocol.
First investment: 2021
c3.io
Web3 Infrastructure
Active
North America
Limited Holdings
Cambridge Blockchain
Cambridge Blockchain
Cambridge, United Kingdom
Acquired by Blockchains LLC in 2020. Cambridge Blockchain helped institutions meet the strictest data privacy regulations with seamless data validation.
First investment: 2016
cambridgeblockchain.org
Identity, Compliance & Security
Acquired
Europe
Limited Holdings
Celestia
Celestia
Distributed, Global
Solving blockchain scaling by building an interoperable blockchain focusing on modularity and data availability.
First investment: 2022
celestia.org
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Ceramic Network
Ceramic Network
Distributed, Global
Creators of Ceramic Network, building a decentralized data infrastructure allowing for interoperability between wallets, apps, databases, and services across the Web3 ecosystem.
First investment: 2020
ceramic.network/
Web3 Infrastructure
Active
Global
Limited Holdings
Chain
Chain
Distributed, Global
Acquired by Stellar in 2018 and spun out in 2020. Chain was on a mission to enable a smarter and more connected economy, building infrastructure for Web3.
First investment: 2014
chain.com
Web3 Infrastructure
Acquired
Global
Limited Holdings
Chainalysis
Chainalysis
New York, NY, USA
Blockchain compliance and transaction monitoring for banks, law enforcement and other organizations.
First investment: 2015
chainalysis.com
Data & Analytics
Active
North America
Limited Holdings
Circle
Circle
Boston, MA, USA
Blockchain-based integrated consumer finance company and creator of USDC.
First investment: 2014
circle.com
Stablecoins
Active
North America
Limited Holdings
Civic
Civic
Palo Alto, CA, USA
Blockchain identity management software for solving decentralized identity.
First investment: 2016
civic.com
Identity, Compliance & Security
Active
North America
Limited Holdings
Cognito
Cognito
London, United Kingdom
Acquired by Plaid in 2022. Cognito was an identity management and verification software that automated core compliance and onboarding functions.
First investment: 2014
cognitohq.com
Identity, Compliance & Security
Acquired
Europe
Limited Holdings
Coinbase
Coinbase
San Francisco, CA, USA
IPO 2021. Dominant US cryptocurrency exchange.
First investment: 2013
coinbase.com
Exchanges
Public
North America
Limited Holdings
CoinDesk
CoinDesk
New York, NY, USA
Acquired by Bullish in 2023. Media, Data, and Events.
Acquired: 2016
coindesk.com
Data & Analytics
Acquired
North America
Subsidiaries
Coinhouse
Coinhouse
Paris, France
Leading French cryptocurrency exchange.
First investment: 2017
coinhouse.com
Exchanges
Active
Europe
Limited Holdings
Coinjar
Coinjar
Melbourne, Australia
Leading Australian cryptocurrency exchange.
First investment: 2017
coinjar.com
Exchanges
Active
Oceania
Limited Holdings
CoinList
CoinList
San Francisco, CA, USA
Compliant token sales platform operating an exchange.
First investment: 2018
coinlist.co
Exchanges
Active
North America
Limited Holdings
Coinme
Coinme
Seattle, WA, USA
Lets people buy crypto with cash at its network of kiosks, ATMs, and merchants.
First investment: 2020
coinme.com
Web3 Infrastructure
Active
North America
Limited Holdings
CoinMetrics
CoinMetrics
Boston, MA, USA
Coin Metrics organizes the world's crypto data and makes it transparent and accessible.
First investment: 2019
coinmetrics.io
Data & Analytics
Active
North America
Limited Holdings
Coins.ph
Coins.ph
Manila, Phillipines
Acquired by Go-Jek in 2019. Coins.ph started as a Phillippines based crypto exchange, but pivoted to broader fintech later on offering services such as mobile payments.
First investment: 2014
coins.ph
Exchanges
Acquired
Asia
Limited Holdings
Colu
Colu
Tel Aviv, Israel
Creates "city coins" to help incentivize strong civic engagement in these cities.
First investment: 2014
colu.com
Payments
Active
Asia
Limited Holdings
Credora
Credora
San Francisco, CA, USA
Zero-knowledge infrastructure that enables risk-netting across multiple venues and counterparties, leading to more transparency for credit markets.
First investment: 2020
credora.io
Trading Tools & Platforms
Active
North America
Limited Holdings
Curv
Curv
New York, NY, USA
Acquired by PayPal in 2021. Curve was a crytpocurrency security company that offers a cloud-based service to access crypto wallets without any hardware device.
First investment: 2018
curv.co
Wallets & Custody
Acquired
North America
Limited Holdings
Custodia
Custodia
Wyoming, WY, USA
Custodia Bank intends to provide a full suite of banking and financial services for customers looking to minimize regulatory and transactional risks across digital assets.
First investment: 2020
custodiabank.com
Banks
Active
North America
Limited Holdings
Custos
Custos
Stellenbosch, South Africa
Combatting digital piracy globally using decentralized systems such as the Bitcoin blockchain to track, watermark, and protect digital content.
