Ethereal Ventures Management Ltd.
Venture capitalActively deployingRoad Town, Tortola · Pre-Seed–Growth · 17 people tracked
Also known as Ethereal Ventures Sorare
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3,194 people in our graph share verified history with the Ethereal Ventures Management Ltd. team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Ethereal Ventures backs founders building in crypto and Web3, driven by the belief that permissionless networks and digital assets represent a civilizational paradigm shift toward sovereignty, ownership, and access. The firm invests globally and supports companies across their lifecycle, from inception to growth. It emphasizes a founder-forward, hands-on approach, engaging deeply on technical architecture, protocols, and research. Beyond capital, Ethereal helps founders achieve product-market fit and scale globally through its network and market insights. The firm prioritizes responsible innovation, backing projects that balance ambition with empathy and favor user-centric systems over extractive models.
Source: firm website, verified Sep 15, 2026.
Team · 17 people
from the firm's website & curated & public directories
Founder mafia
5 people who came through Ethereal Ventures Management Ltd. went on to found or lead other companies.
What they invest in
from 22 of 36 portfolio companiesCrypto & Web3 ×15Developer Tools ×8Fintech ×7AI & Machine Learning ×5Data & Infrastructure ×5Enterprise Software ×3SaaS ×3Cybersecurity ×2
HQs:United States×12Denmark×1France×1United Kingdom×1British Virgin Islands×1
Investments · 36 tracked
founders shown can be your intro pathBy year:2026 · 32024 · 12023 · 42022 · 72021 · 419 dated
The company develops blockchain infrastructure and operates a Layer 1 interoperability network called Frame Blockchain, while also providing consulting and educational services related to blockchain technology to corporate and individual clients.
Malibu, US
Ronald Levy(Executive Officer, Director)Deborah Thomas(Executive Officer, Director)James Gilbert(President)Michael Poutre(Chief Executive Officer)
BoardHolly Ruxin(Director)Rafael Furst(Director)
Co-investorsAmber GroupArkStream CapitalCatcherVCMH Ventures
BlockApps offers an enterprise blockchain platform (STRATO) for tokenizing and managing real world assets such as crypto, precious metals, and tokenized securities.
Crypto & Web3Enterprise SoftwareFintechBrooklyn, US
Kieren James-Lubin(Executive Officer, Director)inVictor Wong(Director)
Board seatJoseph Lubin· per SEC Form D · $30M raise · filed Aug 2023
Co-investorsAAF Management Ltd.Bloccelerate VCConsenSys MeshFitz Gate VenturesJetBlue VenturesSKY VC+3 more
New York, US
Scott Lawin(Executive Officer, Director)inMichael Novogratz(Director)Christopher McKibbin(Director)Daniel Heyman(Executive Officer, Director)Steven Wald(Director)
Board seatMichael Kriak· per SEC Form D · $68.2M raise · filed Jan 2023
Co-investorsChaos VenturesConsenSys MeshNew Enterprise Associates (NEA)Sprint VcConsenSysGaingels+4 more
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Gitcoin operates a directory and knowledge base for funding mechanisms, platforms, and research in decentralized networks, Ethereum, and public goods.
Crypto & Web3Data & InfrastructureGovTechLafayette, US
Kevin OwockiKevin O.(Founder)inKyle Weiss(Executive Officer, Director)
BoardMatt Huang(Director)in
Board seatMichael Kriak· per SEC Form D · $11.3M raise · filed Apr 2021
Co-investorsBootNodeConsenSys MeshDivergenceFenbushi CapitalIDEO CoLab VenturesIOSG Ventures+4 more
1Money builds a decentralized payment network for stablecoin and tokenized deposit transfers, designed for global financial settlements.
Crypto & Web3Fintech
Matt Shroder(Founder)inBrian Shroder(Founder)in
Co-investorsA100X VenturesCMT Digital VenturesF-Prime CapitalGenerative VenturesHack VCProtagonist+2 more
Aleo is a Layer-1 blockchain platform powered by zero-knowledge cryptography that enables private, programmable, and scalable applications.
