New York City · Seed–Growth · 27 people tracked
Find your way into Metastable
2,364 people in our graph share verified history with the Metastable team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Metastable is a long-running crypto investment fund, co-founded in 2014 by Naval Ravikant, that was an early investor in numerous blockchain protocols including Ethereum, Avalanche, Cosmos, Starkware, NEAR, Zcash, Filecoin, Dfinity, and Algorand. It has since been acquired by Dragonfly, which now operates Dragonfly Ventures, Dragonfly Liquid, and Metastable.
Source: firm website, verified Aug 7, 2026.
Team · 27 people
from the firm's website & curated
What they invest in
from 47 of 122 portfolio companiesCrypto & Web3 ×42Fintech ×23Data & Infrastructure ×18Developer Tools ×11AI & Machine Learning ×6Cloud Computing ×4Enterprise Software ×4Gaming ×3
HQs:United States×16United Arab Emirates×1Switzerland×1Hong Kong×1Israel×1Singapore×1
Who they back
founder profiles across 35 portfolio companiesFounding team size:solo founder×222 founders×103 founders×14+ founders×2
Where their founders studiedfrom 26 founders with education data
Massachusetts Institute of Technology ×4Cornell ×2Princeton University ×2The Hebrew University of Jerusalem ×2
What their founders studiedfrom 27 founders with field-of-study data
Computer Science ×18Engineering ×5Mathematics & Statistics ×4Business & Management ×2Finance & Accounting ×2
Where their founders worked beforefrom 31 founders with career history
ConsenSys ×2Docker ×2Getco LLC ×2Goldman Sachs ×2Starkware ×2Technion ×2Uber ×2
Accelerator rootsportfolio companies that came through a program
6 founders hold a PhD · 3 hold an MBA (of 28 with degree data)
Investments · 122 tracked
founders shown can be your intro pathBy year:2023 · 12022 · 12021 · 32020 · 12017 · 12015 · 18 dated
1inch is a decentralized finance (DeFi) platform for crypto users, offering token swaps through a DEX aggregator with intent-based and cross-chain functionality, MEV protection, and wallet security features.
Crypto & Web3Fintech
Sergej Kunz(Founder)in
Co-investorsBig Candle CapitalBlockchain CapitalBR CapitalDragonflyFabric VenturesFenbushi Capital+12 more
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Afriex provides a remittance service enabling immigrants to transfer money to over 25 countries at low costs with rapid settlement.
FintechSan Francisco, US
Tope Alabi(Founder)inJohn Obirije(Founder)in
Co-investorsAdaverseBrightstone Venture CapitalDragonflyFoundersOpen Opportunity FundPrecursor Ventures+4 more
Agoric builds secure infrastructure for a composable cross-chain crypto economy, along with products that automate fragmented crypto workflows.
Crypto & Web3Data & InfrastructureDeveloper ToolsFintech
Dean Tribble(Chief Executive Officer)inMark S. Miller(Chief Scientist)inMichael Jablon(Chief Operating Officer)in
Co-investorsAGE CryptoBollinger Investment GroupDanu VenturesFigmentMarin Digital VenturesRed Beard Ventures+11 more
Amber Group is a digital assets investment and portfolio management firm that serves institutional and individual investors with trading, liquidity provision, and infrastructure solutions for crypto and Web3 projects.
Crypto & Web3FintechSingapore, SG
Wayne Huo(Founder)Michael Wu(Co-Founder and CEO)
Co-investorsBase PartnersCoinbase VenturesDCM VenturesDigital Finance GroupDragonflyFenbushi Capital+5 more
Anchorage Digital is a global cryptocurrency platform providing institutions with custody, staking, trading, governance, and settlement services, along with security infrastructure.
Crypto & Web3Enterprise SoftwareFintechNew York, US
Diogo Mónica(Co-Founder and President)inNathan McCauley(CEO and Co-Founder)in
Co-investorsAndreessen HorowitzGICa16z cryptoAmplify PartnersBlockchain CapitalDelta Blockchain+14 more
Ancient8 is a gaming-focused Ethereum Layer 2 blockchain designed for Web3 gaming, hosting fully on-chain games, games on X and Telegram, IP-infused games, and AI-powered games.
Crypto & Web3Gaming
Howard Xu(Founder)Trung Nguyen(Founder & CEO)
Co-investorsAnimoca BrandsCoinbase VenturesIOSG VenturesK300 VenturesMakers FundPantera Capital+9 more
Animoca Brands invests in blockchain and digital asset projects across gaming, infrastructure, culture, and real-world asset categories, with a portfolio of 600+ companies and a focus on Web3 ecosystem development.