First investment: 2016
custostech.com
Web3 Infrastructure
Active
Africa
Limited Holdings
Cyphlens
Cyphlens
New York, New York
Cyphlens enables secure communications and transaction approvals even if your network, browser, or account has been compromised.
First investment: 2024
cyphlens.com
Identity, Compliance & Security
Active
North America
Limited Holdings
Dapper Labs
Dapper Labs
Vancouver, BC, Canada
Creator of CryptoKitties, Flow Blockchain, NBA TopShot among other NFT centric games.
First investment: 2018
dapperlabs.com
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Decent
Decent
Austin, TX, USA
Supporting small businesses by providing HR support, payroll support, and health insurance benefits through their platform.
First investment: 2018
decent.com
Enterprise Blockchain
Active
North America
Limited Holdings
Decent DAO
Decent DAO
Miami, FL, USA
On-chain crypto venture studio that creates open-source tokenized protocols and infrastructure.
First investment: 2022
decentlabs.io
Web3 Infrastructure
Active
North America
Limited Holdings
Decentral Games
Decentral Games
Los Angeles, CA, USA
Decentral Games has established one of the most popular Decentraland attractions with it's metaverse casino-style poker games.
First investment: 2020
decentral.games
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Decentraland
Decentraland
Distributed, Global
One of the most well known blockchain-based open metaverses.
First investment: 2017
decentraland.org
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
DeSo
DeSo
Distributed, Global
Social media platform that allows users to purchase "creator coins" and is powered by the native DeSo token.
First investment: 2021
bitclout.com
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Digital Assets Data
Digital Assets Data
Denver, CO, USA
Enterprise-grade software and data feeds for crypto hedge funds, protocol teams, family offices, research firms, global consulting firms, banks, sovereigns, and other market participants.
First investment: 2018
digitalasset.com
Trading Tools & Platforms
Exited
North America
Limited Holdings
Dune Analytics
Dune Analytics
Oslo, Norway
Blockchain analytics company that allows users to query, visualize, and share smart-contract data in the form of dashboards.
First investment: 2020
dune.com
Data & Analytics
Active
Europe
Limited Holdings
Earn
Earn
San Francisco, CA, USA
Acquired by Coinbase in 2018. Earn focused on rewarding participants for completing defined tasks. This could be answering emails, or providing opinions and other feedback .
First investment: 2016
earn.com
Other
Acquired
North America
Limited Holdings
Eco
Eco
Distributed, Global
Financial platform offering users rewards on spending and saving, building a truly open rewards ecosystem.
First investment: 2021
eco.com
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Elliptic
Elliptic
London, United Kingdom
Blockchain analytics and surveillance for AML, fraud detection, and compliance.
First investment: 2016
elliptic.co
Data & Analytics
Active
Europe
Limited Holdings
Elwood
Elwood
London, United Kingdom
Leading cryptocurrency order and execution management system (OEMS) and porfolio management system (PMS).
First investment: 2022
elwood.io
Trading Tools & Platforms
Active
North America
Limited Holdings
Embed
Embed
Barcelona, Spain
Marketplace that allows brands to advertise on NFTs.
First investment: 2022
embed.xyz
Metaverse, NFTs & Gaming
Active
Europe
Limited Holdings
Enigma
Enigma
San Francisco, CA, USA
Ethereum smart contracts specialized for privacy.
First investment: 2016
Privacy
Exited
North America
Limited Holdings
ErisX
ErisX
Chicago, IL, USA
Acquired by Cboe in 2022. ErisX was an operator of a U.S. based digital asset spot market, a regulated futures exchange, and a regulated clearinghouse.
First investment: 2018
erisx.com
Exchanges
Acquired
North America
Limited Holdings
Etherscan
Etherscan
Kuala Lumpur, Malaysia
Leading Ethereum block explorer.
First investment: 2016
etherscan.io
Data & Analytics
Active
Asia
Limited Holdings
eToro
eToro
Tel Aviv, Israel
Social trading focused, cryptocurrency exchange.
First investment: 2018
etoro.com
Web3 Infrastructure
Exchanges
Asia
Limited Holdings
Everledger
Everledger
London, United Kingdom
Exited. Everledger created a blockchain for diamond ownership and transaction history to provide verification for insurance companies, claimants, and law enforcement.
First investment: 2016
everledger.io
Other
Exited
Europe
Limited Holdings
Figure
Figure
San Francisco, CA, USA
Figure is transforming the financial services industry using their Provenance Blockchain for loan origination, equity management, private fund services, banking, and payments.
First investment: 2018
figure.com
Enterprise Blockchain
Active
North America
Limited Holdings
Filament
Filament
Reno, NV, USA
Blockchain hardware & software solutions for enterprise and IoT.
First investment: 2015
filament.com
Enterprise Blockchain
Exited
North America
Limited Holdings
Fireblocks
Fireblocks
New York, NY, USA
Fireblocks is removing the complexity of working with digital assets for institutions with their software and APIs to custody, manage treasury operations, access DeFi, and more.
First investment: 2020
fireblocks.com
Wallets & Custody
Active
North America
Limited Holdings
Flare Network
Flare Network
London, United Kingdom
Flare is a blockchain centered on decentralized interoperability with a native oracle for these dapps to leverage on-chain, off-chain, or multi-chain data.
