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.
40% of their portfolio is in Crypto & Web3. Deal activity increased 40% year-over-year (7 deals in the last 12 months). Their most common stage is seed (40% of deals). Average disclosed round size is $46.3M (across 126 rounds with reported amounts).
Portfolio
112
Fund Size
$430M
Top Stage
Seed
Last 12 Mo
7
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
135 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Fun | Series A | $72M | May 2026 |
 HYFIX | Seed | $15M | Apr 2026 |
 Novig | Series B | $75M | Feb 2026 |
 Novig | Series B | $75M | Feb 2026 |
| FFun.xyz | Series A | $72M | Jan 2026 |
| TTrasia | Seed | $35M | 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 |
| DDoubleZero Foundation | Unknown | $28M | Jan 2025 |
 Mevvy | Seed | $2.8M | Jan 2025 |
 Kalshi | Series C | $185M | Jan 2025 |
| PP2P.me | Seed | $2M | Jan 2025 |
 Kuzco | Seed | $11.8M | Jan 2025 |
| MMoonwalk Fitness | Unknown | $3.4M | Oct 2024 |
| DDorado | Seed | $3M | Jun 2024 |
 Baxus | Seed | $5M | May 2024 |
 XION | Series B | $25M | Apr 2024 |
| XION | Series A | $25M | Apr 2024 |
 Zama | Series A | $73M | Mar 2024 |
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Top Co-Investors
Animoca Brands17 shared
Solana Ventures13 shared
Protocol Labs12 shared
Circle Ventures12 shared
Coinbase Ventures11 shared
CoinFund11 shared
Hack VC10 shared
Hashed10 shared
Union Square Ventures9 shared
Paradigm9 shared
Dragonfly9 shared
CMS Holdings9 shared
Pantera Capital8 shared
Jump Crypto8 shared
DeFiance Capital8 shared
Galaxy Ventures7 shared
Blockchange Ventures7 shared
Andreessen Horowitz7 shared
Sequoia Capital6 shared
Digital Currency Group6 shared
Last updated: 20 October 2026