Crypto & Web3Developer ToolsEnterprise SoftwareFintechReno, US
Howard Wu(Founder)inMichael Beller(Executive Officer)
Co-investorsCoinbase VenturesA.Capital Venturesa16z cryptoAmbush CapitalDigital Currency GroupHaun Ventures+8 more
Aztec is a Layer 2 blockchain network on Ethereum that enables programmable privacy for decentralized applications through client-side zero-knowledge proofs and a dual state architecture.
Crypto & Web3CybersecurityDeveloper ToolsLondon, GB
ZacThomas Pocock(Founding CEO)inZachary Williamson(Founding CTO & Current CEO)inArnaud Schenk(Cofounder)inJoe Andrews(Cofounder & Head of Product)in
Co-investorsA.Capital Venturesa16z cryptoAndreessen HorowitzCoinbase VenturesConsenSys MeshEntrepreneur First+8 more
Coinshift offers institutional credit yield products that are liquid and composable onchain.
Crypto & Web3Fintech
Tarun Gupta(Founder)in
Co-investorsEarl Grey CapitalGraph Paper CapitalLongHash VenturesiSeedPolygon StudiosQuiet Capital+3 more
Connext provides xCall, a developer tool that enables applications to interact with users, tokens, and other applications across multiple blockchains.
Crypto & Web3Developer ToolsSan Francisco, US
Arjun Bhuptani(Executive Officer, Director)inLayne Haber(Executive Officer, Director)inRahul Sethuram(Executive Officer)in
Co-investorsA.Capital VenturesAmentum Investment ManagementCVP NoLimitD1 VenturesFenbushi CapitalFigment+14 more
Helps users find the lowest price for trades across exchanges and aggregators.
Co-investorsConsenSys MeshHack VCBlockchain Capital
EigenCloud is a developer platform that adds cryptographic verifiability to data, computation, and AI inference, backed by slashable stake on EigenLayer.
AI & Machine LearningCrypto & Web3Developer Tools
Co-investorsElectric CapitalL2 Iterative Ventures (L2IV)LemniscapRR2 Capitala16z cryptoAndreessen Horowitz
Entropy provides an AI-powered operating system for specialty healthcare practices that automates patient intake, eligibility verification, prior authorization, and revenue cycle management.
AI & Machine LearningHealthtechSaaSSan Francisco, US
Rabii Malik(Founder)in
Co-investorsY Combinatora16z cryptoAndreessen HorowitzCoinbase VenturesRobot Ventures
Entropy was an a16z-backed decentralized crypto custody and threshold-signing network that wound down in January 2026.
New York, US
JOHN PACIFIC(Executive Officer, Director)
Co-investorsa16z cryptoAndreessen HorowitzCoinbase VenturesFigmentCerulean VenturesRobot Ventures+1 more
Ethereal Ventures is a venture capital firm that invests in companies building on permissionless blockchain networks and digital assets.
Crypto & Web3
Joseph Lubin(Chairman)inMin Teo(Managing Partner & Co-CIO)in
Co-investorsAmbush CapitalConsenSys MeshFurther Ventures
Flashbots is a research and development organization that mitigates negative externalities from Maximal Extractable Value (MEV) on blockchains, primarily Ethereum, through infrastructure and tools for block building, transaction protection, and MEV distribution.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investorsBig Brain HoldingsBlueYard CapitalDragonflyFabric VenturesFactionFenbushi Capital+12 more
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group.one is a European provider of digital solutions for small and medium businesses, offering web hosting, domain registration, website building, and SaaS tools for compliance, booking, and site performance.
AI & Machine LearningCloud ComputingE-commerceMarketing TechPropTechSaaSCopenhagen, DK
Daniel Hagemeier(CEO)
Co-investorsAccel-KKRRPS VenturesG1 VenturesGSRSeier CapitalVeris Ventures
Khalani provides infrastructure for cross-chain and multi-provider transactions, enabling operators to define enforceable execution rules (price, latency, finality) that are automatically enforced across a network of solvers, market makers, bridges, and on/off-ramp providers.
