Karatage is a London-based proprietary hedge fund specializing in digital assets and emerging technology. The firm invests across digital assets, crypto-native investment funds, and companies building infrastructure, products, or services for the blockchain economy.
Average disclosed round size is $67.6M (across 21 rounds with reported amounts).
Portfolio
24
Fund Size
—
Top Stage
Unknown
Last 12 Mo
0
Team
SM
Stephen Mackintosh
Co-Founder and General Partner
SO
Shane O'Callaghan
Senior Partner
GB
George Bardwell
Investing
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
24 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Talos | Series B | $45M | Jan 2026 |
 Akedo Games | Seed | $5M | Jan 2026 |
| BBased One | Unknown | $11.5M | Jan 2026 |
 Walrus | Growth | $140M | Mar 2025 |
 Enhanced | Series B | — | Feb 2025 |
 Soter Insure | Series A | — | Feb 2025 |
 Sperm Racing | Seed | $10M | Jan 2025 |
| MMill City Ventures III | Growth | $450M | Jan 2025 |
| DDare Market | Unknown | $2M | Jan 2025 |
 Fraction AI | Pre-Seed | $6M | Dec 2024 |
| SSTON fi | Unknown | — | May 2024 |
 Addressable | Seed | $7.5M | Feb 2023 |
 TipLink | Unknown | $6M | Jan 2023 |
 Walrus | Growth | $140M | — |
| KKAIO | Seed | $11M | — |
 Primus Labs | Unknown | $6.5M | — |
 DoubleUp | Seed | $4M | — |
 GOAT Gaming | Unknown | $4M | — |
| TThe Open Network Foundation | Unknown | $400M | — |
| FFung | Pre-Seed | $2.7M | — |
| FFung Payments | Pre-Seed | $2.7M | — |
| NNof1 | Unknown | $15M | — |
 Walrus | Growth | $140M | — |
 BasedApp | Series A | $11.5M | — |
Top Co-Investors
a16z crypto4 shared
Lvna Capital3 shared
Franklin Templeton3 shared
Electric Capital3 shared
Standard Crypto3 shared
Protagonist3 shared
Raptor Group3 shared
Wintermute Ventures3 shared
Kingsway Capital3 shared
CoinFund2 shared
Brevan Howard2 shared
Andreessen Horowitz2 shared
The Spartan Group2 shared
Big Brain Holdings2 shared
Sequoia Capital2 shared
Amber Group2 shared
Kindred Ventures2 shared
Pantera Capital2 shared
Coinbase Ventures2 shared
Apeiron Investment Group1 shared
Last updated: 7 October 2026