Bain Capital Crypto is a purpose-built investment platform backing renegades and pioneers building the next generation of open internet infrastructure. It makes concentrated investments from early-stage protocols through growth, focusing on crypto, web3, and decentralized infrastructure.
39% of their portfolio is in Crypto & Web3. Deal activity increased 50% year-over-year (3 deals in the last 12 months). Average disclosed round size is $40.9M (across 28 rounds with reported amounts).
Portfolio
22
Fund Size
$560M
Top Stage
Seed
Last 12 Mo
3
Team
KG
Kobi Gurkan
Partner and Head of Research
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
31 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Meanwhile | Unknown | $37.5M | Oct 2026 |
 Variational | Seed | $10.3M | May 2026 |
 Superstate | Series B | $82.5M | Jan 2026 |
| Variational | Series A | $50M | Jan 2026 |
| Meanwhile | Series B | — | Oct 2025 |
 M^0 | Series B | $40M | Aug 2025 |
 Bluesky | Series B | $100M | Apr 2025 |
| Bluesky | Series B | $100M | Apr 2025 |
 Curio | Unknown | $5.7M | Jan 2024 |
 Risc Zero | Series A | $40M | Jul 2023 |
 Worldcoin | Series C | $115M | May 2023 |
 Orb Labs | Seed | $4.5M | Feb 2023 |
 Ulvetanna | Seed | $15M | Jan 2023 |
| Worldcoin | Series C | $115M | Jan 2023 |
 Risc0 | Seed | $12M | Aug 2022 |
| Worldcoin | Series D | — | Mar 2022 |
 Curio | Unknown | $5.7M | Jan 2022 |
| Curio | Unknown | $2.9M | Jan 2022 |
| VVenturePunk | Pre-Seed | $1.5M | Jan 2022 |
 Celestia Labs | Seed | $100M | Jan 2022 |
 Primitive | Series A | $9M | — |
 Irreducible | Series A | $24M | — |
 Notebook Labs | Seed | $3.3M | — |
 Turnkey | Unknown | $12.5M | — |
| Meanwhile | Series A | $82M | — |
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Top Co-Investors
Galaxy Ventures5 shared
Pantera Capital4 shared
Coinbase Ventures4 shared
Apollo Global Management, Inc.3 shared
Blockchain Capital3 shared
Distributed Ventures3 shared
SevenX Ventures3 shared
Stonks3 shared
Lightspeed Faction3 shared
Wintermute Ventures3 shared
Polychain Capital3 shared
Jump Crypto3 shared
Andreessen Horowitz2 shared
Bain Capital Ventures2 shared
Human Ventures2 shared
Stillmark2 shared
Delphi Digital2 shared
Maven 112 shared
Last updated: 20 October 2026