Founded in 2015, FBG Capital is one of the largest and earliest blockchain investment firms, focused on early-stage companies that accelerate disruptive innovations in the crypto and digital asset ecosystem.
Their most common stage is seed (51% of deals). Average disclosed round size is $9.4M (across 40 rounds with reported amounts).
Portfolio
34
Fund Size
—
Top Stage
Seed
Last 12 Mo
0
Team
JL
Jingcheng Li
Managing Director
VZ
Victor Zou
Managing Director of Investments
XL
xixi L.
Investment Manager
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
41 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| HHashPower | Strategic | $4M | Jun 2025 |
 Sonarverse | Seed | $7M | Mar 2024 |
 Spaceport | Pre-Seed | $3.6M | Dec 2022 |
| MMetaVersus World | Seed | $2M | Dec 2022 |
 Cashmere | Seed | $3M | Aug 2022 |
 RockX | Unknown | $6M | Apr 2022 |
 Struct | Seed | $3.9M | Mar 2022 |
| Spaceport | Pre-Seed | $3.6M | Jan 2022 |
| RockX | Series A | $6M | Jan 2022 |
 Struct Finance | Seed | $3.9M | Jan 2022 |
 Moda DAO | Unknown | $5M | Oct 2021 |
 Sienna | Seed | $11.2M | May 2021 |
| MMoma Protocol | Unknown | $2.3M | May 2021 |
 Coinlist | Series A | $100M | Jan 2021 |
 Kollect | Seed | $2M | Jan 2021 |
 Mintverse | Seed | $1.5M | Jan 2021 |
| MMoma Protocol | Unknown | $2.3M | Jan 2021 |
 OIN Finance | Seed | $1M | Aug 2020 |
 Hedget | Seed | $500K | Aug 2020 |
 FTX | Seed | $8M | Aug 2019 |
 Aergo | Series B | $30M | Nov 2018 |
| UUltrain | Unknown | $20M | Jul 2018 |
| LLino | Seed | $20M | Feb 2018 |
| UUltrain | Seed | $20M | Jan 2018 |
| Aergo | Series B | $30M | Jan 2018 |
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Top Co-Investors
Infinity Ventures Crypto5 shared
SkyVision Capital3 shared
Protocol Labs3 shared
Bixin Ventures3 shared
Double Peak Group3 shared
Spark Capital3 shared
Signum Capital3 shared
Y Combinator3 shared
Polychain Capital3 shared
NGC Ventures2 shared
Accomplice2 shared
CMT Digital2 shared
HashKey Capital2 shared
Fenbushi Capital2 shared
Sfermion2 shared
Circle Ventures2 shared
FJ Labs2 shared
NextView Ventures2 shared
Valhalla Ventures2 shared
Infinity Ventures2 shared
Last updated: 20 October 2026