Initial Capital — Full Portfolio

Alby provides self-custody bitcoin wallet software and infrastructure, accessible through web and mobile applications, enabling users to make payments and receive bitcoin via Lightning Network addresses without relying on centralized custodians.

Crypto & Web3Fintech

Co-investorsFUFulgur VenturesHIHivemind Ventures, Llc

Amihan is an interactive entertainment studio that develops games, including the farm game Farm Frens and an upcoming title called Everseed.

ConsumerGamingMedia & EntertainmentLos Angeles, US

NMNaomi McArthur(Founder)inPLPaul Loy(Founder)in

Co-investorsALAlliance DAO (ex DeFi Alliance)HAHash3 CapitalTRTransLink Capital

Antidote invests in and builds Bitcoin startups and operates a coworking hub and community space where Bitcoin builders, investors, media, and policymakers meet, host events, and make deals.

Crypto & Web3PropTechLondon, GB

Ryan William Sheldon(Executive Officer, Director)Reese Hanneman(Executive Officer, Director)in

BoardBrandon Rinner(Director)

Co-investorsLALakestarLELegalTech

AppGyver is a no-code platform for building web and mobile applications with visual development tools and cloud backend functions.

Cloud ComputingDeveloper ToolsSaaSSan Francisco, US

Marko Sakari Lehtimaki(Executive Officer, Director)Henri Samuel Vahakainu(Executive Officer)

BoardPOPatrik Olof Backman(Director)inTMTommi Markus Uhari(Director)inKRISTIAN SEGERSTRALE(Director)

Co-investorsOPOpenOceanKAKarma Ventures

Quest Analytics provides cloud-based software and services for healthcare provider network management, including its Quest Enterprise Services (QES) platform for measuring, monitoring, and modeling network adequacy, compliance, performance, and provider data accuracy.

Digital HealthEnterprise SoftwareHealthtechSaaSSan Francisco, US

ATAri Tulla(Founder)inTTTapio Tolvanen(Founder)in

BoardMohamad Makhzoumi(Director)JCJean-Francois Clavier(Director)inJaakko Kokko(Director)in

Co-investors50500 GlobalCOCommerce VenturesHEHealth Catalyst CapitalKIKima VenturesLILifeline VenturesMEMetaplanet+3 more

Bipa is a Brazilian financial app that enables users to buy, sell, and manage Bitcoin and US Dollar holdings through Pix transfers and a branded credit card offering Bitcoin cashback.

Crypto & Web3FintechSão Paulo, BR

Co-investorsFUFulgur VenturesHIHivemind Ventures, LlcLILightning VenturesSTSTILLMARK

Bringin offers a self-custody Lightning wallet and app that lets European Bitcoiners convert Bitcoin to euros, receive funds in a personal virtual IBAN, and spend via debit cards anywhere Visa works.

Crypto & Web3FintechTallinn, EE

Prashanth C(Founder & CEO)

Co-investorsFUFulgur Ventures

BUX is a European neobroker offering an investing app where retail users can buy stocks, ETFs and ETCs, automate contributions via investment plans, access model portfolios, and earn interest on uninvested cash.

ConsumerFintech

Co-investorsFIFinch CapitalVEVelocity Fintech VenturesHOHoltzbrinck VenturesHVHV CapitalPRProsus VenturesVEVelocity Capital Advisors

Code Kingdoms offers online, self-paced coding courses that teach children ages 8-14 to program Minecraft mods (in Java) and Roblox games (in Lua) through interactive video tutorials and a web-based code editor.

EdTechGamingSaaSLondon, GB

RTRoss Targett(Cofounder)in

Co-investorsENEntrepreneur FirstFOForce Over Mass CapitalSPSparkLabs Global Ventures

Core Loop is a fully remote game studio focused on building multiplayer online games.

Gaming

Co-investorsANAndreessen HorowitzSISisu Game Ventures

Cowlabs is a product studio that builds and operates its own software products and also embeds as operational co-founders for other companies, handling product design, engineering, user acquisition, and growth.

Developer ToolsSaaS

Creature Studio is a design and branding firm that works across brand strategy, product design, and customer experience for its clients.

Sector Agnostic

Co-investors2525MadisonACActive PartnersBOBoost Capital PartnersTOTorch Capital

Cymmetria develops deception-based security software that detects and responds to attackers operating inside networks.

