What stage does GSR invest at?

GSR invests at the Pre-Seed, Seed, Series A, Growth, Late Stage stages.

What sectors does GSR focus on?

GSR focuses on Crypto & Web3, Fintech.

Where is GSR located?

GSR is headquartered in New York, US.

Does GSR lead rounds?

Yes, GSR leads investment rounds.

GSR

Venture capital

New York · Pre-Seed–Late Stage · 14 people tracked

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Investment thesis

GSR positions itself as crypto's capital markets partner, supporting founders and institutions as they scale in digital assets. It provides liquidity provision, market-making, execution, and market infrastructure across spot and derivatives markets, serving token issuers, exchanges, financial institutions, fintech and payment companies, and asset managers. Beyond markets, GSR offers advisory support to early-stage crypto projects entering the market and invests early in ventures, backing teams with capital, market expertise, and a full stack of support to help them scale.

Invests inCrypto & Web3 FintechGlobalNew York

Source: firm website, verified Aug 3, 2026.

Stage

Pre-Seed–Late Stage

New York, VA, US

Leads rounds

Leads

Instruments

Equity

Founded

2012

Tracked investments

Team · 14 people

from the firm's website & public directories

Cristian Gil· Chairman

Chairman of GSR who previously spent nine years as a commodities trader at Goldman Sachs and has managed an investment portfolio across technology, real estate, hospitality, and media. He holds an economics degree from MIT.

Xin Song· CEO· Singapore

CEO of GSR, based in Singapore, in crypto since 2018 with a prior decade in traditional finance including a portfolio manager role at BlackRock and co-founding crypto derivatives hedge fund Magpie Capital. He is a CFA charterholder with degrees from LSE and London Business School.

Jake Dwyer· Managing Director· Charlottesville, Virginiain 𝕏

Jake Dwyer is the founder and managing partner of Factor Capital, an early-stage investment firm. Previously, he held operating roles at Two Sigma, HyperScience, and GSR, where he worked on commercializing machine learning and AI applications across institutional investing, enterprise software, and financial services. He has been working directly with AI and machine learning technologies since 2015.

Alain Kunz· Head of Business Development, EMEA

Head of Business Development for EMEA at GSR, leading European business development. He previously founded several financial services and digital asset ventures and began his career at UBS Investment Bank.

Alex Taaffe· Chief Revenue Officer

Chief Revenue Officer at GSR with a background in equity derivatives, having held leadership roles at IMC Trading, Citi, and Deutsche Bank.

Brian Rudick· Managing Director of Research

Has led GSR's research team for three years and has been featured in publications including The Wall Street Journal, Bloomberg, and CoinDesk.

Carlos Guzman· Researcher

Joined GSR's research team from The Block, where he was Research Director leading consulting and bespoke research; previously worked in management consulting and finance.

CJ Fong· APAC General Manager· Singapore

APAC General Manager at GSR, based in Singapore, who began his career as a structurer at Morgan Stanley in Hong Kong and later worked in private banking at Morgan Stanley and Nomura.

Jakob Palmstierna· President· United Kingdomin 𝕏

President of GSR and former Global CEO of the firm. He previously led Two Sigma's EMEA business and served as a board director of Two Sigma International, with prior roles at Winton Capital Management and Barclays Global Investors.

Jonathan Loflin· Chief Investment Officer

Chief Investment Officer at GSR with over 20 years of markets experience across major asset classes. He previously ran derivatives relative value strategies at Mariner Investment Group and BlueMountain Capital, and began his career as a quant at Goldman Sachs.

Josh Riezman· Chief Legal & Strategy Officer

Chief Legal & Strategy Officer at GSR, previously Assistant General Counsel at Circle, with prior experience advising financial institutions on trading, clearing, and custody. He holds a JD from Fordham Law.

Joshua Riezman· US Chief Strategy Officer

Serves as US Chief Strategy Officer at GSR and commented on the firm's Litecoin treasury initiative with MEI Pharma.

Quynh Ho· Head of Venture Investment

Quynh Ho couples early-stage crypto venture investing with M&A oversight, bringing an investment-banking deal-making lens that favors structured transactions and strategic acquisitions supporting her firm's trading and infrastructure businesses.