First investment: 2021
flare.xyz
Blockchains - L1s & L2s
Active
Europe
Limited Holdings
Fleek
Fleek
New York, NY, USA
Fleek makes it easy to build websites and apps on top of IPFS, Filecoin, Textile, and other decentralized protocols building the Open Web.
First investment: 2018
fleek.co
Web3 Infrastructure
Active
North America
Limited Holdings
Flipside Crypto
Flipside Crypto
Boston, MA, USA
Crypto data analytics company and creator of the FCAS score - a relative ranking of cryptocurrencies.
First investment: 2018
flipsidecrypto.xyz
Data & Analytics
Active
North America
Limited Holdings
Fordefi
Fordefi
New York, NY, USA
Secure institutional custody solution.
First investment: 2021
fordefi.com
Wallets & Custody
Active
North America
Limited Holdings
Forta
Forta
Distributed, Global
Network which monitors smart contracts, and other attack vectors in real time to alert or mitigate security events.
First investment: 2022
forta.org
Identity, Compliance & Security
Active
Global
Limited Holdings
Foundry
Foundry
Rochester, NY, USA
Decentralized Infrastructure & Mining
Founded: 2019
foundrydigital.com
Web3 Infrastructure
Active
North America
Subsidiaries
Gamma
Gamma
Distributed, Global
Decentralized active liquidity management protocol that allows users to deposit assets to various protocols.
First investment: 2021
gammastrategies.org
DeFi
Active
Global
Limited Holdings
Gem
Gem
Los Angeles, CA, USA
Acquired by Blockdaemon in 2022. Gem's focus was on developer tools to seamlessly connect external crypto data, assets, and fiat without ever leaving your app.
First investment: 2015
gem.co
Web3 Infrastructure
Acquired
North America
Limited Holdings
Genesis
Genesis
New York, NY, USA
Institutional Financial Services
Founded: 2013
genesistrading.com
Other
Active
North America
Subsidiaries
Grayscale
Grayscale
Stamford, CT, USA
Asset Manager
Founded: 2013
grayscale.com
Other
Active
North America
Subsidiaries
GrowYourBase
GrowYourBase
San Francisco, CA, USA
Integrated metaverse design and development firm.
First investment: 2021
growyourbase.co
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Gyft
Gyft
Mountain View, CA, USA
Mobile gift card app that allows customers to buy, store, send, and redeem gift cards conveniently from their mobile device.
First investment: 2013
gyft.com
Other
Exited
North America
Limited Holdings
Halborn
Halborn
Distributed, Global
Crypto security firm offering CeFi and DeFi clients end-to-end security (pen testing, node support, smart contract audits, etc.).
First investment: 2022
halborn.com
Identity, Compliance & Security
Active
Global
Limited Holdings
Hashflow
Hashflow
San Francisco, CA, USA
Hashflow is a decentralized exchange designed for interoperability, zero slippage, and MEV-protected trades.
First investment: 2020
hashflow.com
DeFi
Active
North America
Limited Holdings
Hedera Hashgraph
Hedera Hashgraph
New York, NY, USA
Hedera is positioned as the 3rd generation public ledger, building on Bitcoin's and Ethereum's learnings and innovating further with a new hashgraph consensus layer.
First investment: 2018
hedera.com
Blockchains - L1s & L2s
Active
North America
Limited Holdings
HiGlobe
HiGlobe
Palo Alto, CA, USA
Stablecoin-based payment platform focused on helping US small to medium businesses pay counterparty businesses abroad.
First investment: 2022
higlobe.com
Stablecoins
Active
North America
Limited Holdings
Hiro
Hiro
New York, NY, USA
Core developers of the Stacks protocol bringing developer tools to Bitcoin to enable smart contracts.
First investment: 2014
hiro.so
Web3 Infrastructure
Active
North America
Limited Holdings
Horizen Labs
Horizen Labs
Distributed, Global
Leaders in zero knowledge cryptography, Horizen Labs have built blockchain developer tools and a strategy advisory service to help launch any project on any platform.
First investment: 2019
horizenlabs.io
Web3 Infrastructure
Active
Global
Limited Holdings
Horizon Games
Horizon Games
Toronto, ON, Canada
To make internet economies fun, accessible, and beneficial for all, Horizon Games has built a developer platform, smart wallet, NFT based games, and an NFT marketplace.
First investment: 2018
horizon.io
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Hubble
Hubble
Distributed, Global
Borrowing and lending marketplace on Solana.
First investment: 2022
hubbleprotocol.io
DeFi
Active
Global
Limited Holdings
Improbable
Improbable
London, United Kingdom
Builds software to support large-scale multiplayer games and is launching a new decentralized metaverse, M Squared.
First investment: 2022
improbable.io
Metaverse, NFTs & Gaming
Active
Europe
Limited Holdings
JackPocket
JackPocket
New York, NY, USA
Official state lottery on your phone.
First investment: 2015
jackpocket.com
Other
Active
North America
Limited Holdings
Jiko
Jiko
New York, NY, USA
Digital bank with superior security and user interface.
