Multicoin Capital is a thesis-driven investment firm that makes long-term, high-conviction investments in category-defining crypto companies and protocols across both public and private markets. Founded in 2017 and headquartered in Austin, Texas, the firm manages venture funds and a hedge fund focused on cryptoassets, tokens, and blockchain companies.
47% of their portfolio is in Crypto & Web3. Deal activity increased 133% year-over-year (7 deals in the last 12 months). Average disclosed round size is $57.8M (across 86 rounds with reported amounts).
Portfolio
84
Fund Size
$430M
Top Stage
Seed
Last 12 Mo
7
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
89 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Squads | Unknown | $18M | Apr 2026 |
 Hyfix | Seed | $15M | Apr 2026 |
 Novig | Series B | $75M | Feb 2026 |
| FFun.xyz | Series A | $72M | Jan 2026 |
 Li.Fi | Series A | $29M | Dec 2025 |
| LLI.FI Protocol | Series A | $29M | Dec 2025 |
 Crunch DAO | Seed | $5M | Oct 2025 |
 Yield.xyz | Strategic | $5M | Jun 2025 |
 Gradient Network | Seed | $10M | Jun 2025 |
 Arch Network | Series A | $13M | Apr 2025 |
 DoubleZero | Unknown | $28M | Mar 2025 |
 Forward Industries | Unknown | $1.6B | Jan 2025 |
 Mevvy | Seed | $2.8M | Jan 2025 |
 Kalshi | Series C | $185M | Jan 2025 |
| MMoonwalk Fitness | Unknown | $3.4M | Oct 2024 |
 Xion | Series B | $25M | Apr 2024 |
 Zama | Series A | $73M | Mar 2024 |
| Squads | Series A | $10M | Jan 2024 |
| ZZkme | Seed | $4M | Jan 2024 |
 Baxus | Seed | $5M | Jan 2024 |
 Mountain Protocol | Seed | $8M | Jan 2024 |
 Drift Protocol | Series A | $23.5M | Jan 2024 |
 Fhenix | Seed | $7M | Sep 2023 |
 Tableland | Series A | $8M | Apr 2023 |
 Sei | Unknown | $30M | Apr 2023 |
Page 1 of 4
Top Co-Investors
Solana Ventures12 shared
Protocol Labs8 shared
Coinbase Ventures8 shared
CoinFund8 shared
Pantera Capital7 shared
Paradigm7 shared
Union Square Ventures7 shared
Galaxy Ventures7 shared
Jump Crypto7 shared
Animoca Brands7 shared
Blockchange Ventures6 shared
Dragonfly6 shared
Hack VC6 shared
Circle Ventures6 shared
CMS Holdings6 shared
Variant5 shared
Hashed5 shared
Reciprocal Ventures5 shared
Sequoia Capital4 shared
DeFiance Capital4 shared
Last updated: 7 September 2026