Fundraising Fox

L2 Iterative Ventures (L2IV)

Venture capital

San Francisco Β· Seed Β· 7 people tracked

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Investment thesis

L2IV invests in the frontier of Web3 and blockchain innovation, with particular expertise in zero-knowledge proof systems and multi-dimensional Web3 infrastructure. As the specialized arm of L2 Capital Management, the firm positions itself as a hands-on, technically-savvy partner rather than a passive capital provider, aiming to support founders from early ideas through global scale. It combines world-class investors, crypto-native technologists, and entrepreneurs, and maintains a presence spanning East and West to help portfolio companies achieve global reach in building a decentralized future.

Source: firm website, verified Aug 3, 2026.

Stage
Seed
HQ
San Francisco, US
Instruments
Equity
Tracked investments
31

Team Β· 7 people

from the firm's website
Sunga Sophie KimΒ· Partner

Founder mafia

2 people who came through L2 Iterative Ventures (L2IV) went on to found or lead other companies.

What they invest in

from 9 of 31 portfolio companies

Crypto & Web3 Γ—9AI & Machine Learning Γ—3Data & Infrastructure Γ—3Developer Tools Γ—3Cybersecurity Γ—2Fintech Γ—2Cloud Computing Γ—1Deep Tech Γ—1

HQs:United StatesΓ—1

Investments Β· 31 tracked

founders shown can be your intro path
Aori
Arciumarcium.com𝕏

Arcium operates a decentralized network for confidential computing that uses Secure Multi-Party Computation (MPC) to execute computations without exposing input data.

AI & Machine LearningCrypto & Web3Cybersecurity

Yannik Schrade(Founder)in

Co-investorsCoinbase VenturesLongHash VenturesSMAPE CapitalGreenfield

Babylonbabylonlabs.ioin𝕏

Babylon Labs develops trustless infrastructure that enables Bitcoin to be used as collateral in decentralized finance and through a Bitcoin staking protocol for blockchain validation.

Crypto & Web3

Fisher Yu(Founder)

Co-investorsa16z cryptoAlumni VenturesAndreessen HorowitzBasecamp FundCastle Island VenturesHack VC+3 more

EigenCloudeigencloud.xyz𝕏

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 CapitalEthereal Ventures Management Ltd.LemniscapRR2 Capitala16z cryptoAndreessen Horowitz

Epoch Protocol
Fastlane
Fiamma
GAIB
Inverter
LEVR
Liquorice
Lorenzo
Luban
Monadmonad.xyzin𝕏

Monad is a high-performance EVM-compatible blockchain designed for fast, low-cost transactions.

Cloud ComputingCrypto & Web3Data & Infrastructure

Keone Hon(Founder & CEO)in

Co-investorsAlphaLab CapitalAmbush CapitalArchetypeBankless VenturesBig Brain HoldingsBloccelerate VC+23 more

Nubitnubit.org

Co-investorsProtagonistSymbolic Capital

OneBalanceonebalance.ioin𝕏

OneBalance provides a unified interface that lets applications give their users access to digital assets and opportunities across multiple blockchains.

Crypto & Web3Developer ToolsFintech

Daniel Worsley(Chief Operating Officer)

Co-investorsBlockchain CapitalBreedMirana VenturesWintermute

Ormi
Polyhedrapolyhedra.network

Polyhedra Network builds blockchain infrastructure for AI applications, including EXPchain, a chain for verifiability, data security, and performance of AI systems, and the ZKJ token for gas and governance.

AI & Machine LearningCrypto & Web3Data & Infrastructure

Co-investorsArcane GroupLongHash VenturesMapleblock CapitalPuzzle VenturesRR2 CapitalSignum Capital+7 more

Renzorenzoprotocol.com𝕏

Renzo Protocol provides liquid staking and restaking infrastructure along with reserve vaults that deploy capital into delta-neutral, RWA-backed, and basis/carry trade strategies.

Crypto & Web3Fintech

Co-investorsBankless VenturesBitDAOCrypto DiscoverEdessa CapitalFigmentIOSG Ventures+5 more

RISC Zerorisczero.com𝕏Mar 2022

RISC Zero provides verifiable computation technology that lets anyone cryptographically confirm a computation's output is correct without recomputing it, while preserving privacy.

Crypto & Web3CybersecurityDeep TechSeattle, US

Frank Laub(Executive Officer, Director)inBrian Retford(Executive Officer, Director)Jeremy Bruestle(Executive Officer, Director)

Co-investorsBain Capital CryptoBlockchain CapitalD1 VenturesFenbushi CapitalFigmentMaven 11+3 more

Rome
Spire
Suisui.ioin𝕏

The Sui Foundation is an independent organization that supports and grows the Sui blockchain ecosystem, working to lower technical and financial barriers for developers building on Sui and to drive broader adoption.

Crypto & Web3Data & InfrastructureDeveloper Tools

Evan Cheng(Founder)in

Co-investorsBixin CapitalBixin VenturesCoinbase VenturesCrypto DiscoverCVP NoLimitElectric Capital+6 more

Taiko

Decentralized Ethereum-equivalent ZK-rollup aiming to scale Ethereum while maintaining security and decentralization

Co-investorsMapleblock CapitalSancus Ventures

Tradoor
Turtle.Club Monetization layer
Votre
Yala
zkPass

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has L2 Iterative Ventures (L2IV) made?
L2 Iterative Ventures (L2IV) has 31 tracked investments.
What stage does L2 Iterative Ventures (L2IV) invest at?
L2 Iterative Ventures (L2IV) invests at the Seed stage.
What sectors does L2 Iterative Ventures (L2IV) focus on?
L2 Iterative Ventures (L2IV) focuses on AI & Machine Learning, Crypto & Web3, Data & Infrastructure.
Where is L2 Iterative Ventures (L2IV) located?
L2 Iterative Ventures (L2IV) is headquartered in San Francisco, US.
Who does L2 Iterative Ventures (L2IV) co-invest with?
L2 Iterative Ventures (L2IV) most often shares deals with Bankless Ventures, Coinbase Ventures, Electric Capital, among 66 tracked co-investors.

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