First investment: 2016
jiko.io
Banks
Active
North America
Limited Holdings
JSGenesis (Joystream)
JSGenesis (Joystream)
Oslo, Norway
Team building Joystream, a decentralized digital content platform working to empower creators, builders, and users.
First investment: 2015
jsgenesis.com
Blockchains - L1s & L2s
Active
Europe
Limited Holdings
JSGenesis (Joystream)
Karak
San Francsico, CA, USA
The universal cloud layer powered by the entire digital economy.
First investment: 2021
karak.network
Blockchains - L1s & L2s
Active
Europe
Limited Holdings
Korbit
Korbit
Seoul, South Korea
Acquired by Nexon parent NXC in 2017. Korbit was Korea's second largest cryptocurrency exchange at the time.
First investment: 2014
korbit.co.kr
Exchanges
Acquired
Asia
Limited Holdings
Kraken
Kraken
San Francisco, CA, USA
Cryptocurrency exchange, market-leader in Europe.
First investment: 2014
kraken.com
Exchanges
Active
North America
Limited Holdings
Kwil
Kwil
Los Angeles, CA, USA
Decentralized, community owned SQL database solution for building advanced decentralized applications (dApps) and protocols.
First investment: 2022
kwil.com
Data & Analytics
Active
North America
Limited Holdings
Ledger
Ledger
Paris, France
Industry-leading cryptocurrency hardware wallet manufacturer.
First investment: 2017
ledger.com
Wallets & Custody
Active
Europe
Limited Holdings
Lightning
Lightning
San Francisco, CA, USA
Open-source protocol to help Bitcoin overcome scalability and latency challenges by building a layer-2 for Bitcoin.
First investment: 2016
lightning.engineering
Blockchains - L1s & L2s
Active
North America
Limited Holdings
Livepeer
Livepeer
New York, NY, USA
Open, decentralized infrastructure for video transcoding, built on the Ethereum blockchain.
First investment: 2017
livepeer.org
Blockchains - L1s & L2s
Active
North America
Limited Holdings
Lolli
Lolli
New York, NY, USA
eBates for Bitcoin when shopping with their partners.
First investment: 2018
lolli.com
Payments
Active
North America
Limited Holdings
Luno
Luno
London, United Kingdom
Consumer Wallet
First investment: 2014
Acquired: 2020
luno.com
Wallets & Custody
Active
Europe
Subsidiaries
Madhive
Madhive
New York, NY, USA
Acquired in 2023. The future of programmatic advertising for television.
First investment: 2017
madhive.com
Enterprise Blockchain
Exited
North America
Limited Holdings
Magic
Magic
San Francisco, CA, USA
SDK for password-less logins.
First investment: 2020
growyourbase.co
Web3 Infrastructure
Active
North America
Limited Holdings
Masa
Masa
San Francisco, CA, USA
Masa is the world’s personal data network. Own, share, and earn from your data to power the decentralized AI economy.
First investment: 2022
masa.finance
Identity, Compliance & Security
Active
North America
Limited Holdings
Mask Network
Mask Network
Distributed, Global
Bridges Web 2.0 and Web 3.0, empowering users to access the decentralized web within mainstream centralized platforms.
First investment: 2021
mask.io
Privacy
Active
Asia
Limited Holdings
Mercari
Mercari
Sydney, Australia
Leading Australian regulated derivatives exchange, now offering digital assets.
First investment: 2022
mercari.com.au
Exchanges
Active
Oceania
Limited Holdings
Merit Circle
Merit Circle
Distributed, Global
DAO that invests in play-to-earn games and operates a platform designed to drive value across gaming ecosystems.
First investment: 2021
meritcircle.io
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Merkle Science
Merkle Science
Singapore, Singapore
Merkle Science built next generation risk mitigation, complicance, and forensics for crypto-native businesses, DeFi participants, financial institutions, and government.
First investment: 2019
merklescience.com
Data & Analytics
Active
Asia
Limited Holdings
Meson Network
Meson Network
Distributed, Global
Open marketplace for internet bandwidth.
First investment: 2021
meson.network
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Metakey
Metakey
Melbourne, Australia
Developing metaverse interoperability and NFT integration solutions to power a blockchain agnostic future for NFTs.
First investment: 2022
themetakey.com
Metaverse, NFTs, & Gaming
Active
Oceania
Limited Holdings
Metalith
Metalith
The Bahamas, Bahamas
Acquired in 2021. Decentraland analytics provider and LAND price index provider. The purpose of Metalith was to offer a rich set of features to LAND owners in Decentraland.
First investment: 2019
metalith.io
Metaverse, NFTs & Gaming
Acquires
Caribbean
Limited Holdings
Metamundo
Metamundo
Amsterdam, The Netherlands
Metamundo has built a platform to allow designers and 3D creators to mint, sell, and license 3D NFT assets to use across metaverses.
First investment: 2021
metamundo.co
Metaverse, NFTs & Gaming
Active
Europe
Limited Holdings
Metastreet
Metastreet
Distributed, Global
MetaStreet Labs is building the technology behind an interest rate protocol that bridges NFT and DeFi, enabling scaled liquidity routing for NFT collateral.