B2B MarketplacesCrypto & Web3GamingSector Agnostic
Yat Siu(Founder & CEO)Robby Yungin
Co-investors2080 Ventures500 GlobalA'Z AngelsAdit Ventures Management, LlcAlpha Wave GlobalAppWorks Ventures+37 more
ApeX Omni is a decentralized derivatives and spot trading platform built on a multichain, intent-centric architecture, offering perpetuals with up to 100x leverage, spot swaps, vaults, staking, and AI-driven trading insights.
Crypto & Web3Fintech
Co-investorsDragonflyTiger Global Management
Artemis is building an AI-driven investing platform that brings together proprietary data, market signals, and LLM-powered tools so retail and institutional investors can research and decide what to invest in across equities, crypto tokens, and private markets.
AI & Machine LearningCrypto & Web3Data & InfrastructureFintech
Anthony(Co-founder)
Co-investorsCoinFundDragonflyMirana VenturesWIND Ventures
Cosmos develops an open-source blockchain technology stack and enterprise solutions for businesses and governments to deploy and scale digital ledgers.
Crypto & Web3Enterprise SoftwareFintechNew York City, US
Hunter Rosenblume(Chief Executive Officer, President, Treasurer and Secretary)Saie Rohith Varanasi(Chief Technology Officer)
Co-investors1confirmationBig Candle CapitalBollinger Investment GroupContinue CapitalDeepTech VenturesDigital Finance Group+10 more
Axelar is a blockchain interoperability network that connects institutions to onchain ecosystems through a single integration, letting them deploy stablecoins, real-world assets, and funds across 80+ blockchains.
Crypto & Web3Data & InfrastructureFintechWaterloo
Sergey Gorbunov(Executive Officer, Director)inGeorgios Vlachos(Director)in
Co-investorsAndromeda CapitalBitDAOCoinbase VenturesCollab+CurrencyDCVC (Data Collective)Divergence+12 more
BENQI is a decentralized finance protocol on the Avalanche blockchain offering liquid staking of AVAX (via sAVAX), lending and borrowing of crypto assets, and tools for bootstrapping validators.
Crypto & Web3Fintech
JD Gagnon(Founder)
Co-investorsArrington CapitalAscensive AssetsBorderless VentureDragonflyGenblock CapitalKane & Rao Group+5 more
bloXroute provides a blockchain distribution network offering real-time data streams, transaction propagation, and validator solutions to enable faster trading and MEV optimization across multiple blockchains.
Crypto & Web3Data & InfrastructureEvanston, US
Uri Klarman(Executive Officer, Director)inAleksandar Kuzmanovic(Executive Officer, Director)in
BoardJeffrey Bussgang(Director)in
Co-investors1confirmationBixin CapitalBixin VenturesBlindspot Ventures Management CoCoinbase VenturesDragonfly+10 more
Blur is an NFT marketplace enabling faster trading with zero marketplace fees and native cryptocurrency rewards through a community-driven token system.
Crypto & Web3Marketplaces
Co-investorsCollab+CurrencyDragonflyHivemind Capital PartnersNarcissus VenturesParadigmStandard Crypto
Ben Zhou(Founder)in
Co-investorsDragonflyFenbushi CapitalHack VCMoonhill CapitalStreamlined Ventures
Caldera provides a rollup engine that lets apps and communities launch customizable, purpose-built blockchains that settle on Ethereum, along with Metalayer for cross-chain connectivity and shared liquidity.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investors1k(x)1kxAlliance DAO (ex DeFi Alliance)DragonflyLattice CapitalMH Ventures+3 more
Coin Metrics provides market and on-chain data, reference rates, and indexes for crypto and digital assets, delivered to institutional investment teams via APIs.
Crypto & Web3Data & InfrastructureFintechBoston, US
BoardMathew S. McDermott(Director)Sean Judge(Director)inMatt Scott Walsh(Director)inNic Carter(Executive Officer, Director)inBob Davis(Director)in
Co-investorsAcrew CapitalCoinbase VenturesCollab+CurrencyCommunitas Capital PartnersDigital Currency GroupDragonfly+3 more
Consensys builds a vertically integrated platform for decentralized finance, offering consumer wallet applications, developer infrastructure, blockchain APIs, and protocol-level software that manage the full onchain transaction lifecycle.
Crypto & Web3Data & InfrastructureDeveloper ToolsFintechFort Worth, US
Joseph Lubin(Founder & CEO)in
Co-investorsArcane GroupArgonautic VenturesBR CapitalCoinbase VenturesDragonflyDVC+19 more
Cozy provides modular on-chain risk protection for DeFi protocols, offering tools like yield tranches, asset reserves, and market-based protection contracts to cover risks such as bad debt, hacks, and exploits.
