24 Jul, 2023

Redefining Venture Capital: Top 20 Crypto VC Funds

Redefining Venture Capital

Venture capital (VC) investment has become a significant source of funding for startups and early-stage businesses across various industries, including the crypto industry. Just like in other sectors, there are numerous VC firms dedicated to supporting and investing in crypto, blockchain, and NFT specific businesses.

However, crypto VC firms offer more than just financial backing. They often bring additional value through management expertise and technical guidance. The terms of investment can vary, with VC firms receiving compensation in the form of stocks, ownership stakes, or voting rights based on the specific investment agreement.

In the Web3 space, VC investments have the potential to yield outsized returns compared to traditional Web2 investments. Notably, well-known Web3 projects like Solana and Axie Infinity have received funding from renowned VCs such as a16z and Multicoin Capital. Being backed by these VCs serves as a validation of traction and trust, attracting new users and potential investors.

In this article, we will explore the leading crypto VC firms that are fueling the evolution of cryptocurrencies, blockchain, and NFTs, propelling innovative startups and paving the way for a decentralised future. Join us as we uncover these firms who are revolutionising the way funding is harnessed.

1. Gotbit Venture Capital


Gotbit Ventures’ investment arm places significant emphasis on supporting entrepreneurs in the crypto, blockchain, and NFT industries. They specifically target opportunities in DeFi protocols, blockchain-based games, and infrastructure solutions.

Their primary criteria for considering firms for funding is the presence of a token. They are also particularly interested in initiatives that leverage tokens, as well as those that combine tokens with traditional stocks.

Key top investments: Palmswap, Cheelee, Bizverse

Funds they offer: Gotbit Fund for Web3 startups 

2. Binance Labs


Binance Labs is the venture capital and investment division of one of the leading cryptocurrency exchange companies. It’s also dedicated to supporting entrepreneurs in the crypto, blockchain, and NFT sectors.

Binance established this division with the goal of empowering innovators worldwide who are working on blockchain and cryptocurrency initiatives. To achieve this, the company offers various initiatives, such as the Incubation Programme, which provides a range of valuable resources, financial support, and mentorship to aspiring businesses in these industries.

Key top investments: Aptos, Star Sharks, Starrynift, and DoraHacks

Funds they offer: Blockchain and crypto projects

Assets under management:  $7.5 Billion

3. Pantera


Pantera Capital, an investment firm based in Menlo Park, California, is actively seeking opportunities to invest in crypto, blockchain, and NFT businesses at various stages of development.

With a wide-ranging investment strategy, Pantera Capital focuses on diverse areas within the blockchain ecosystem, including infrastructure, protocols, applications, and security.

They offer five distinct types of funds to cater to different investment needs. Notably, Pantera Capital has provided backing to prominent businesses and initiatives such as Coinbase, Bitstamp, Circle, Bakkt, and Zcash.

As the first U.S. Bitcoin investment firm, Pantera Capital specialises in ventures, tokens, and projects related to blockchain tech, digital currency, and crypto assets.

With a proven track record, Pantera Capital has successfully built a well-diversified portfolio and prides itself on being a value-adding partner to the companies they invest in.

Key top investments: Coinbase, Bitstamp, Circle, Bakkt, Zcash, Circle, Ripple, Gemini, Bitso, Starkware, BloXroute Labs 

Funds they offer:

  • Pantera Venture
  • Pantera Bitcoin Fund
  • Pantera Early-Stage Token Fund
  • Pantera Liquid Token Fund
  • Pantera Fund V

Assets under management: $3.5 Billion

4. Paradigm


Paradigm, a venture financing business, is highly focused on supporting businesses within the Web3/crypto ecosystem. With a firsthand approach and a long-term perspective, Paradigm aims to ensure the success of the firms in their portfolio.

Based in San Francisco, Paradigm is a prominent investment firm in the crypto space, co-founded by Fred Ehrsam, the co-founder of Coinbase, and Matt Huang, a partner at Sequoia Capital. With its extensive experience and expertise in cryptocurrency investments, Paradigm has established itself as one of the largest crypto investment funds worldwide.

Their investment scope covers a wide range of crypto projects and businesses, spanning from early-stage startups to mature companies. 

Key top investments: Conduit, Ulvetanna, PapayaHub, Nxyz, Exponential DeFi, Blowfish

Funds they offer: Paradigm One Crypto VC Fund

Assets under management:  Over $8.7 Billion

5. Andreessen Horowitz (a16z crypto)



Andreessen Horowitz is actively involved in supporting a wide range of digital startups within the crypto, blockchain, and NFT sectors, from early-stage ventures to late-stage companies.

