Fenbushi Capital is Asia's first and most active blockchain-focused venture capital firm, founded in Shanghai in 2015. The firm has invested in over 300 blockchain and Web3 projects across DeFi, CeFi, NFT, and infrastructure sectors, managing approximately $1.6 billion in assets under management.
42% of their portfolio is in Crypto & Web3. Average disclosed round size is $19.0M (across 86 rounds with reported amounts).
Portfolio
80
Fund Size
—
Top Stage
Series A
Last 12 Mo
0
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
89 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| MMultiverse Labs | Series D | $15M | Jan 2026 |
 Igloo | Series A | $11M | Jul 2024 |
 Zkex | Seed | $2.5M | Jul 2024 |
 Eywa | Seed | $7M | May 2024 |
 CARV | Series A | $10M | Apr 2024 |
 Azuro | Unknown | $11M | Apr 2024 |
 Lumino Labs | Pre-Seed | $2.8M | Mar 2024 |
 GoPlus | Unknown | $10M | Mar 2024 |
 Carv | Series A | $10M | Jan 2024 |
 Anichess | Seed | $1.8M | Jan 2024 |
 Sablier | Seed | $4.5M | Jan 2024 |
 Lagrange | Seed | $13.2M | Jan 2024 |
 Morpho | Unknown | $18M | Jan 2024 |
| MMorpho Labs | Unknown | $50M | Jan 2024 |
 Risc Zero | Series A | $40M | Jul 2023 |
 Connext | Series A | $7.5M | Jun 2023 |
 Helika | Seed | $4M | Mar 2023 |
 Alkimiya | Unknown | $7.2M | Jan 2023 |
 Blocknative | Series A | $15M | Dec 2022 |
 ChainSafe | Series A | $18.8M | Oct 2022 |
 BlockSec | Seed | $8M | Jul 2022 |
 Petaverse | Unknown | $7M | Mar 2022 |
| SSlope Finance | Series A | $8M | Feb 2022 |
| AAlgoTrader | Series B | $4.5M | Feb 2022 |
 The Graph | Unknown | $50M | Jan 2022 |
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Top Co-Investors
IOSG Ventures14 shared
HashKey Capital14 shared
NGC Ventures11 shared
Coinbase Ventures10 shared
CMT Digital9 shared
Mirana Ventures8 shared
Crypto.com8 shared
1kx7 shared
OKX Ventures7 shared
Binance7 shared
Animoca Brands7 shared
ConsenSys6 shared
Sfermion6 shared
IOSG6 shared
Dragonfly6 shared
Signum Capital6 shared
Hypersphere Capital6 shared
Gemini Frontier Fund5 shared
Tribe Capital5 shared
Protocol Labs5 shared
Last updated: 7 October 2026