Thomas Bautista· Technical Research Analyst (previous role)

Known as Toe, joined GSR from Messari where he was a Technical Research Analyst focused on DeFi and alt-L1s; previously a data scientist at IBM.

What they invest in

from 15 of 36 portfolio companies

Fintech ×8Crypto & Web3 ×6Enterprise Software ×5AI & Machine Learning ×4Creator Economy ×3SaaS ×3Data & Infrastructure ×2Social ×2

HQs:United States×9Singapore×1

Investments · 36 tracked

founders shown can be your intro path

MEI Pharma, Inc.NASDAQ: LITS

NASDAQ-listed company making Litecoin its institutional treasury asset with GSR as strategic advisor and digital asset manager.

BiotechSan Diego, US

Frederick W. Driscoll(Director)Christine A. White(Director)David M. Urso(Executive Officer)Nicholas R. Glover(Director)William D. Rueckert(Director)Daniel P. Gold(Executive Officer, Director)

3F Labs3f.xyzin 𝕏✓ verified

3F is a DeFi protocol for leveraged strategies on tokenized real-world assets and onchain credit, letting users take leveraged exposure to RWA vaults or deposit stablecoins into Morpho-powered lending vaults to earn yield.

Crypto & Web3Fintech

Algo Capital

Alpharetta, US

Arul Murugan(Managing Member)David Garcia(Managing Member)

Arkhamarkm.com

Bronaskbron.aiin 𝕏

Bron is an AI-powered sports trading assistant that analyzes statistics, compares odds across sportsbooks, and identifies betting opportunities in real time.

AI & Machine LearningConsumerData & InfrastructureEnterprise SoftwareSports TechSan Francisco, US

Anish Gupta(Founder)inMarc Zoghby(Founder)in

CoinList

Platform for token sales and crypto asset access.

Brian Tubergen(Cofounder)

CoinList CeFi Seedcoinlist.coin 𝕏

CoinList operates a platform for token sales, pre-IPO stocks, equities, and funds, serving as infrastructure for financial markets and payments onchain.

Crypto & Web3Data & InfrastructureFintech

Crypto Inco On-chain privacy solutionsinco.org𝕏

DoubleZero

Global fiber network providing high-performance connectivity for distributed systems and blockchains

EDXMedxmarkets.comin 𝕏

A Singapore-based exchange for perpetual crypto futures trading, designed with institutional-grade risk controls and transparency standards.

Crypto & Web3FintechSingapore, SG

EtherFi

Asset staking platform providing automated rewards optimization

Etherfi Grand Cayman, Cayman Islandsether.fiin 𝕏

Ferrum Healthferrumhealth.com

Ferrum Health develops AI accountability solutions, though the specific products and customer base are not detailed on the company page.

AI & Machine LearningDigital HealthEnterprise SoftwareSunnyvale, US

Pelu Tran(Executive Officer, Director)in

BoardPatrick Steele(Director)Jaclyn Hester(Director)Kenneth Ko(Director)

Gliderglider.ioin 𝕏

Glider helps businesses manage their contract workflows and reduce administrative overhead so teams can focus on core operations rather than manual contract handling.

Enterprise SoftwareFuture of WorkPortland, US

Henry Liu(Founder)inBrandon Paton(Founder)inJohn Marbach(Founder)in

Gliderglider.comin

Glider is a Colorado-based nonprofit organization that produces and hosts community events including TEDxBoulder, Ignite Boulder, and Boulder Startup Week.

FintechSaaSSocialPortland, US

Andrew Hyde(Executive Director)

Hashflow

Digital content distribution platform

Hyperbolichyperbolic.xyzin 𝕏

Katana

Polygon-based protocol incubated by GSR.

Kilnkiln.fi

LimeWirelimewire.com

M^0m0.orgin 𝕏

M0 provides a modular platform for designing and issuing stablecoins, allowing users to independently configure token behavior, issuers, and other stablecoin stack components.