Notable investments in their portfolio include leading cryptocurrency exchange Coinbase, the Solana network, and Yuga Labs, the creator of the most popular and recognisable NFT collection known as Bored Ape Yacht Club.

A16Z Crypto, the venture fund of Andreessen Horowitz, is headquartered in Menlo Park, California. With a forward-thinking approach, their fund aims to bridge the gap between traditional venture capital and the modern, advanced crypto world.

The firm has a rich history of investing in the cryptocurrency space for over five years. Notably, they adopt a long-term perspective by structuring their crypto investments to be held for a minimum of ten years. 

Key top investments: Yuga Labs, Solana, OpenSea

Funds they offer: Venture funds for crypto companies and protocols

Assets under management:  Over $35 Billion

6. Coinbase Ventures


Coinbase Ventures is the investment division of Coinbase, one of the leading cryptocurrency exchanges for digital assets. With a broad focus on various categories within the web3 environment, Coinbase Ventures has collaborated with numerous cryptocurrency initiatives and companies.

Founded by Brian Armstrong, Coinbase Ventures’ primary objective is to invest in early-stage crypto and blockchain startups.

Since its inception, Coinbase Ventures has accumulated an impressive $1 billion in assets under their management. Their primary mission is to continue investing in blockchain-based companies, facilitating the evolution, expansion, and maturation of the industry.

Key top investments: Ox, Alcala, Alliance DAO, Brave

Funds they offer: Venture Fund I

7. Jump Crypto


Jump Crypto is a subsidiary of the larger entity Jump Labs. Jump Crypto’s primary objective is to aid initiatives that show promise but may lack the necessary financial resources to thrive independently.

They specifically focus on making seed-stage investments in blockchain-based startups, recognizing the potential for early-stage ventures to make a significant impact in the industry.

Jump Crypto has established partnerships with some of the most prominent cryptocurrency ventures in the market. Notable collaborations include Wormhole, Fantom, and Solana, among others.

Key top investments: BitPanda, Polygon, Coinflow Labs, Kolibrio,

Funds they offer: Early stage venture – invest in seed-stage cryptocurrency and blockchain startups.

Assets under management: $15 Billion

8. Animoca Brands


Animoca Brands, originally established as a video game software developer in Hong Kong, has evolved over time to become a major player in funding cutting-edge cryptocurrency projects. As one of the largest venture capital companies in the industry, Animoca Brands focuses primarily on game development.

They have gained recognition for creating renowned crypto games such as The Sandbox, Phantom Galaxies, and Revv Racing, among others.

Founded by Yat Siu in 2014, Animoca Brands operates as both a game software company and a venture capital firm. While originally listed on the Australian Securities Exchange from January 23, 2015, to March 9, 2020, the company has since expanded its reach and influence within the crypto, blockchain, and NFT sectors.

Key top investments: Atari, Axie Infinity, Chain Guardians, and My DeFi Pet

Funds they offer: Animoca Brands

Assets under management: $3.4 Billion

9. Blockchain Capital


Blockchain Capital primarily targets tech-related goods in industries such as data, tokenization, gaming, financial services, supply chain, and crypto mining. Their portfolio includes several highly popular cryptocurrency platforms, demonstrating their expertise and success in the industry.

As a pioneer and leading venture capital firm based in San Francisco, California, Blockchain Capital conducts rigorous research and the continuous development of investment frameworks.

Since its establishment, Blockchain Capital has made over 90 investments in companies and protocols within the blockchain industry. Their impressive track record is complemented by their substantial assets under management, exceeding $300 million.

Key top investments: Aave, Bitfury, Ripple and Uniswap

Funds they offer:

  • Blockchain Capital
  • Crypto Currency Partners, LP
  • Crypto Currency Partners II, LP
  • Blockchain Capital III Digital Liquid Venture Fund, LP
  • Blockchain Capital IV, LP
  • Blockchain Capital V

Assets under management:  $2 Billion

10. Draper Associates


Draper Associates, a seed-stage venture fund, is based in Silicon Valley, California and has had a long-standing presence in the investment industry since the mid-1980s. Draper Associates has also embraced the shift towards blockchain-based businesses in recent years. 

With a keen understanding of the potential of this technology, they have allocated a sizable portion of their portfolio to crypto and blockchain ventures.

Among their notable investments in the crypto and blockchain space, Draper Associates has backed prominent companies such as Coinbase, Ledger, Bitwage, and CryptoMove.