Crypto & Web3FintechInsurTechSeattle, US
Tony Sheng(Director)inPayom Dousti(Executive Officer, Director)
Co-investorsCoinbase VenturesDragonflyElectric CapitalVariant FundRobot VenturesSlow Ventures+1 more
Overland Park, US
Randall Wasinger(Executive Officer, Director)Randy Wasinger(Founder)in
Co-investorsalphabet angelsDragonflyGobi PartnersKCRise FundRed Beard VenturesSora Ventures+8 more
China-based crypto wallet and DeFi portfolio tracker covering hundreds of protocols across multiple blockchains.
Tang Hongbo(Founder)in
Co-investorsCoinbase VenturesDragonflyFenbushi CapitalIOSG VenturesSignum CapitalYoubi Capital+4 more
DerivaDEX is a decentralized cryptocurrency derivatives exchange offering a real-time price feed, fast trade resolution, and a competitive fee structure.
Crypto & Web3Fintech
Co-investorsCoinbase VenturesDragonflyElectric Capital
Dragonfly is a crypto-focused investment firm comprising Dragonfly Ventures, Dragonfly Liquid, and Metastable (an acquired crypto hedge fund), which invests in blockchain and digital asset companies.
Crypto & Web3
Co-investorsMirana VenturesDreamcraftInnovate UKPortfolio Ventures
Crypto data platform letting users query indexed blockchain data with SQL and publish shareable dashboards.
Mats Olsen(Founder)in
Co-investorsCoatue ManagementDragonflyRedpoint VenturesUnion Square Ventures (USV)Wonder VenturesFabric Ventures+2 more
dYdX is a decentralized exchange for trading perpetuals that uses zero-knowledge proofs to provide security and privacy.
Crypto & Web3FintechSan Francisco, US
Antonio Juliano(Founder)inIvo Crnkovic-Rubsamen(CEO)in
Co-investors1confirmationa16z cryptoAbstract VenturesAndreessen HorowitzBR CapitalDeFiance Capital+8 more
EigenCloud is a developer platform providing cryptographic trust primitives for applications and AI agents through verifiable computation, inference, and data availability backed by slashable stake on EigenLayer.
AI & Machine LearningCrypto & Web3Developer Tools
Sreeram Kannan(Founder)in
Co-investorsa16z cryptoAndreessen HorowitzBitDAOBixin CapitalBixin VenturesBloccelerate VC+20 more
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 CapitalDragonflyEthereal Ventures Management Ltd.Fabric VenturesFaction+12 more
Galxe is a platform that unifies identity, engagement, and automation for web3 projects seeking authentic user growth and community engagement.
AI & Machine LearningCloud ComputingCrypto & Web3Marketing TechSaaSSector Agnostic
Charles Wayn(Founder)
Co-investorsBitDAOCoinbase VenturesDragonflyDraper DragonFermionIOSG Ventures+5 more
Gauntlet is a team focused on financial systems research and analysis, with expertise in quantitative analysis, smart contracts, and blockchain infrastructure.
Crypto & Web3Data & InfrastructureFintechDallas, US
Rei Chiang(Executive Officer)in
BoardTarun Chitra(Executive Officer, Director)in
Co-investorsDragonflyHack VCParadigmAglae VenturesIA VenturesRobot Ventures+1 more
Gelato provides smart wallet and rollup infrastructure, enabling developers to launch gasless onboarding, smart wallets, and custom rollups through a single SDK.
Cloud ComputingCrypto & Web3Developer Tools
Hilmar Maximilian Orth(Founder)in
Co-investorsBloccelerate VCBootNodeD1 VenturesHack VCIDEO CoLab VenturesIOSG Ventures+3 more
Cryptocurrency exchange protocol bridging centralized and decentralized finance.
Varun Kumar(Founder & CEO)Vinod Raghavan(Founder)inVictor Ionescu(Founder)in
Co-investorsArrington CapitalBollinger Investment GroupCoinbase VenturesDragonflyElectric CapitalFabric Ventures+16 more
InfStones provides blockchain infrastructure and node management solutions for Web3 applications, enabling developers to build, scale, and maintain decentralized applications.
Cloud ComputingCrypto & Web3Data & Infrastructure
Dr. Zhenwu Shi(Founder)Sili Zhao(Global Director of Business)in
Co-investorsNotable CapitalSoftBank GroupDragonflyQiming Venture PartnersSoftBank Vision FundDHVC+5 more
Lido is a liquid staking protocol for Ethereum that allows users to stake ETH and earn rewards while maintaining liquidity through the stETH token.
