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    Morningstar is a seed to Series B stage investment firm. It has made 34 investments. Average disclosed round size is $7.9M (across 31 rounds with reported amounts).

    Find people at Morningstar on Goldilocks AI

    Portfolio

    34

    Fund Size

    —

    Top Stage

    Unknown

    Last 12 Mo

    0

    Team

    Bryan Armour, CFA

    Bryan Armour, CFA

    Bryan Armour is director of ETF and passive strategies research for North America for Morningstar. Email Bryan at bryan.armour@morningstar.com.

    Joshua Aguilar

    Joshua Aguilar

    Joshua Aguilar is a director for Morningstar.

    Karen Andersen, CFA

    Karen Andersen, CFA

    Karen Andersen, CFA, is a director for Morningstar.

    SA

    Sabeeh Ashhar

    Sabeeh Ashhar is director of quantitative research for Morningstar.

    TA

    Thomas Aviles

    Thomas Aviles is the Vice President of Business Development, Financial Planning, for Morningstar, Inc.

    Eden Alemayehu

    Eden Alemayehu

    Eden Alemayehu is an associate equity analyst for Morningstar.

    AB

    Adam Baker

    Adam Baker is an equity analyst for Morningstar.

    Dan Baker

    Dan Baker

    Dan Baker is a senior equity analyst for Morningstar Asia Limited (“Morningstar”), a wholly owned subsidiary of Morningstar, Inc.

    Hunter Beaudoin

    Hunter Beaudoin

    Hunter Beaudoin is a manager research analyst for Morningstar Asia Limited (“Morningstar”), a wholly owned subsidiary of Morningstar, Inc.

    Jack Armanini

    Jack Armanini

    Jack Armanini is an analyst, Structured Finance Analytics, Data Analytics, for Morningstar DBRS.

    Sanjay Arya

    Sanjay Arya

    Sanjay Arya, CFA, is head of Innovation, Index Products, Morningstar Indexes.

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    40 investments
    CompanyRoundAmountDate
    KIP Protocol logoKIP ProtocolUnknown$5MAug 2024
    NnexioPre-Seed$2.2MAug 2024
    Sonic SVM Ecosystem logoSonic SVM EcosystemSeries A$12MJun 2024
    Aark Digital logoAark DigitalUnknown$6MApr 2024
    XION logoXIONSeries A$25MApr 2024
    Merkle Trade logoMerkle TradeUnknown$2.1MApr 2024
    SShiba InuUnknown$12MJan 2024
    KIP Protocol logoKIP ProtocolStrategic—Jan 2024
    KKyoko FinanceUnknown$3MFeb 2022
    KKyokoUnknown$3MFeb 2022
    NGRAVE logoNGRAVESeed$6MJan 2022
    Blast Royale logoBlast RoyaleSeed—Jan 2022
    Itheum logoItheumUnknown$1.5MJan 2022
    Bware logoBwareSeries A$6MJan 2022
    Epic Chain logoEpic ChainSeed$20MJan 2022
    bitsCrunch logobitsCrunchSeed$3.6MJan 2022
    EExotic MarketUnknown$5MJan 2022
    Ardana logoArdanaUnknown$1.5MNov 2021
    Tifin.ai logoTifin.aiSeries C—Oct 2021
    SolRazr logoSolRazrSeed$1.5MSep 2021
    Bware logoBwareSeed—May 2021
    Tifin.ai logoTifin.aiSeries B—Apr 2021
    NNova FinanceUnknown$3MJan 2021
    SStrips FinanceSeed$8.5MJan 2021
    CCoinwebUnknown$4MJan 2021
    Page 1 of 2

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    Last updated: 7 October 2026