Key top investments: Coinbase, Ledger, Bitwage, and CryptoMove

Funds they offer: Draper Associates V and VI

Assets under management:  $408 Million

11. Polychain Capital



Polychain Capital, a San Francisco-based investment firm, specialises in cryptocurrency and blockchain-based investments.

Founded by Olaf Carson-Wee, who began his career as the head of risk and product manager at Coinbase, the firm boasts a proven track record of success in the cryptocurrency industry.

With their deep understanding and expertise in the crypto space, Polychain Capital has emerged as one of the largest investment firms in the world focused on cryptocurrencies, with over $6.6 Billion assets under management. Their approach to managing digital assets has garnered them a strong reputation within the industry. 

Key top investments: Evertas, Polyhedra Network, Webb Protocol, Cubist

Funds they offer: 

  • Polychain Ventures
  • Polychain Ventures LP
  • Polkadot Ecosystem Fund

Assets under management:  $6.6 Billion

12. Gumi Cryptos


Gumi Cryptos, a San Francisco-based venture capital fund, focuses on identifying and nurturing promising early-stage pre-seed companies within the crypto asset and blockchain space. Their investment approach encompasses a broad range of opportunities in the industry. 

One notable advantage of partnering with Gumi Cryptos is its unique access to the Japanese cryptocurrency market. This provides a valuable opportunity for the businesses they invest in to tap into the Japanese market and benefit from its potential. By leveraging their expertise and network, Gumi Cryptos offers these companies strategic guidance and support to help them navigate and thrive in the crypto and blockchain ecosystem.

Key top investments: Openfort, Franklin, Ethos, UnUniFi, Finery Markets

Funds they offer:

  • Gumi Cryptos Anonymous Union

13. Union Square Ventures


Union Square Ventures, a New York-based thesis-driven venture capital firm, has a diversified portfolio of over 100 companies, including renowned names such as Stripe, Quizlet, and Stack Overflow. Their track record speaks for itself. However, their accomplishments in the digital currency space are even more remarkable, with investments in prominent companies like Coinbase, Protocol, and Numerai.

Their approach focuses on identifying innovative technologies and business models that have the potential to create transformative impacts within their respective industries.

Key top investments: Stripe, Quizlet, Stack Overflow, Coinbase, Protocol, and Numerai

Funds they offer:

  • Union Square Ventures Fourth Early-Stage Fund
  • USV 2016 LP
  • USV Opportunity Investors 2019, LP
  • USV 2019, LP
  • USV Opportunity 2019, LP
  • USV Climate Fund I
  • USV 2021 Fund
  • Union Square Ventures VIII
  • Union Square ventures Opportunity Fund IV
  • USV Climate Fund II

Assets under management:  $1.5 Billion

14. Galaxy Digital


Galaxy Digital, founded by former Fortress Investments hedge fund manager Michael Novogratz, is a leading full-service digital assets management fund.

The firm’s experience in portfolio management and deep expertise in blockchain technology offers a unique opportunity for crypto, blockchain, and NFT businesses seeking venture capital.

Galaxy Digital aims to bridge the worlds of cryptocurrency and institutional investing, recognizing the growing importance and potential of digital assets in traditional financial markets.

The firm’s expertise in portfolio management, combined with its deep understanding of blockchain technology, positions them as an ideal partner to navigate the evolving landscape of digital assets.

Key top investments: OP3N, Superplastic, Evmos

Funds they offer:

  • Galaxy Bitcoin Funds
  • Galaxy Ethereum Funds
  • Galaxy Crypto Index Fund
  • Galaxy Liquid Alpha Fund
  • Galaxy Vision Hill Multi-Strategy Fund
  • Galaxy Vision Hill Venture Fund

Assets under management:  $2.5 Billion

15. 1confirmation


1confirmation, a Palo Alto-based crypto venture fund, is committed to providing support for crypto, blockchain, and NFT projects that drive the decentralisation of the web and society.

Notably, 1confirmation has gained the backing of industry-leading individuals such as Mark Cuban, Peter Thiel, and Marc Andreessen. This support from prominent figures within the tech and investment spheres speaks to the credibility and reputation of 1confirmation as a trusted partner in the crypto and blockchain space.

Key top investments: Metahood, Rated, Koop

Funds they offer:

  • 1confirmation
  • Blockchain Coinvestors Fund III
  • Confirmation Fund
  • 1confirmation Fund II

Assets under management:  $1 Billion

16. Arrington XRP Capital


Arrington XRP Capital, a digital asset management firm founded by Michael Arrington, presents an attractive opportunity for crypto, blockchain, and NFT businesses seeking venture capital. While Arrington holds a special affinity for Ripple (XRP), their investment scope extends beyond it to encompass various blockchain-based companies.