Crypto & Web3Fintech
Vasily Shapovalov(Founder)
Co-investorsa16z cryptoAegis VentuesAndreessen HorowitzBR CapitalCoinFundDeepTech Ventures+16 more
Matter Labs builds Prividium, an Ethereum-secured blockchain platform designed for banks and financial institutions to issue, settle, and manage digital assets with privacy and compliance controls.
Crypto & Web3Enterprise SoftwareFintechGeorge Town, Grand Cayman
Alex Gluchowski(Executive Officer, Director)inAleksandr Vlasov(Director)
BoardChristopher Burniske(Director)in
Co-investors1k(x)1kxa16z cryptoAndreessen HorowitzBlockchain CapitalCoinFund+9 more
Metatheory develops games for players seeking depth and quality gameplay, and is expanding into AI-driven software tools for creators.
AI & Machine LearningCreator EconomyGamingGalveston, US
Kevin M. Lin(Executive Officer, Director)inAdam Bao(Executive Officer)inJames Thomas Gleason(Executive Officer)David Barthwell(Executive Officer)in
Co-investorsAndreessen HorowitzBitkraft Esports VenturesBreyer CapitalDragonflyLifelike CapitalPantera Capital+4 more
Monad is a high-performance EVM-compatible blockchain designed for fast, low-cost transactions.
Cloud ComputingCrypto & Web3Data & Infrastructure
Co-investorsAlphaLab CapitalAmbush CapitalArchetypeBankless VenturesBig Brain HoldingsBloccelerate VC+23 more
NEAR Foundation is a Swiss nonprofit foundation (Stiftung) that supports the NEAR ecosystem, a decentralized blockchain platform for building decentralized applications.
Crypto & Web3Data & InfrastructureDeveloper ToolsImpact & Social GoodZug, CH
Chris DonovanBowen WangMona Elisa(Director)Erik Trautman(Executive Officer)Richard Mortimer Muirhead(Director)
BoardIllia Polosukhin(Director)in
Co-investorsCerulean VenturesDragonflySID Venture Partners
Oasis Labs develops privacy-preserving data analytics and AI tools using differential privacy, homomorphic encryption, and zero-knowledge proofs for organizations that need to analyze sensitive data while protecting individual privacy.
AI & Machine LearningCybersecurityData & InfrastructureDeveloper ToolsPalo Alto, US
Dawn Song(Founder & CEO)inBobby Jaros(Executive Officer)Noah JohnsonRaymond Cheng
Co-investors1k(x)1kx500 GlobalAmino CapitalAndreessen HorowitzAngelONE Capital+19 more
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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
Orderly Network provides omnichain infrastructure for launching perpetuals decentralized exchanges (perp DEXs) on any blockchain, offering a shared orderbook and liquidity accessible via SDK or white-label.
Crypto & Web3Data & InfrastructureDeveloper Tools
Ran Yi(Founder)in
Co-investorsD1 VenturesDragonflyGate VenturesIOSG VenturesMentha PartnersPantera Capital+9 more
Paradigm is a technology investment firm that backs founders across stages in areas including cryptocurrency, artificial intelligence, robotics, and other frontier technologies.
AI & Machine LearningCrypto & Web3Data & InfrastructureRobotics
Matt Huang(Co-Founder & Managing Partner)in
Co-investorsBalaji Srinivasan
Parcl provides daily real estate market signals, ownership data, and tools for analyzing how housing markets move, including a portfolio-search tool for finding single-family rental portfolios and data/resolution services for housing-related prediction markets.
Data & InfrastructureFintechPropTechNew York City, US
Jason Lewris(Founder)in
Co-investorsArchetypeCoinbase VenturesDragonflyHack VCLAB VenturesParaFi Capital+4 more
Party is a decentralized protocol that enables groups to coordinate onchain through collective wallet functionality, including token launches, crowdfunding, NFT memberships, and group chat capabilities.
Crypto & Web3
Co-investorsCompoundDragonflya16z cryptoAndreessen Horowitz
Perpl is a fully on-chain decentralized exchange for perpetual futures trading, offering leveraged Bitcoin trading via a central limit order book (CLOB) built on the Monad blockchain.
Crypto & Web3Fintech
Co-investorsDragonflyBreedBreed VCHashkey CapitalL1 DigitalMirana Ventures
PleasrDAO is a decentralized collective that acquires and preserves culturally significant digital assets, including NFTs and artifacts of internet history, using blockchain technology to enable community ownership.
Crypto & Web3Social
Co-investorsa16z cryptoAndreessen HorowitzDivergenceDragonflyParaFi CapitalStandard Crypto+2 more
Polymarket is a prediction market platform where users trade contracts based on the outcomes of future events across politics, sports, economics, and other categories.