Crypto & Web3Data & InfrastructureFintech
Co-investorsFigmentMaelstromNascentFigment Capital
MSquared provides a platform that enables companies to build and operate virtual worlds and metaverse experiences with customizable user management, in-world economies, and avatar systems.
Creator EconomyDeveloper ToolsGamingMedia & Entertainment
Co-investorsExto Partners
Neon Labs develops technology to bridge Ethereum Virtual Machine (EVM) applications with the Solana blockchain, aiming to make Web3 transactions faster and cheaper.
Crypto & Web3Data & InfrastructureDeveloper ToolsGrand Cayman
Petrus Dorfling Basson(Executive Officer, Director)Marina Guryeva(Executive Officer, Director)David Charles Lloyd(Executive Officer, Director)
Co-investorsAdvanced BlockchainBollinger Investment GroupNxGenPuzzle VenturesRockawayXWintermute+4 more
OneKey helps site developers and operators identify optimal locations for building electric vehicle charging stations based on profitability analysis.
FintechParis, FR
Christophe Barre(Founder)inUlysse Prygiel(Founder)in
Co-investorsIOSG VenturesY CombinatorCoinbase VenturesDragonflyFolius VenturesFramework Ventures+2 more
OneKey makes hardware wallets and related software for storing and managing cryptocurrency, including staking management and support for EVM decoding, Solana message signing, and connections to wallets like MetaMask and Sparrow.
Crypto & Web3Hardware
Yishi W.(Founder)in
Co-investorsCoinbase VenturesBitDAOBixin CapitalBixin VenturesIOSG VenturesMantle Network+6 more
Sentient Foundation is a non-profit organization committed to building open-source AGI independent of single-entity control.
AI & Machine LearningDeep TechDeveloper ToolsSector Agnostic
Himanshu Tyagi(Founder)in
Co-investorsArrington CapitalGSRHack VCHypersphere VenturesMH VenturesPantera Capital+9 more
Sentient is an AI solutions provider offering enterprise services including automatic speech recognition for Asian languages.
Christopher Yeo(Founder)in
Co-investorsDG Daiwa VenturesUntroD CapitalArrington CapitalCanonical CryptoForesightForesight Ventures+9 more
Zillow Closing (formerly Spruce) provides a digital title and closing service for homebuyers, offering a streamlined online process with a dedicated closer as a single point of contact.
FintechPropTech
Co-investorsBessemer Venture PartnersMetaProp VenturesNotation CapitalRadicle ImpactThird PrimeElectric Capital+2 more
SpruceID provides digital identity systems for governments and regulated industries, enabling secure verification and authentication across legacy and modern infrastructure.
Crypto & Web3CybersecurityData & InfrastructureDigital HealthEnterprise SoftwareGovTechNew York City, US
Wayne Chang(Founder)inGregory Rocco(Founder)in
Co-investorsA.Capital Venturesa16z cryptoAndreessen HorowitzBrighter CapitalCoinbase VenturesElectric Capital+6 more
Spruce Systems provides an AI tool for commercial landscaping companies that captures property context during routine maintenance and generates site audit reports for account managers.
AI & Machine LearningSaaSSales Tech
Max Makeev(Founder)inMatt Fitzgerald(Founder)in
Co-investors2048 VenturesAndreessen HorowitzElectric CapitalOkta VenturesProtocol LabsRobot Ventures+2 more
Syndicate provides infrastructure to scale the Ethereum blockchain, supporting staking and development operations on the network.
Crypto & Web3Mountain View, US
William Raphael Papper(Executive Officer, Director)Ian John Lee(Executive Officer, Director)ian //(Founder)in
Co-investorsA.Capital Venturesa16z cryptoAndreessen HorowitzArchetypeAtelierBlueYard Capital+20 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Community Gaming, Inc.ConsenSys Software, Inc.AlluvialBlueskyDriftMauvePortolaUSDaiUtexo
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Exits · 2
1 IPOs · 1 acquisitionsPortfolio news
latest coverage across their companies
Entropy · alearesearch.substack.com · Aug 25, 2026
Ethereal Ventures · breakingtravelnews.com · Aug 17, 2026
Group · eu-startups.com · Aug 12, 2026
Syndicate · tekedia.com · Jul 18, 2026
Entropy · tamradar.com · Jun 9, 2026
Khalani · blog.khalani.network · May 13, 2026
OneKey · onekey.so · May 12, 2026
Frequently asked questions
- How many investments has Ethereal Ventures Management Ltd. made?