CybersecurityEnterprise SoftwareTel Aviv-Yafo, IL

GEGadi Evron(CEO)inDSDean Sysman(CTO)inRan Harel(CPO)

Co-investors40408 VenturesFOFollow[the]SeedLULumia CapitalMIMission and MarketRARally Ventures Management, LlcY Y Combinator+8 more

Joonas Jokela(Founder)Stella Wang(Founder)

Co-investorsBYbyFoundersSISisu Game VenturesSPSpintop VenturesGAGalaxy Interactive

Whitelabel buy-now-pay-later platform for retail finance at the point of sale.

Christer Holloman(Founder)Todd Latham(CEO)Anders Hallsten(Founder)Fredrik Borgquist(Founder)

Co-investorsDADawn CapitalDGDG Daiwa VenturesDNDN CapitalFIFINTECH CircleGLGlobal BrainGRGreen Shores Capital+9 more

Ego Death Capital is a venture capital and investment firm that backs founders and companies in emerging markets and digital assets.

Crypto & Web3Enterprise Software

JBJeff Booth(Founding Partner)Nico Lechuga(Founding Partner)Andi Pitt(Founding Partner)LALyn Alden(General Partner)

Farm Frens is a farming simulation game on the Base App where players plant crops, raise animals, and handle daily mishaps in a comedic, offbeat setting.

Gaming

GAMEE operates a leading Telegram mini app platform with over 60 proprietary games and a social gaming layer, serving 120 million registered users.

AdTechAI & Machine LearningCrypto & Web3Gaming

MCMiroslav Chmelka(Co-founder, CTO)inBRBozena Rezab(Co-Founder)MZMartin Zakovec(CEO)inMNMartin Navratil(CMO)

Co-investorsANAnimoca Brands3V3VCEMEmfarsisPEPentos VenturesCRCredo VenturesINIndex Ventures

Hutch Games develops mobile car games focused on strategy and skill gameplay.

GamingLondon, GB

Co-investorsBABackedINIndex VenturesMOModern Times Group

Immersv operates a mobile virtual reality advertising platform and immersive web3D and virtual world engagement services.

Media & Entertainment

Co-investorsALAllMobile FundCOColopl NextEAEast VenturesFOFoundation CapitalGRGreeTHThe Venture Reality Fund

JAN3 builds Bitcoin infrastructure and applications, focusing on accelerating Bitcoin adoption and enabling circular economies through Layer 2 technologies.

AI & Machine LearningCrypto & Web3Fintech

SMSamson Mow(Chief Executive Officer)inHRH Prince Filip Karađorđević(Chief Strategy Officer)NSNick Szabo(Chief Scientist)ABAlex Bragin(Chief Technology Officer)

Co-investorsFUFulgur VenturesLILightning Ventures

Glen Allen, US

Ian Major(Founder)

Lendasat operates a peer-to-peer marketplace for Bitcoin-backed loans, matching borrowers who lock up Bitcoin as collateral with lenders.

Crypto & Web3FintechMarketplaces

Co-investorsFUFulgur Ventures

Magic DAYW Inc. is developing a mobile game.

Gaming

Co-investorsBABAI capitalCRCrystal Stream CapitalHOHongShan Capital GroupHYHyT CapitalIDIDG Capital

Magmatic is a mobile game company that develops games combining human creativity with AI technology.

AI & Machine LearningConsumerGaming

Florian Stronk(Founder)in

Co-investorsCHCherry VenturesCRCreandum

Medal is a free software application for recording, editing, and sharing gameplay highlights on PC and mobile.

Creator EconomyGamingHealthtechSan Francisco, US

Andrew McMurry(Executive Officer, Director)

BoardDaniel Kaminsky(Director)

Co-investorsALAlliance VCALAlliance VentureALAlpha EdisonBABackedHOHorizons VenturesJOJoyance Partners+7 more

Atlanta-based enterprise customer engagement platform that personalizes email, SMS and mobile campaigns directly from brands' own data warehouses.