Crypto & Web3Fintech

M10m10.ioin 𝕏

M10 provides a cloud-based platform for the tokenization of regulated financial liabilities, enabling instant settlement and programmable payments across multiple financial institutions.

Cloud ComputingCrypto & Web3Fintech

Maple Financemaple.financein 𝕏

MEI Pharmameipharma.comin 𝕏

meshMapmeshmap.comin 𝕏

MeshMap provides 3D mapping and spatial content creation tools for extended reality (VR, AR, and MR) experiences.

Creator EconomyDeveloper ToolsGaming

Noisenoise.xyz𝕏

Noise is a community-curated media platform that aggregates and showcases trending topics, cultural phenomena, and emerging interest areas across entertainment, technology, finance, and lifestyle domains.

Creator EconomyMedia & EntertainmentSocial

OG Labs0g.aiin 𝕏

Phenixfhenix.io𝕏

RockawayX portfolio company: DoubleZerodoublezero.xyz

Sagasaga.xyz𝕏

Saga builds AI agents that enable creators, studios, and brands to deploy persistent character personalities across social platforms and messaging environments.

AI & Machine LearningCreator EconomySaaSLas Vegas, US

Kevin Dale Klassen(Director)Ryan Robert Dean(Executive Officer, Director)

Sei

High-performance parallel blockchain technology

Sentientsentient.foundationin 𝕏

Solidus Labssoliduslabs.com

Solidus Labs provides compliance and market monitoring software for cryptocurrency and traditional finance.

Crypto & Web3CybersecurityEnterprise SoftwareFintechNew York, US

Prosor Lior(Director)Shimon Mazor(Director)Asaf Meir(Executive Officer, Director)Chen Arad(Director)Praveen Kumar(Executive Officer, Director)

The Open Network

Decentralized internet protocol designed to onboard hundreds of millions of users on-chain

TrueNorthtruenorthfleet.comin 𝕏

TrueNorth operates a digital loadboard and AI-powered freight matching platform that connects brokers with vetted carriers.

AI & Machine LearningEnterprise SoftwareFintechLogistics & Supply ChainSaaSSan Francisco, US

Sanjaya Wijeratne(Founder)inJin Stedge(Founder)in

Frequently asked questions

What stage does GSR invest at?: GSR invests at the Pre-Seed, Seed, Series A, Growth, Late Stage stages.
What sectors does GSR focus on?: GSR focuses on Crypto & Web3, Fintech.
Where is GSR located?: GSR is headquartered in New York, US.
Does GSR lead rounds?: Yes, GSR leads investment rounds.

From the blog

visit blog ↗

Zcash's Ironwood Upgrade - GSR WeeklyAug 2026Zcash's Ironwood upgrade replaced its shielded pool with a formally verified one built using AI-assisted development, illustrating how AI is reshaping both crypto security and exploit discovery...],{

Media · Podcasts & interviews

featuring the team

Xin Song, CEO of GSR on the challenges with fungibility of stablecoins #Stablecoins #GSR #shorts

Finery Markets · Xin Song

Xin Song, CEO of GSR, discusses the next 100 mln users in crypto

Finery Markets · Xin Song

Xin Song, CEO of GSR, discusses scalability in trading

Finery Markets · Xin Song

Xin Song, CEO of GSR on his professional background #DigitalAssets #InstitutionalCrypto #GSR

Finery Markets · Xin Song

Xin Song, GSR | theCUBE + NYSE Wired: Crypto Trailblazers - ETH 10th Anniversary Edition

SiliconANGLE theCUBE · Xin Song

Jakob Palmstierna (GSR) Explains the Math on Why DeFi Yields Beat TradFi

alpha un# podcast · Jakob Palmstierna

Images

Co-investors · 2

Greylock Partners

Greylock Partners is a venture capital firm that backs founders at the earliest stages, often as their first investor before a product exists.

$100K – $200M

Conviction

Conviction Partners is a venture firm focused on AI-native, 'Software 3.0' companies, aiming to be an early and often first investor in startups translating AI models into transformative products.

$1M – $25M

Firms observed investing alongside GSR, from public investor directories. Shared companies are the overlap with GSR's recorded portfolio.

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