Divergence Ventures is a San Francisco-based crypto operator fund founded in 2020 that focuses on early-stage investments in blockchain, cryptocurrency, DeFi, and Web3 ecosystems. The firm provides capital, strategic guidance, and operational support to early-stage crypto projects.
35% of their portfolio is in Crypto & Web3. Their most common stage is seed (65% of deals). Average disclosed round size is $20.7M (across 16 rounds with reported amounts).
Portfolio
15
Fund Size
—
Top Stage
Seed
Last 12 Mo
0
Team
GL
George Lambeth
Founding Partner
CL
Calvin Liu
Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
17 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Aperture Finance | Seed | $5.3M | Feb 2022 |
 Celestia Labs | Seed | $100M | Jan 2022 |
| AAngle Protocol | Unknown | $5M | Sep 2021 |
 SolRazr | Seed | $1.5M | Sep 2021 |
 Impossible Finance | Seed | $7M | Jun 2021 |
| DDexGuru | Seed | $1M | Apr 2021 |
| PPureStake | Seed | $6M | Jan 2021 |
 Nine Chronicles | Growth | $2.6M | Jan 2021 |
 1INCH | Series B | $175M | Jan 2021 |
 Swivel Finance | Unknown | $1.1M | Dec 2020 |
| Swivel Finance | Seed | $3.5M | Jan 2020 |
| PPureStake | Seed | — | Jan 2020 |
| 11inch Network | Series A | $12M | Jan 2020 |
 Axelar | Seed | $3.8M | Jan 2020 |
 Mero | Series A | $3.5M | — |
 Async Art | Seed | $2M | — |
 Async | Seed | $2M | — |
Top Co-Investors
Lemniscap5 shared
Binance5 shared
CMS Holdings4 shared
ParaFi Capital4 shared
The LAO3 shared
Placeholder3 shared
Collab+Currency3 shared
DeFiance Capital2 shared
Electric Capital2 shared
Multicoin Capital2 shared
IOSG Ventures2 shared
The Spartan Group2 shared
Maven 112 shared
Galaxy Interactive2 shared
Blue Wire Capital2 shared
Inflection2 shared
Signum Capital2 shared
Coinbase Ventures2 shared
Fenbushi Capital2 shared
KR12 shared
Last updated: 20 October 2026