Atlanta, US

Roger Barnette(Executive Officer, Director)Stanford Jones(Director)Alison Drummond(Director)Robert Jones(Director)Dan Roy(Director)Jonathan Hallett(Director)

Co-investorsATAtlantic Bridge VenturesDEDelta PartnersENEnterprise EquityIRIreland Strategic Investment FundTHThe Argentum GroupWEWestern Technology Investment+1 more

Mion provides Bitcoin payment processing infrastructure for merchants in Europe, offering fast Bitcoin-to-Euro conversions with regulatory compliance and proprietary node management technology to enable practical everyday merchant adoption.

Crypto & Web3FintechPrague, CZ

Co-investorsLELeo Capital Ventures

Netspeak Games is a remote-first games studio that develops social games.

GamingSocialLondon

Callum Brighting(Director)in

Co-investorsMAMakers FundPRProject A VenturesLALakestar

Palo Alto, US

Tony Jamous(Executive Officer)

Co-investorsTITitanium VenturesINIntel Capital

Ongage provides a data bridge platform that enables email marketers to move data seamlessly between different email marketing platforms.

Data & InfrastructureMarketing TechSaaS

Alec Dobbie(CEO and Co-Founder)ABAssaf Ben-Asher(CEO & Co-Founder)inOSOfer Shani(President & General Manager / Co-Founder)in

Finnish business information company offering a web-based service for finding public sector business opportunities across borders.

Co-investorsOPOpenOcean

Order of Meta is a game development studio made up of professional game creators focused on mid-core and hardcore genres.

GamingEspoo, FI

Alexey Kuzin(Founder)Aleksei Kuzin(Founder)Alexey Sazonov(Founder)Sergei Koziakov(Founder)

Co-investorsCRCrit VenturesPLPlay VenturesTHThe Games FundGEGEM CapitalKOKorea Investment Partners

Oyster is an employer of record (EOR) platform that lets companies hire, pay, and manage full-time employees and contractors in over 180 countries without setting up local entities, handling compliant onboarding, contracts, payroll, and benefits.

Future of WorkHR TechSaaSSan Francisco, US

AFAlly Fekaiki(CEO and Founder)TJTony Jamous(Founder)inJMJack Mardack(Founder)inHMHadi Moussa(CEO)inTony Jamous Jack Mardack(Founder)

Co-investorsACAcadian Ventures Management, LlcATAtento CapitalAVAvid VenturesEMEmergence Capital PartnersG2G2 Venture PartnersKIKima Ventures+5 more

Parallel Universe provides tools and infrastructure for writing correct software, focusing on the fundamental challenges of program correctness through computational theory.

Data & InfrastructureDeveloper ToolsEnterprise Software

RPRon Pressler(Founder)Dafna Presler(Co-Founder \u0026 CBO)

Co-investorsY Y Combinator

PayPerQ (PPQ) provides pay-per-use access to hundreds of text, image, video, and voice AI models from providers like OpenAI, Anthropic, Google, and Meta through a web app, an OpenAI-compatible API, and a desktop voice dictation tool.

AI & Machine LearningDeveloper ToolsSaaS

MAMatt Ahlborg(Founder)in

Peak develops neuroscience-based digital cognitive training tools to help users improve mental performance and cognition.

AI & Machine LearningDigital HealthGamingHealthtechWellness & Fitness

BoardBSBarbara Sahakian(Professor of Clinical Neuropsychology)

Co-investorsFIFirestartrLILifeline VenturesPEPeak XV Partners

Pok Pok makes digital toys and apps designed to encourage open-ended, creative play for children.

ConsumerEdTechGamingToronto

Ryan Cash(Executive Officer, Director)Jordan Rosenberg(Executive Officer)Esther Lisa Lucia Huybreghts(Director)Melissa Sarah Cash(Executive Officer, Director)

BoardNicolas Wittenborn(Director)JCJoshua Chapman(Director)in

Co-investorsADAdjacent V4BABanana CapitalBIBitkraft Esports VenturesKOKonvoy Ventures

Polystream builds a metaverse platform with interoperable virtual worlds that users can navigate seamlessly, enabling immersive games, interactive applications, and social experiences delivered instantly to communities globally.

ConsumerGamingSocial

Co-investorsINIntel CapitalLALauder PartnersLOLondon Venture Partners

Kiri is a pediatric health app that helps parents track and understand their child's patterns around sleep, feeding, symptoms, and development.