This VC firm has made investments in prominent blockchain ventures such as Mainframe, Nexo, and Tera. Their investment strategy also includes supporting other crypto-based funds like Dekrypt Capital and Dragonfly Capital. This diversified approach allows them to actively participate in the growth and development of the broader blockchain ecosystem.

Key top investments: Mainframe, Nexo, and Tera

Funds they offer:

  • Ripple XRP
  • Ripple XRP II
  • The Arrington Algo Growth Fund (AAGF)

17. FBG Capital


FBG Capital is a digital asset management firm based in Beijing. With its headquarters in the heart of the blockchain industry, FBG Capital is strategically positioned to support and nurture projects within the space.

The firm primarily focuses on blockchain-based capital markets. In addition to their investment activities, FBG Capital also takes an active role in incubating revolutionary blockchain projects and companies. They provide crucial support to early-stage blockchain startups, offering guidance and assistance to help them evolve into fully developed and successful enterprises.

Their specialisation in blockchain-based capital markets, coupled with their incubation support, makes them an ideal partner for businesses at different stages of growth. FBG Capital’s presence in Beijing, a hub of blockchain innovation, adds further value by offering access to local networks and expertise in the region.

Key top investments: PapayaHub, Ren, Zilliqa, Cred

Funds they offer: Digital asset hedge fund

Assets under management:  $312 Million

18. Sequoia Capital



Sequoia Capital is a renowned American venture capital fund founded by Donald T. Valentine. With a rich and extensive history of global investments, Sequoia Capital operates in key regions, including the US, Southeast Asia, India, China, and Israel.

While Sequoia Capital has a diverse portfolio spanning various sectors, they have recently entered the realm of blockchain-based investments. Their notable investments in this space include Robinhood, Polychain Capital, and Band Protocol, showcasing their commitment to supporting innovative blockchain ventures.

Key top investments: Polychain Capital, and Band Protocol

Funds they offer (latest):

  • Sequoia Capital Seed Fund V
  • US Growth Fund
  • Sequoia Capital Venture Fund
  • Sequoia Crypto Fund
  • Sequoia Capital US/E Seed Fund IV
  • Sequoia Capital US Scout Seed Principals Fund III
  • Sequoia Capital China Venture Fund VII
  • Sequoia Capital China Growth Fund V
  • Sequoia Capital China Venture VII Principals Fund
  • Sequoia Capital China Growth Partners Fund V  

Assets under management: $85 Billion

    19. Protocol Ventures


    Protocol Ventures, a prominent venture fund in the crypto asset space, has cultivated robust relationships with top hedge fund managers, positioning itself as a trusted and knowledgeable partner in the industry.

    Their portfolio consists exclusively of funds that invest in crypto assets and blockchain-based projects. By focusing on this niche, Protocol Ventures brings specialised expertise and insights to the table, enabling them to identify and nurture promising projects.

    It’s important to note that Protocol Ventures only allows Qualified Purchasers (individuals or families with a minimum of $5 million in assets) to invest. This approach ensures a sophisticated investor base, which in turn enhances the level of support and resources available to the businesses they back.

    Key top investments: Cherry, LayerZero Labs, Panther Protocol, Pandora Finance, Cryptocurrencies.Ai

    Funds they offer: Fund of Funds (Venture Capital)

    20. Digital Currency Group



    Venture capital firms offer compelling opportunities for crypto, blockchain, and NFT businesses. These firms demonstrate a deep understanding of the industry, a track record of successful investments, and a commitment to driving innovation and growth in the crypto space. From supporting early-stage startups to established companies, these venture capital firms provide valuable resources, expertise, and networks to help businesses thrive in the evolving world of digital assets and blockchain technology.

    In addition to securing venture capital funding, your business must also focus on effective digital marketing strategies to attract attention and stand out in a competitive landscape. Blokpoint, a leading digital marketing agency, specialises in providing essential marketing services such as SEO and Google Ads tailored specifically for your industry.

    By partnering with us, you can enhance your project’s visibility and credibility, which in turn can attract the attention of venture capital firms. Well-executed digital marketing campaigns not only create brand awareness but also serve as proof of traction and potential for growth.

    You can call or send us an email to discuss how your digital marketing services can benefit your digital project.


    How to Leverage Google’s Algorithm to Secure Long-term Success

    ⬇ Download e-book
    Let’s scale your blockchain project.

    Talk to us about how we can help.