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Pitch us

Investment thesis

Open networks will rebuild finance. We back the teams doing it.

Money is becoming software. We invest where that shift creates new markets — and where strong teams can build durable businesses on open rails.

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01

Infrastructure

Layer 1s, Layer 2s and the rails everything runs on.

Blockspace, scaling, interoperability and data availability — the base layers that decide what the rest of the stack can do.

What we look for

  • Clear performance or cost advantage over existing networks
  • A developer ecosystem forming around the protocol
  • Credible path to decentralisation
02

DeFi

Markets, lending and liquidity without intermediaries.

Exchanges, credit markets, derivatives and liquidity infrastructure that make on-chain finance deeper and safer.

What we look for

  • Sustainable revenue beyond token incentives
  • Risk management designed in from day one
  • Composability with the wider ecosystem
03

Stablecoins & payments

Digital dollars moving at internet speed.

Issuance, settlement, on- and off-ramps and merchant tools that bring stablecoins into everyday commerce.

What we look for

  • Real payment volume, not only trading flows
  • A compliance posture built for regulated partners
  • Distribution that scales across regions
04

Tokenization

Real-world assets, on-chain.

Treasuries, credit, funds and other real-world assets represented on-chain, with the legal and operational plumbing to match.

What we look for

  • Legal structures that hold up under scrutiny
  • Institutional distribution partners
  • Transparent, verifiable reserves and reporting
05

Security & custody

Keeping keys, contracts and users safe.

Wallet infrastructure, key management, monitoring and auditing tools that protect users and institutions.

What we look for

  • Deep technical teams with security pedigree
  • Products that reduce risk for the whole ecosystem
  • Trust earned with demanding customers
06

Consumer crypto

Wallets and apps people actually use.

Wallets, social and consumer applications that make self-custody and on-chain products feel effortless.

What we look for

  • Retention that holds without incentives
  • Design that hides complexity, not control
  • A distribution edge competitors cannot copy

Signals we weigh in every deal

  1. 01

    Team

    Founders with deep technical or market insight and the resilience to build through cycles.

  2. 02

    Traction

    Usage, revenue or developer adoption that shows real demand — not only speculation.

  3. 03

    Token design

    If there is a token, it should have a clear purpose and incentives that hold up over time.

  4. 04

    Security & compliance

    Audits, threat models and a regulatory strategy that match the size of the opportunity.

Building at Series A?

Tell us what you are building. Every submission is read by the investment team.

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