AI & Machine LearningConsumerDigital HealthHealthtech

Larry Tsai(Founder & CEO)inJordan Riggs(Co-Founder)in

Co-investorsBEBessemer Venture PartnersNENextEquity PartnersSWSwitch VenturesTOToba CapitalTRTriplePoint Capital

Quikkly provides an SDK and platform for creating custom scannable smart codes as an alternative to QR codes, letting brands add branded, secure scanning features to their apps.

Enterprise SoftwareMarketing TechSaaS

Rainforest QA is an AI-powered, no-code testing platform that automates quality assurance for software development teams.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US

FSFred Stevens-Smith(CEO)inRSRussell Smith(CTO)inJ.J. Chai(Founder)JJ Chai(Founder)JTJason Tan(Founder)inJoshua Silver(Founder)

Co-investorsY Y CombinatorBEBessemer Venture PartnersBOBonfire VenturesCRCrosslink CapitalFUFundersClubHEHeavybit+13 more

Resolution Games is a game studio that develops virtual and mixed reality games across platforms from PC to XR, with titles including Demeo, Racket Club, Blaston, and Spatial Ops.

ConsumerGamingStockholm, SE

CECarl-Arvid Ewerbring(Founder)inTPTommy Palm(Founder)inMartin Vilcans(Founder)Paul Brady(Founder)

Co-investorsBIBitkraft Esports VenturesBOBonnier CapitalCOColopl NextGVGV (Google Ventures)MIMizMaa VenturesNOnode.vc+8 more

saf. provides cross-border payment infrastructure for companies operating in Central America, enabling money transfers across the region via an API that uses digital assets and local banking rails.

Fintech

MAMario Aguiluz(Founder)in

Co-investorsCACarao VenturesHIHivemind Ventures, Llc

Sanlo provides monetization and payment infrastructure for game developers and publishers, including a D2C web shop builder, web checkout, and native Unity checkout to accept payments across web shops, web games, and alternative app stores.

E-commerceFintechGamingSaaS

Olya Caliujnaia(Founder)William Liu(Founder)

Co-investorsGFGFR FundINIndex VenturesCHChemistryFIFin CapitalGOGokul RajaramLOLondon Venture Partners+3 more

Satora offers a developer SDK for non-custodial atomic swaps between Bitcoin (including Lightning) and stablecoins such as USDC and USDT across major EVM chains.

Crypto & Web3Developer ToolsFintech

Shipsi provides fulfillment optimization software that transforms order delivery into a competitive advantage for retail brands.

Direct to ConsumerE-commerceLogistics & Supply ChainSaaSLos Angeles, US

Co-investorsCACapital Q® Ventures Inc.HAHalogen Ventures Management Company LlcMOMonte Carlo CapitalSUSupply Chain VenturesTETechstarsGAGaingels

Singa provides a karaoke streaming service accessible via computer, mobile devices, and smart TVs, offering a library of karaoke songs including original recordings.

ConsumerGamingMedia & Entertainment

Co-investorsINInvesdorSISisu Game VenturesSUSuperhero Capital

Supercell develops multiplayer mobile games including Clash of Clans, Brawl Stars, Clash Royale, and Squad Busters, designed for a global audience of players seeking long-term entertainment.

ConsumerGamingMedia & EntertainmentBoston, US

SHSimon Hade(Founder)John Earner(Founder)

BoardMichael Treskow(Director)

Co-investorsACAccelNONorthzoneLOLondon Venture Partners

Super Evil Megacorp develops and publishes multiplayer action games.

GamingSan Mateo, US

Robert J. Daly, Jr.(Executive Officer, Director)Kristian Segerstrale(Founder)inQingshuo Wang(Founder)inTommy Krul(Founder, Tech)inQ Wang(Founder, Design)IFIan Fielding(CEO)in

Co-investorsANAndreessen HorowitzCRCrosscut VenturesINIndex VenturesGEGeneral CatalystLOLondon Venture PartnersSISignia Venture Partners

Supercell develops mobile games including Clash of Clans, Clash Royale, Hay Day, Boom Beach, and Brawl Stars, designed for global audiences seeking engaging experiences on touch-based platforms.

