Wintermute Ventures is the strategic investment arm of Wintermute, a global algorithmic trading firm and liquidity provider in digital assets. It invests proprietary capital in early-stage startups across the crypto and blockchain ecosystem, including DeFi, infrastructure, RWA, and payments.
34% of their portfolio is in Crypto & Web3. Average disclosed round size is $18.8M (across 71 rounds with reported amounts).
Portfolio
68
Fund Size
—
Top Stage
Series A
Last 12 Mo
8
Team
Lilian Tan
Chief Compliance Officer
Nalaka Gamage
Chief Financial Officer
ET
Evan Tan
Venture Capital
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
79 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Silicon Data | Series A | $30.5M | Aug 2026 |
 Crossover Markets | Series B | $31M | Mar 2026 |
 Based | Series A | $11.5M | Feb 2026 |
 Tenbin | Seed | $7M | Jan 2026 |
 Velocity | Unknown | $38M | Jan 2026 |
 Tenbin | Seed | $7M | Jan 2026 |
| BBased One | Unknown | $11.5M | Jan 2026 |
| IInversion Labs | Seed | $26.5M | Sep 2025 |
 Analog | Unknown | $16M | Apr 2025 |
 Codex | Seed | $15.8M | Apr 2025 |
| WWhite Star Capital | Series A | — | Jan 2025 |
 Mangrove | Unknown | $35M | Jan 2025 |
 Sperm Racing | Seed | $10M | Jan 2025 |
 Tria | Pre-Seed | $12M | Jan 2025 |
| IInversion Labs | Seed | $26.5M | Jan 2025 |
 Notabene | Series B | $14.5M | Nov 2024 |
 Stork Labs | Seed | — | Aug 2024 |
| Crossover Markets | Series A | $12M | Jun 2024 |
 Centrifuge | Series A | — | Apr 2024 |
 Taiko | Series A | $15M | Mar 2024 |
 Kiln | Series A | $17M | Jan 2024 |
 Lens | Unknown | $31M | Jan 2024 |
 Pontem | Unknown | $6M | Jan 2024 |
| NNotabene Id | Series B | $14.5M | Jan 2024 |
| AAndrena (DAWN) | Series A | $18M | Jan 2024 |
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Top Co-Investors
Coinbase Ventures15 shared
Dragonfly8 shared
Flow Traders7 shared
Circle Ventures7 shared
Pantera Capital6 shared
ParaFi Capital6 shared
CMT Digital6 shared
Variant6 shared
Galaxy Ventures6 shared
IOSG Ventures5 shared
Digital Currency Group5 shared
Fabric Ventures5 shared
Polychain Capital5 shared
Hypersphere Capital5 shared
Mirana Ventures5 shared
GoldenTree Asset Management4 shared
Hashed4 shared
Lightspeed Venture Partners4 shared
Amber Group4 shared
Jump Capital4 shared
Last updated: 9 September 2026