Most often, funds buy part of the tokens of a young startup in the Seed, Strategic and Private rounds. This segment gets up to 20% of the coins at the lowest price but also with the longest lockup period.
With funds that have invested in the project, you can indirectly determine its quality: a large team is engaged in the study of the project’s potential profitability, which determines whether the project is worth investment.
Previously, the largest investment fund that supported blockchain and Web3 startups was Alameda Research. The FTX crash triggered the bankruptcy of all its subsidiaries, including Alameda. We have collected the seven most prominent companies that are still afloat and are the flagships of investment activity.
The first American investment fund dedicated exclusively to blockchain technology since 2013. The portfolio comprises 135 projects, including XRP, Cosmos, Near Protocol, Maker DAO, and 1INCH. A third of the fund's investments went to the DEFI ecosystem. Another third went to all kinds of blockchain services and infrastructures. The rest is distributed between GameFi, crypto exchange tokens, NFTs, and stablecoins.
The total capitalization of projects’ coins owned by Pantera Capital is $32 billion, and their daily trading volume exceeds $607 million.
Pantera Capital website, portfolio section
According to the fund’s founders, Multicoin is looking for projects with a long-term perspective without the desire to sell assets quickly. Ninety organizations received investments from this company. The largest of them are Solana, Internet Computer, Aptos, and Coin98. Priority is given to the DEFI sector, followed by new technological blockchains, social networks, and NFTs.
According to the Cryptorank service, Multicoin occupies a leading position in terms of investment volume, with a dominance rate of 6.62%. The portfolio capitalization is $59 billion, and the total trading volume is $404 million. Only Alameda Research had a superior indicator, which, as we understand, has already dropped from the list.
Multicoin Capital Portfolio
Andreessen Horowitz (a16z)
Venture fund that invests in crypto and Web3 startups. The total volume of investments is above $7 billion, while the largest section of the fund, $4.5 billion, was created recently. Blockchain infrastructure and Internet services occupy key positions in terms of investments. Slightly less attention is paid to DeFi, GameFi, and NFT.
The number of projects in the portfolio is 113, with a total capitalization of $44 billion. It is noteworthy that only 30% of the projects in which Andreessen Horowitz invested remain profitable in the bear market.
Andreessen Horowitz Portfolio
Arrington XRP Capital
A dedicated venture branch associated with the Ripple blockchain platform. It focuses mainly on DEFI services, with 40% of the investment. The fund is also interested in GameFi blockchain infrastructure projects and stablecoins. The portfolio comprises 92 startups, including Algorand, Fantom, ImmutableX, Moonbeam, and KAVA.
The portfolio capitalization reaches $30 billion, and the daily trading volume is $450 million. The market share of cryptocurrency funds is 2.97%.
Arrington XRP Capital Portfolio
An investment fund that is formed and managed by the largest cryptocurrency exchange in the US, Coinbase Exchange. Among the projects are Polygon, Flow, Aptos, Mina Protocol, and Celo. Coinbase Ventures exceeds other companies in terms of the number of incubated projects, having more than 250 investment rounds behind it.
The trading volume of coins invested by Coinbase is $450 million, with a market cap of $30 billion.
Coinbase Ventures Portfolio
Large investment fund headquartered in San Francisco. Priority is given to DEFI projects. The fund is also interested in Web3 services and general cryptographic infrastructure. It made a total of 112 investments in different projects, including Uniswap, Avalanche, Tezos, Zilliqa, and Compound. Recent major investments include Fleek ($25M) and Tharsis Labs ($55M).
Portfolio capitalization is $23 billion, and the daily trading volume is $351 million.
Polychain Capital’s Investment Activity Details (Cryptorank.io)
An American venture capital firm focused on cutting-edge digital technology and blockchain. Sequoia has supported the development of many large startups – Filecoin, STEPN, Hooked Protocol, Band Protocol, and pSTAKE. In total, the company has made 55 investments. It mainly focuses on blockchain services and infrastructure, and the list of projects comprises many centralized exchanges, applications, and NFTs.
The fund is ranked third by the dominance of cryptocurrency companies with 5.5% market share. The market capitalization of the portfolio is $51 billion.
Sequoia Capital Investment Activity Details (Cryptorank.io)