First investment: 2022
metastreet.xyz
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Metaversal
Metaversal
New York, NY, USA
Venture studio investing in and driving value in NFT assets and leading projects across the metaverse.
First investment: 2021
metaversal.gg
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
MONEX
MONEX
Tokyo, Japan
Monex is an online securities brokerage firm based in Japan, offering financial products that cater to customers' needs.
First investment: 2021
monexgroup.jp
Trading Tools & Platforms
Exited
Asia
Limited Holdings
Money Button
Money Button
San Francisco, CA, USA
A simple way to make or accept payments over the internet. Payments cost less than one cent and are nearly instant.
First investment: 2016
moneybutton.com
Payments
Exited
North America
Limited Holdings
Multis
Multis
Paris, France
Providing banking services, corporate cards, and financial software for Web3 businesses.
First investment: 2020
multis.co
Banks
Active
Europe
Limited Holdings
NEAR
NEAR
Distributed, Global
NEAR Protocol is a layer 1 blockchain with a unique consensus mechanism solving for scaling, and has become a leading smart contract platform.
First investment: 2021
growyourbase.co
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Netki
Netki
Los Angeles, CA, USA
Digital identity solutions for blockchain companies.
First investment: 2016
netki.com
Identity, Compliance & Security
Active
North America
Limited Holdings
NFT Bank
NFT Bank
Seoul, South Korea
NFT Bank has built a platform that lets users track, manage, value, and find liquidity for Ethereum-based NFT projects.
First investment: 2021
nftbank.ai
Metaverse, NFTs & Gaming
Active
Asia
Limited Holdings
NFTfi
NFTfi
Cape Town, South Africa
NFTfi is an NFT financialization platform enabling decentralized, trustless, peer-to-peer NFT lending and borrowing, unlocking improved liquidity for users NFT assets.
First investment: 2022
nftfi.com
Metaverse, NFTs & Gaming
Active
Africa
Limited Holdings
Nic.kl
Nic.kl
New York, NY, USA
One simple subscription for access to multiple leading business outlets such as WSJ, NYT, etc.
First investment: 2018
nicklpass.com
Other
Active
North America
Limited Holdings
Norbloc
Norbloc
Stockholm, Sweden
Blockchain-based KYC solutions for enterprises which simplifies customer onboarding and improves compliance.
First investment: 2017
norbloc.com
Enterprise Blockchain
Active
Europe
Limited Holdings
Numerai
Numerai
San Francisco, CA, USA
Aggregating data science models to predict the stock market by gamifying the model performance and rewarding participants with the native NMR token.
First investment: 2021
numer.ai
Data & Analytics
Active
North America
Limited Holdings
Nym Technologies
Nym Technologies
Distributed, Global
Decentralized mixnet (privacy layer) that prevents traffic analysis by third-party adversaries through eliminating data leakage.
First investment: 2021
nymtech.net
Privacy
Active
Global
Limited Holdings
Octopus Network
Octopus Network
Distributed, Global
The Octopus Network is a multichain, interoperable cryptonetwork for launching and running Substrate-based, EVM compatible, application-specific blockchains.
First investment: 2021
oct.network
Web3 Infrastructure
Active
Global
Limited Holdings
Odsy
Odsy
Tel Aviv, Israel
Odsy has built a secure, programmable, decentralized access layer to Web3 through their dynamic, decentralized wallets (dWallets).
First investment: 2022
odsy.xyz
Wallets & Custody
Active
Asia
Limited Holdings
Omniex
Omniex
San Francisco, CA, USA
Acquired by Gemini in 2022. Omniex built institutional-grade trading tools for cryptocurrency investors.
First investment: 2017
omniex.io
Trading Tools & Platforms
Acquired
North America
Limited Holdings
Ondo Finance
Ondo Finance
San Francisco, CA, USA
Decentralized risk marketplace that makes DeFi yields available to institutional investors.
First investment: 2021
ondo.finance
DeFi
Active
North America
Limited Holdings
OpenZeppelin
OpenZeppelin
Distributed, Global
OpenZeppelin (a leading smart contract auditing firm) provides security products to build, automate, and operate decentralized applications, such as their product Defender which automates smart contract operations.
First investment: 2015
openzeppelin.com
Identity, Compliance & Security
Active
Global
Limited Holdings
OTCM (OTC Market)
OTCM (OTC Market)
New York, NY, USA
To create better informed and more efficient financial markets, we organize securities into three markets based on the quality and quantity of information companies disclose.
First investment: 2021
otcmarkets.com
Trading Tools & Platforms
Active
North America
Limited Holdings
OXIO
OXIO
New York, NY, USA
Oxio is a marketplace for 100% cloud-based wireless connectivity, pioneering the mobile-carrier-as-a-service model.
First investment: 2019
oxio.com
Enterprise Blockchain
Active
North America
Limited Holdings
Paradigm
Paradigm
New York, NY, USA
Institutional liquidity network for crypto derivatives traders, offering seamless settlement, automated RFQs, and audit records.
First investment: 2020
paradigm.co
Trading Tools & Platforms
Active
Gobal
Limited Holdings
Parity
Parity
Berlin, Germany
Building core blockchain infrastructure, including Ethereum clients, Substrate, and Polkadot open-source protocols.
