Electric Capital is an engineering-led, early-stage venture firm based in Palo Alto, California. Founded in 2018, the firm invests in builders of frontier technologies including AI, cryptography, distributed systems, and Web3 protocols, from pre-seed through Series A.
38% of their portfolio is in Crypto & Web3. Deal activity decreased year-over-year (1 deal in the last 12 months vs 7 prior). Average disclosed round size is $33.5M (across 84 rounds with reported amounts).
Portfolio
69
Fund Size
$1B
Top Stage
Seed
Last 12 Mo
1
Team
Avichal Garg
General Partner, Co-founder
Maria Shen
General Partner
Ren CF
General Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
89 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Squads | Unknown | $18M | Apr 2026 |
 V12 | Seed | $10M | Jan 2026 |
 Aven | Series E | — | Sep 2025 |
 Etherealize | Series B | $40M | Sep 2025 |
 Hyperbeat | Seed | $5.2M | Aug 2025 |
 Walrus | Growth | $140M | Mar 2025 |
| AAxelar Foundation | Unknown | $30M | Mar 2025 |
 Unto Labs | Seed | $14.4M | Jan 2025 |
 Bitwise | Unknown | $70M | Jan 2025 |
 Infinifi | Unknown | $3M | Jan 2025 |
| BBitwise Asset Management, Inc. | Unknown | $70M | Jan 2025 |
| Etherealize | Series A | $40M | Jan 2025 |
 Sundial | Series A | $16M | Jan 2025 |
 EigenLayer | Unknown | $70M | Jan 2025 |
 Bluenote | Series A | $10M | Dec 2024 |
 HealthEx | Seed | $14M | Oct 2024 |
 Layer3 | Series A | $15M | Jun 2024 |
 INIT Capital | Seed | $3.1M | Feb 2024 |
 Fordefi | Unknown | $10M | Feb 2024 |
| Fordefi | Unknown | $10M | Jan 2024 |
| WWasabi Protocol | Seed | $3M | Jan 2024 |
| Squads | Series A | $10M | Jan 2024 |
| INIT Capital | Seed | $3.1M | Jan 2024 |
 Llama | Seed | $6M | Nov 2023 |
 Membrane Labs | Series A | $20M | Oct 2023 |
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Top Co-Investors
Coinbase Ventures14 shared
Paradigm11 shared
Framework Ventures10 shared
Polychain Capital10 shared
Jump Crypto7 shared
Dragonfly7 shared
Andreessen Horowitz6 shared
Greylock Partners5 shared
Sequoia Capital5 shared
General Catalyst5 shared
Solana Ventures5 shared
Y Combinator5 shared
ParaFi Capital5 shared
Electric5 shared
Protocol Labs5 shared
CMS Holdings5 shared
Lightspeed Venture Partners4 shared
Pantera Capital4 shared
Khosla Ventures4 shared
Wintermute Ventures4 shared
Last updated: 20 October 2026