Crypto & Web3FintechMarketplaces
Shayne Coplan(Founder & CEO)in
Co-investors1confirmationA.Capital VenturesAbstract VenturesAccess Ventures (New York)Advaita CapitalAnti+19 more
Quantstamp provides smart contract and blockchain security audits and verification services for Web3 and Web2 projects.
Crypto & Web3CybersecurityEnterprise SoftwareSan Francisco, US
Richard Ma(Founder/CEO)inSteven Stewart(Executive Officer, Director)in
Co-investorsBloccelerate VCDragonflyFifty YearsLegalTechManhattan Venture PartnersMetaplanet+9 more
DoubleZero operates a network that delivers raw market data feeds over dedicated fiber links contributed by independent operators, bypassing public internet latency for trading firms, validators, and platforms.
Crypto & Web3Data & InfrastructureFintechGeorge Town
BoardOLIVER BELL(Director)
Co-investorsCrucible CapitalDragonflyGSRMH VenturesMulticoin CapitalPaper Ventures+3 more
Gaming studio building a AAA first-person extraction shooter
Ken Rosman(CEO)in
Co-investorsBixin CapitalBixin VenturesCVP NoLimitDragonflyNo Limit Holdings (NLH)Raptor Group+7 more
StarkWare develops zero-knowledge proof and validity rollup solutions for blockchain applications, enabling secure, scalable, and trustless transactions.
Crypto & Web3Deep TechDeveloper ToolsNetanya, IL
Eli Ben-Sasson(Co-Founder, CEO)inUri Kolodny(Co-founder, Board Member)inAlessandro Chiesa(Co-Founder)inMichael Riabzev(Chief Architect)inAvihu Levy(Head of Product & Blockchain Research)inOren Katz(VP Engineering)in
Co-investorsBalaji SrinivasanBollinger Investment GroupChapter OneCoatue ManagementCoinbase VenturesCollab+Currency+14 more
TRLab is an online shop offering design-led, artist-designed gifts, home objects, and everyday essentials organized by occasion, recipient, and interest.
ConsumerDirect to ConsumerE-commerce
Audrey Ou(Cofounder)in
Co-investorsDragonflyHivemind Capital PartnersOlive Capital
UMA operates the Optimistic Oracle, a blockchain protocol that verifies natural-language statements and real-world data through a system of proposed statements, dispute periods, and tokenholder voting.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investorsCollab+CurrencyDragonflyIOSG Ventures
Utorg provides a crypto wallet and payment platform that enables users to access and spend cryptocurrency globally.
Crypto & Web3FintechSaaSAbu Dhabi, AE
Co-investorsDragonflyTA Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AevoAgoraAlliance DAOAndrenaAptosARCxArtemisAugustAuroraAvailAvalancheBITBitgetCeloCodexCommonCommonwareCompound LabsConduitContextCrusoeDomination FinanceDrakulaEthenaEthlasEveryrealmExoFantasy TopFlorida StreetFraxGalactic HoldingsGoldskyHibachiHopscotchInternet GameInversionKaitoLighterMakerDAOMedallionMegaEthMegapotMeshMetaPoolMorphMyPrizeNexusOptimismOra LabsPolygonProdiaRainRenegadeRhythmicRoutemeshSaffronSanctumSipherSlingshot DAOSolendSynFuturesTakerThesisTwo CentsVariationalVelocityYeetZA BankZAR
Portfolio news
latest coverage across their companies
Dragonfly · startupmag.co.uk · Aug 17, 2026
Caldera · biospace.com · Jul 29, 2026
Monad · crypto-economy.com · Jul 17, 2026
ATOM · investing.com · Jul 17, 2026
dYdX · bcointalk.com · Jul 17, 2026
Gauntlet · fintech.global · Jul 14, 2026
Anchorage · cryptobriefing.com · Jul 14, 2026
Paradigm · briefs.co · Jul 9, 2026
Frequently asked questions
- How many investments has Metastable made?
- Metastable has 122 tracked investments.
- What stage does Metastable invest at?
- Metastable invests at the Seed, Series A, Series B, Growth stages.
- What is Metastable's typical check size?
- Metastable typically writes checks of $3M – $30M.
- What sectors does Metastable focus on?
- Metastable focuses on Crypto & Web3.
- Where is Metastable located?
- Metastable is headquartered in New York City, US.
- Who does Metastable co-invest with?
- Metastable most often shares deals with Dragonfly, IOSG Ventures, Coinbase Ventures, among 245 tracked co-investors.
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