First investment: 2017
parity.io
Blockchains - L1s & L2s
Active
Europe
Limited Holdings
PawnFi
PawnFi
Distributed, Global
Decentralized lending and leasing marketplace to provide liquidity for NFTs and other non-standard assets.
First investment: 2021
pawnfi.com
DeFi
Active
Global
Limited Holdings
Paxos
Paxos
New York, NY, USA
Institutional cryptocurrency exchange and custodian.
First investment: 2013
paxos.com
Exchanges
Active
North America
Limited Holdings
Polygon
Polygon
Distributed, Global
Polygon is a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sarificing on security.
First investment: 2021
polygon.technology
Blockchains - L1s & L2s
Active
Global
Limited Holdings
Polymer
Polymer
New York, NY, USA
Developer of cross-chain tooling, by bringing together infrastructure focused builders to build and operate IBC infrastructure.
First investment: 2021
polymerlabs.org
Web3 Infrastructure
Active
North America
Limited Holdings
POSaBIT
POSaBIT
Seattle, WA, USA
Fully-compliant payment solutions for the Cannabis industry.
First investment: 2017
posabit.com
Payments
Active
North America
Limited Holdings
Protego
Protego
Seattle, WA, USA
Protego is a modern Trust Bank, built solely to help institutional investors securely benefit from emerging digital asset offerings.
First investment: 2021
protegotrust.com
Banks
Active
North America
Limited Holdings
Protocol Labs (Filecoin)
Protocol Labs (Filecoin)
San Francisco, CA, USA
Creators of Filecoin and IPFS, Protocol Labs is an open-course research, development, and deployment laboratory.
First investment: 2014
protocol.ai
Blockchains - L1s & L2s
Active
North America
Limited Holdings
Provenance
Provenance
London, United Kingdom
Developer of a blockchain-based data platform designed to offer open and accessible information about products and supply chains. The company's platform provides real-time data to create transparency by tracing the origins and histories of products
First investment: 2017
provenance.org
Enterprise Blockchain
Active
Europe
Limited Holdings
QoHash
QoHash
Montreal, QC, Canada
Data security and sensitive data risk management solutions for large organizations aiming to prevent data breaches.
First investment: 2019
qohash.com
Enterprise Blockchain
Active
North America
Limited Holdings
Qu Capital
Qu Capital
New York, NY, USA
Acquired by Genesis in 2019. Qu Capital was a quantitative asset management firm, specializing in the emerging digital asset market.
First investment: 2019
qu.capital
Trading Tools & Platforms
Acquired
North America
Limited Holdings
Radar Relay
Radar Relay
Walnut, CA, USA
Acquired by Core Scientific in 2021. Radar Relay was the leading open order book relayer on the 0x protocol.
First investment: 2017
radar.tech
Exchanges
Acquired
North America
Limited Holdings
Railgun
Railgun
Distributed, Global
Railgun has built a privacy and anonymity system directly on-chain on Ethereum; interoperable with DEXs, lending platforms, and other popular smart contract applications.
First investment: 2022
railgun.org
Privacy
Active
Global
Limited Holdings
Rainbow
Rainbow
New York, NY, USA
Design-centric Ethereum wallet.
First investment: 2019
rainbow.me
Wallets & Custody
Active
North America
Limited Holdings
Reserve
Reserve
San Francisco, CA, USA
Reserve is building a stable, universal currency to combat inflation and rising costs of goods and services.
First investment: 2018
reserve.org
Stablecoins
Active
North America
Limited Holdings
Revelator
Revelator
Tel Aviv, Israel
Data management platform for the music industry to manage, track, and promote your music more effectively.
First investment: 2016
revelator.com
Enterprise Blockchain
Active
Asia
Limited Holdings
Reverie
Reverie
Cambridge, MA, USA
Reverie lays the groundwork for DAOs, helping design and implement strategies that allow them to grow more quickly.
First investment: 2021
reverie.ooo
Web3 Infrastructure
Active
North America
Limited Holdings
Ripio
Ripio
Buenos Aires, Argentina
Leading South American cryptocurrency exchange and trading solutions provider.
First investment: 2013
ripio.com
Exchanges
Active
South America
Limited Holdings
Ripple
Ripple
San Francisco, CA, USA
Leader in cross-border payments with nearly-instant settlement.
First investment: 2013
ripple.com
Payments
Active
North America
Limited Holdings
RSK
RSK
Montevideo, Uruguay
RSK enables smart contracts, near instant payments, and higher scalability on Bitcoin.
First investment: 2016
rsk.co
Blockchains - L1s & L2s
Active
South America
Limited Holdings
Runloop
Runloop
San Francisco, CA, USA
Runloop builds simulation environments for DeFi and trans autonomous agents to provide liquidity, manage risk, and discover trading opportunities at scale.
First investment: 2021
runloop.xyz
Trading Tools & Platforms
Active
North America
Limited Holdings
Safe
Safe
Distributed, Global
The most trusted multi-signature, customizable, smart contract wallet for Ethereum.
