We invest at seed stage in the foundational infrastructure companies shaping the decentralized internet.
From payments infrastructure to decentralized exchanges — we back the builders enabling the open financial system.
MoonPay is global crypto payments infrastructure enabling seamless fiat-to-crypto onboarding for consumers, institutions, and developers across 100+ countries. Its SDK powers crypto checkout for wallets, exchanges, and NFT platforms worldwide.
Uniswap is the leading decentralized exchange protocol on Ethereum, pioneering automated market making (AMM). It processes hundreds of billions in trading volume annually and has become the canonical liquidity layer for the DeFi ecosystem.
Optimism is a leading Ethereum Layer 2 network built on Optimistic Rollup technology. It delivers high-throughput, low-cost transactions while inheriting Ethereum's security, enabling the next generation of scalable on-chain applications.
dYdX is a leading decentralized derivatives exchange offering perpetual contracts, margin trading, and spot trading. It has processed over $1 trillion in cumulative trading volume and is a pioneer in on-chain institutional-grade derivatives infrastructure.
Cosmos is the "internet of blockchains" — a decentralized network of independent, interoperable blockchains. The Cosmos SDK and IBC (Inter-Blockchain Communication) protocol have become foundational infrastructure powering dozens of sovereign application-specific blockchains.
Our portfolio reflects a specific set of characteristics we believe predict long-term protocol success.
Novel cryptographic approaches, novel architectural decisions, or significant performance improvements over existing alternatives.
Founders with rare combinations of deep technical expertise, open-source credibility, and the drive to build lasting protocol communities.
Infrastructure that enables an entire ecosystem, not a single application. We want to back picks-and-shovels in trillion-dollar opportunity markets.
We are actively evaluating seed-stage blockchain infrastructure companies. Reach out to start a conversation.
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