ConsumerGamingHelsinki, FI

IPIlkka Paananen(Founder)inLassi Leppinen(Founder)Mikko Kodisoja(Founder)Niko Derome(Founder)Petri Styrman(Founder)Visa Forsten(Founder)

Co-investorsACAccelATAtomicoHUHundreds CapitalIVIVP (Institutional Venture Partners)LILifeline VenturesLOLondon Venture Partners+4 more

Digiday is a media publication covering the digital advertising, marketing, and media industries, producing news, briefings, podcasts, and research reports.

AdTechMarketing TechMedia & EntertainmentBrooklyn, US

Yonatan Raz-Fridman(Executive Officer, Director)Kenneth Lamb(Director)Pedro Romi(Executive Officer, Director)

Co-investorsSISilicon VenturesARAream & Co.GRGriffin Gaming PartnersLILightShed VenturesPOPowerhouse CapitalWAWarner Music Group

Supersolid is a mobile game studio that develops free-to-play simulation, merge, and .io titles across cooking, restaurant, life-sim, and multiplayer genres.

ConsumerGamingMedia & Entertainment

Co-investorsBOBoost Capital PartnersINIndex VenturesSWSwordfish Investments

Tenor operates a GIF search engine and GIF Keyboard app that lets users find and share animated GIFs and reaction images across messaging and social platforms.

ConsumerCreator EconomyMedia & EntertainmentSocial

DMDavid McIntosh(Cofounder and CEO)in

Co-investorsKYKyber Knight CapitalMEMenlo VenturesRERedpoint Ventures

Thndr Games develops mobile puzzle and card games, including Tetro Tiles (a tile-stacking puzzle game) and Club Bitcoin (a classic Solitaire game), where players can earn Bitcoin while playing.

ConsumerCrypto & Web3Gaming

Co-investorsBEBECO CapitalENEndeavor CatalystJIJIMCOPRProsus VenturesY Y Combinator

THNDR develops skill-based mobile games where match outcomes depend on player performance rather than chance, offering competitive head-to-head play with real prizes.

ConsumerGaming

Co-investorsLILightning VenturesFUFulgur Ventures

TinyBytes Games develops action games for mobile platforms with a focus on high-quality graphics and multiplayer gameplay.

ConsumerGamingSocial

Co-investorsLOLondon Venture Partners

Traplight is a game development studio that creates games with user-generated content (UGC) features, working on its own original IPs as well as titles built with high-profile brand partners.

Gaming

Co-investorsHEHeartcore CapitalEQEQT VenturesKOKorea Investment PartnersPLPlay VenturesSUSunstone Capital

A games studio that develops crime-themed gaming experiences across platforms, from mobile games to blockchain-based detective games.

ConsumerGamingMedia & Entertainment

Viker develops mobile games that integrate cryptocurrency rewards, allowing players to earn crypto while playing casual games.

Crypto & Web3Gaming

Co-investorsSWSwordfish Investments

ZBD is a payment service provider focused on the gaming industry, offering a single integration that gives developers compliant access to players across the US and EU.

Crypto & Web3FintechGaming

André Neves(Co-founder, CTO)inSimon Cowell(Co-founder, CEO)Ben Cousens(Chief Strategy Officer)Gordon Thornton(Chief Commercial Officer)David Wilford(Chief Legal & Compliance Officer)Travis Paluch(Chief Financial and Operating Officer)

Co-investorsLELemniscapRARaptor Group

ZBD is a payment service provider focused on disrupting payments in the gaming industry through globally compliant payment solutions.

Creator EconomyFintechGamingHoboken, US

SCSimon Cowell(Founder)inAndré Neves(Co-founder, CTO)inBen Cousens(Founder)Christian Moss(Founder)

BoardSMStephen McKeon(Director)inNicholas Brand(Director)

Co-investorsCOCollab+CurrencyFUFulgur VenturesTRTrammell Venture Partners (TVP)CACadenzaLALakestar

Zencargo is a digital freight forwarder whose AI-powered platform manages global supply chain operations, connecting orders, shipments, suppliers, carriers, and warehouses in one view with SKU-level tracking and predictive ETAs.

AI & Machine LearningLogistics & Supply ChainSaaSLondon, GB

AHAlex Hersham(Founder)inJan Riethmayer(Co-Founder)RFRichard Fattal(Co-Founder & CCO / Co-CEO)in

Co-investorsLOLocalGlobeLOLoric VenturesPIPICUS CAPITALSASamos InvestmentsYTYttrium