First investment: 2022
gnosis-safe.io
Wallets & Custody
Active
Global
Limited Holdings
Safello
Safello
Stockholm, Sweden
Leading Nordic cryptocurrency exchange.
First investment: 2014
safello.com
Exchanges
Public
Europe
Limited Holdings
Scout
Scout
Brooklyn, NY, USA
Acquired by Uniswap in 2022. Scout designed a no-code approach to blockchain data analytics.
First investment: 2018
scout.cool
Data & Analytics
Acquired
North America
Limited Holdings
SFOX
SFOX
San Francisco, CA, USA
Institutional cryptocurrency prime dealer and trading platform providing liquidity, security, and infrastructure to unlock the full potential of digital assets.
First investment: 2017
sfox.com
Trading Tools & Platforms
Active
North America
Limited Holdings
ShapeShift
ShapeShift
San Francisco, CA, USA
A free open source platform to trade, track, buy, and earn. Community owned. Private. Non-custodial. Multi-chain.
First investment: 2015
shapeshift.com
Exchanges
Active
North America
Limited Holdings
Silvergate
Silvergate
San Diego, USA
IPO 2019. Leading commercial bank serving the digital asset industry.
First investment: 2018
silvergate.com
Banks
Public
North America
Limited Holdings
Skew
Skew
London, United Kingdom
Acquired by Coinbase in 2021. Skew was an institutional-grade blockchain data analytics platform.
First investment: 2020
skew.com
Data & Analytics
Acquired
Europe
Limited Holdings
Skuchain
Skuchain
San Francisco, CA, USA
Enterprise blockchain solutions for supply chains, unlocking the full power of global trade.
First investment: 2015
skuchain.com
Enterprise Blockchain
Active
North America
Limited Holdings
Slingshot (Dexag)
Slingshot (Dexag)
San Francisco, CA, USA
Slingshot is a powerful DEX supporting DeFi on Arbitrum, Optimism, and Polygon layer 2s.
First investment: 2020
slingshot.finance
DeFi
Active
North America
Limited Holdings
Snickerdoodle
Snickerdoodle
San Francisco, CA, USA
Redefining data collection and advertising online, data is packaged into tokens which can then be selectively shared with brands for rewards.
First investment: 2021
snickerdoodlelabs.io
Data & Analytics
Active
North America
Limited Holdings
Space
Space
Distributed, Global
Building the next frontier of social commerce experiences in the metaverse.
First investment: 2021
tryspace.com
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Space and Time
Space and Time
Distributed, Global
The first decentralized data warehouse enabling lightspeed-fast analytics at enterprise scale.
First investment: 2022
spaceandtime.io
Data & Analytics
Active
Global
Limited Holdings
SSV Network
SSV Network
Tel Aviv, Israel
SSV.Network is designed for building high-performance, secure, and decentralized ETH staking applications with its distributed validator infrastructure for developers.
First investment: 2021
ssv.network
Web3 Infrastructure
Active
Asia
Limited Holdings
Staked
Staked
New York, NY, USA
Acquired by Kraken in 2021. Staked was a non-custodial staking platform that enabled investors in Proof-of-Stake networks to easily and securely compound their holdings.
First investment: 2019
staked.us
DeFi
Acquired
North America
Limited Holdings
Stakes
Stakes
New York, NY, USA
Sports wagering platform using NFTs to build reputation and reward users for their successful predictions with a focus on bringing people together socially around sports.
First investment: 2014
playwithstakes.com/
Metaverse, NFTs & Gaming
Active
North America
Limited Holdings
Stacks
Stacks
New York, NY, USA
The Bitcoin Network's smart contract layer, enabling DeFi, NFTs, and apps for Bitcoin. Originally founded as Blockstack.
First investment: 2014
stacks.co
Blockchains - L1s & L2s
Active
North America
Limited Holdings
Staking Rewards
Staking Rewards
Lisbon, Portugal
Central information hub and leading data aggregator for the crypto staking industry.
First investment: 2021
stakingrewards.com
Data & Analytics
Active
Europe
Limited Holdings
Streami
Streami
Seoul, South Korea
Acquired by Binance in 2023. Creators of GOPAX South Korean cryptocurrency exchange.
First investment: 2016
streami-en.imweb.me
Exchanges
Acquired
Asia
Limited Holdings
Suade
Suade
London, United Kingdom
Provides software to financial institutions that transforms regulatory reporting.
First investment: 2021
suade.org
Other
Active
Europe
Limited Holdings
SubQuery
SubQuery
Auckland, New Zealand
Decentralized data indexing and data querying protocol for Web3, currently supporting Polkadot, Avalanche, Cosmos, Algorand, and Kusama.
First investment: 2021
subquery.network
Web3 Infrastructure
Active
Oceania
Limited Holdings
Tagomi
Tagomi
Chicago, IL, USA
Acquired by Coinbase in 2020. Tagomi was an electronic brokerage for digital assets, combining institutional-grade services with proven robust infrastructure .
First investment: 2018
tagomi.com
Trading Tools & Platforms
Acquired
North America
Limited Holdings
Taker Protocol
Taker Protocol
Distributed, Global
Decentralized multichain liquidity protocol for NFTs and other novel crypto assets, allowing investors to deploy them for collateralized lending.