- Ethereal Ventures Management Ltd. has 36 tracked investments, 2 of which have exited, including 3 dated in the last 24 months.
- What stage does Ethereal Ventures Management Ltd. invest at?
- Ethereal Ventures Management Ltd. invests at the Pre-Seed, Seed, Series A, Series B, Growth stages.
- What sectors does Ethereal Ventures Management Ltd. focus on?
- Ethereal Ventures Management Ltd. focuses on Crypto & Web3.
- Where is Ethereal Ventures Management Ltd. located?
- Ethereal Ventures Management Ltd. is headquartered in Road Town, Tortola.
- Who does Ethereal Ventures Management Ltd. co-invest with?
- Ethereal Ventures Management Ltd. most often shares deals with A.Capital Ventures, a16z crypto, Nascent, among 46 tracked co-investors.
Images
Co-investors · 40
Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.
Electric Capital is an early-stage venture firm founded in 2018 that backs founders building trust-minimized technologies across AI, crypto, fintech, and related sectors.
A.Capital Ventures is an early-stage venture firm that provides funding, network access, and hands-on support to entrepreneurs building forward-thinking technology companies.
Nascent is a crypto-focused investment firm that builds, invests in, and competes across open markets and permissionless technologies, deploying both venture and liquid strategies as active participants in the crypto ecosystem.
Robot Ventures is a $75M early-stage crypto fund founded and led by Robert Leshner (Compound) and Tarun Chitra (Gauntlet), who actively run major DeFi companies while managing the fund, giving founders direct access to operators at the center of on-chain markets. The fund specializes in backing highly technical crypto primitives at the pre-seed stage before they become marquee names, leveraging deep quant research expertise to evaluate complex DeFi mechanisms that many generalist VCs struggle to understand.
Dragonfly is a crypto-focused investment firm comprising Dragonfly Ventures, Dragonfly Liquid, and Metastable, an early crypto hedge fund it acquired. It invests in and researches blockchain, tokens, and crypto companies.
Battery Ventures is a global investment firm that has backed more than 450 companies over its 40-year history, operating its investment staff as a single global unit.
Slow Ventures is a generalist early-stage venture capital firm founded in 2011, with offices in San Francisco, Boston, and New York, investing in the earliest rounds of companies across many sectors.
Todd and Rahul's Angel Fund is an early-stage investment vehicle run by founders Todd Goldberg and Rahul Vohra, who write $300k-$500k checks into early-stage startups and help with product/market fit, go-to-market, and future fundraising.
Digital Currency Group (DCG) is a long-term investor in and operator of businesses across the crypto and blockchain industry, holding equity, fund, and token positions.
Galaxy is an institutional digital assets and data center company offering trading, lending, asset management, investment banking, staking, custody, and venture investing across the crypto and blockchain ecosystem, along with a strategic expansion into AI/HPC data center infrastructure.
Samsung Next is the venture investing arm that backs early-stage founders building bold, ambitious technology companies.
▶28 more co-investors
DivergenceArchetypeParaFi CapitalHashedFinTech CollectiveBrighter CapitalBitkraft Esports VenturesWinklevoss CapitalAwesome People Ventures7percent VenturesKearny JacksonPolygonCrunchFundIVCMulticoin CapitalSeed Club VenturescLabsSolana VenturesLCXNational Science FoundationCherubic VenturesSID Venture PartnersGemini Israel VenturesGnosis DAOFMFWKatapult AfricaDekrypt CapitalAppWorks Ventures
Firms observed investing alongside Ethereal Ventures Management Ltd., from public investor directories. Shared companies are the overlap with Ethereal Ventures Management Ltd.'s recorded portfolio.
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