Ethereal Ventures Management Ltd.
Venture capitalActively deployingRoad Town, Tortola · Pre-Seed–Growth · 16 people tracked
Also known as Ethereal Ventures Sorare
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 Aug 25, 2026.
Team · 16 people
from the firm's website & curated
Founder mafia
2 people who came through Ethereal Ventures Management Ltd. went on to found or lead other companies.
What they invest in
from 14 of 25 portfolio companiesCrypto & Web3 ×11Developer Tools ×6Fintech ×4AI & Machine Learning ×3Data & Infrastructure ×3Enterprise Software ×3Cybersecurity ×2GovTech ×2
HQs:United States×10Denmark×1United Kingdom×1
Investments · 25 tracked
founders shown can be your intro pathBy year:2026 · 32023 · 32022 · 12021 · 29 dated
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)Victor 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 Vc
New York, US
Board seatMichael Kriak· per SEC Form D · $16M raise · filed Apr 2022
Brooklyn, US
Robert Boroujerdi(Director)Umar Farooq(Director)
BoardJoseph Lubin(Executive Officer, Director)in
Board seatMichael Kriak· per SEC Form D · $200M raise · filed Nov 2021
Co-investorsConsenSys Mesh
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)Brian 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)Layne Haber(Executive Officer, Director)inRahul Sethuram(Executive Officer)
Co-investorsA.Capital VenturesAmentum Investment ManagementCVP NoLimitD1 VenturesFenbushi CapitalFigment+13 more
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.
Co-investorsa16z cryptoAndreessen HorowitzCoinbase VenturesFigmentRobot VenturesVariant Fund
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
group.one provides an integrated platform of website building, hosting, domain, e-commerce, and marketing SaaS tools, including AI-powered website and content creation, aimed at small and medium-sized businesses, freelancers, agencies, and resellers.
Cloud ComputingMarketing TechSaaSCopenhagen, DK
Co-investorsRPS VenturesG1 VenturesGSRSeier CapitalVeris Ventures
Sentient Foundation is a collective of researchers and engineers developing open-source artificial intelligence and AGI, releasing frameworks such as ROMA (multi-agent reasoning and coordination), OML (open, monetizable model distribution), and ODS (search-augmented reasoning).
AI & Machine LearningDeep TechDeveloper Tools
Himanshu Tyagi(Founder)
Co-investorsArrington CapitalGSRHack VCHypersphere VenturesMH VenturesPantera Capital+9 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+3 more
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 · 1
IPOs and acquisitions across the tracked portfolioCryptoOTC: CRCW
Portfolio news
latest coverage across their companiesEntropy · alearesearch.substack.com · Aug 25, 2026
Ethereal Ventures · breakingtravelnews.com · Aug 17, 2026
Group · eu-startups.com · Aug 12, 2026
Entropy · tamradar.com · Jun 9, 2026
Gitcoin · gitcoin.co · Mar 5, 2026
EigenCloud · blog.eigencloud.xyz · Dec 18, 2025
Frequently asked questions
- How many investments has Ethereal Ventures Management Ltd. made?
- Ethereal Ventures Management Ltd. has 13 tracked investments.
- 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.
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.
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.
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.
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.
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.
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.
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.
Samsung Next is the venture investing arm that backs early-stage founders building bold, ambitious technology companies.
Divergence is a crypto-focused investment firm that describes itself as backing every radical form of capital, investing across DeFi, NFTs, DAOs, and blockchain infrastructure.
ParaFi Capital is a multi-strategy investment firm operating across public and private markets, focused on financial technology and capital markets innovation, including digital assets.
Hashed is a venture firm backing founders building in AI, crypto, and frontier technology, offering hands-on ecosystem support to portfolio companies from inception to global scale.
▶28 more co-investors
Brighter CapitalBattery VenturesTodd and Rahul’s Angel FundBitkraft Esports VenturesWinklevoss CapitalAwesome People Ventures7percent VenturesKearny JacksonGalaxy Digital Assets FundPolygonCrunchFundIVCMulticoin CapitalSeed Club VenturescLabsSolana VenturesLCXArchetypeNational Science FoundationCherubic VenturesSID Venture PartnersFinTech CollectiveGemini 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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