First investment: 2021
taker.org
DeFi
Active
Global
Limited Holdings
The Graph
The Graph
San Francisco, CA, USA
A data indexing protocol for querying networks like Ethereum and IPFS, making data easily accessible.
First investment: 2020
thegraph.com
Web3 Infrastructure
Active
North America
Limited Holdings
Tierion
Tierion
Mountain View, CA, USA
Acquired in 2021. Tierion created technology and products that reduce the cost and complexity of trust, by proving data validity.
First investment: 2016
tierion.com
Web3 Infrastructure
Acquired
North America
Limited Holdings
Token (M10)
Token (M10)
San Francisco, CA, USA
An open banking platform driving the shift from traditional payment methods to faster, fairer, frictionless account-to-account payments in Europe.
First investment: 2016
m10.io
Payments
Active
North America
Limited Holdings
Tribal Credit
Tribal Credit
Distributed, Global
Provides emerging-market small and medium businesses with lending and payment services, credit cards, and a powerful spend management platform.
First investment: 2021
tribal.credit
Other
Active
Global
Limited Holdings
Trust Machines
Trust Machines
Taipei, Taiwan
Building on Stacks and Hiro, Trust Machines is building the largest ecosystem of Bitcoin applications.
First investment: 2021
trustmachines.co
Other
Active
Asia
Limited Holdings
Twilight
Twilight
Distributed, Global
Twilight is a layer 2 protocol for building private financial applications, where the validity of computation over encrypted data is proven in zero-knowldege.
First investment: 2021
twilight.finance
Privacy
Active
Global
Limited Holdings
Unocoin
Unocoin
Tumkur, India
India's trusted Bitcoin and cryptocurrency trading platform.
First investment: 2014
unocoin.com/
Exchanges
Active
Asia
Limited Holdings
Veem
Veem
San Francisco, CA, USA
Veem enables businesses and customers to send and receive international payments more easily.
First investment: 2014
veem.com
Payments
Active
North America
Limited Holdings
Vegas City
Vegas City
Distributed, Global
Vegas City is one of the largest districts within Decentraland where users can create, experience, and monetize their content and applications.
First investment: 2018
vegascity.org
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Vincent
Vincent
New York, NY, USA
Vincent has built a search engine designed to help you find new, high quality alternative investment opportunities.
First investment: 2021
withvincent.com
Other
Active
North America
Limited Holdings
Volare
Volare
Distributed, Global
Decentralized platform that allows users to construct, trade and manage crypto exotic options.
First investment: 2021
volare.finance
DeFi
Active
Global
Limited Holdings
YGGSEA
W3GG
Distributed, Global
The first subDAO of YGG, creator of the biggest virtual world economy, optimizing its community-owned assets for maximum utility and sharing its profits with its token holders.
First investment: 2021
w3gg.io
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
Wealthcoin
Wealthcoin
San Mateo, CA, USA
App to let users invest in a diversified portfolio of stocks and bonds with bitcoin.
First investment: 2015
wealthcoin.info
DeFi
Exited
North America
Limited Holdings
WENEW
WENEW
Los Angeles, CA, USA
Acquired by Yuga Labs in 2022. NFT marketplace focused on ownership of unique and historical moments.
First investment: 2021
wenewlabs.xyz
Metaverse, NFTs & Gaming
Acquired
North America
Limited Holdings
Wilder World
Wilder World
Distributed, Global
Mixed reality-primed, hyper-realistic metaverse co-founded by acclaimed 3D artist, Frank Wilder.
First investment: 2021
wilderworld.com
Metaverse, NFTs & Gaming
Active
Global
Limited Holdings
WorldCoin
WorldCoin
Berlin, Germany
Worldcoin is building a privacy-preserving proof-of-personhood protocol to help solve for verifiable digitial identity.
First investment: 2021
worldcoin.org
Identity, Compliance & Security
Active
Europe
Limited Holdings
Xapo
Xapo
Gibraltar, Spain
Bringing together traditional banking and Bitcoin on a next-generation digital platform.
First investment: 2014
xapo.com
Banks
Active
Europe
Limited Holdings
XLoad
XLoad
Singapore, Singapore
XLD is the metaverse financial hub of choice that provides financial services across emerging economies.
First investment: 2022
xld.finance
Payments
Active
Asia
Limited Holdings
Zabo
Zabo
Dallas, TX USA
Acquired by Coinbase in 2021. Zabo was a single API to connect any cryptocurrency account to your application.
First investment: 2020
zabo.com
Web3 Infrastructure
Acquired
North America
Limited Holdings
Zcash
Zcash
Denver, CO, USA
Zcash is a privacy-protecting, digital currency built on zk-SNARKs cryptography.
First investment: 2015
z.cash
Privacy
Active
North America
Limited Holdings
Zerion
Zerion
Distributed, Global
Zerion is a web3 smart, social wallet and investing tool that enables anyone with a mobile phone or computer to explore every corner of web3 from DeFi to NFTs - all in one place.
First investment: 2020
zerion.io
Wallets & Custody
Active
North America
Limited Holdings

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