Fundraising FoxMorningstar Ventures
Venture capitalDubai · Pre-Seed–Seed · 1 people tracked
Also known as Morningstar
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Investment thesis
Morningstar Ventures invests in and builds crypto and blockchain projects. Beyond providing capital, the firm positions itself as an active builder, having launched multiple subsidiaries spanning a Web3 physical space and headquarters (37xDubai), a consulting firm (MSV Studio), a software platform (Atlas Technologies), and a gaming guild (MSV GG). The team combines expertise across technology, marketing, growth strategy, design, and UI/UX, and regularly hosts Web3-focused events to connect crypto enthusiasts, investors, and builders. It describes itself as a young, dynamic, entrepreneurial team distributed across more than ten countries.
Source: firm website, verified Sep 20, 2026.
Team · 1 people
from the firm's website
What they invest in
from 31 of 56 portfolio companiesCrypto & Web3 ×24Data & Infrastructure ×11Fintech ×11Developer Tools ×6AI & Machine Learning ×5Gaming ×4SaaS ×3Consumer ×2
HQs:United States×8Belgium×1Liechtenstein×1Netherlands×1Sweden×1
Who they back
founder profiles across 16 portfolio companiesFounding team size:solo founder×72 founders×53 founders×4
Where their founders studiedfrom 12 founders with education data
Anna University ×2Stanford University ×2
What their founders studiedfrom 15 founders with field-of-study data
Computer Science ×9Economics ×2Engineering ×2
Investments · 56 tracked
founders shown can be your intro pathBy year:2024 · 82022 · 82021 · 122011 · 129 dated
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)Thuat Nguyen(Founder)William Phan(Founder)
Co-investorsAnimoca BrandsCoinbase VenturesDragonflyExtra WattsImpossible FinanceIOSG Ventures+25 more
Ardana is a decentralized finance (DeFi) project on the Cardana blockchain offering a US Dollar-pegged, collateral-backed stablecoin and related primitives such as borrowing against locked collateral and stablecoin swaps.
Crypto & Web3Fintech
Ryan Matovu(Founder)in
Co-investorsTenzor CapitalAscensive AssetscFundFMFWKronos ResearchMechanism Capital+2 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(Founder)inGeorgios Vlachos(Founder)in
Co-investorsAndromeda CapitalBitDAOCoinbase VenturesCollab+CurrencyDCVC (Data Collective)Divergence+19 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+6 more
Biconomy provides developer tools and APIs that handle transaction infrastructure for blockchain applications.
Aniket Jindal(Founder)in
Co-investorsBitDAOBorderless VentureCoinbase VenturesCoinFundCreative Destruction Lab (CDL)D11-Labs+29 more
German-founded Web3 company providing AI-based NFT analytics and blockchain data services, with a native BCUT token.
Vijay Pravin Maharajan(Founder)inSaravanan Jaichandaran(Founder)in
Co-investorsBorderless VentureCoinbase VenturesDWeb3 CapitalGravityX CapitalMapleblock CapitalMulana Capital+6 more
Blockchain Space Asia operates a community platform called YEY that engages Web3 gaming guilds, music fandoms, content creators, and fan communities across gaming, music, art, anime, lifestyle, TV, and sports through gamification and reward features.
Creator EconomyCrypto & Web3Gaming
Co-investorsArca FundsAlameda ResearchAnimoca BrandsBlocktower CapitalCrypto com Capital
BLOCKLORDS, a blockchain medieval strategy game by MetaKing Studios, has evolved into BLOCKLORE, a node-based AI creative canvas.
David Johansson(Founder & CEO)
Co-investors2 Punks CapitalAscensive AssetsBCA InvestmentsBitkraft Esports VenturesCogitent VenturesHTX Ventures (ex Huobi Ventures)+7 more
Romanian Web3 infrastructure company providing multichain blockchain node APIs and validator services; acquired by Alchemy in 2024.
Flavian Manea(Founder)inAlexandru Catalin Filip(Founder)in
Co-investorsAscensive AssetsWoodstock FundAVentures DAOAxia8 VenturesBlizzardFigment+7 more
Chainflip is a decentralized cross-chain swap network that settles trades natively across chains including Bitcoin, Ethereum, Solana, and Polkadot without bridges or wrapped assets.
Crypto & Web3Data & InfrastructureFintech
Co-investorsAlliance DAO (ex DeFi Alliance)Blockchain CapitalCoinbase VenturesHypersphere VenturesMaven 11Pantera Capital+1 more
Ellevest is a women-founded, women-led SEC-registered investment advisor offering wealth management and financial planning services designed for women and their families.
FemTechFintechImpact & Social Good
Sallie Krawcheck(Founder)inCharlie Kroll(Founder)
Co-investorsAloft VCAltra VentureAlumni VenturesAmplifica CapitalAstiaCleo Capital+25 more
Embed provides embedded payment infrastructure for EV charging platforms, supporting AFIR-compliant AC and DC charging with kiosk POS and QR payment flows, European payment methods like Vipps and Twint, and account top-ups in eMSP apps.
Data & InfrastructureEnergyFintechMobility & TransportationSaaS
Alexander Schoonkind(Founder)in
Co-investorsAlephKindred CapitalDistributed GlobalNIV
Epic (formerly Ethernity) operates a crypto-based travel booking platform offering discounted hotels and flights worldwide, with cashback in XRP and concierge access for holders of its EPIC token.
Crypto & Web3Travel & Hospitality
Co-investorsGFT VenturesWoodstock FundZestZillionize
Folius Ventures is a venture capital firm that invests in, promotes, and helps build Web3 projects, with a focus on founders in the Asia-Pacific region and the Chinese-speaking community.
Crypto & Web3New York, US
Chau Kam(Managing Member of the Issuer.)Mapleleafcap(Founder)Brian Chan(CFO / COO)
Co-investorsAdaverseMarin Digital VenturesMirana Ventures6th Man VenturesAlameda ResearchAlliance DAO (ex DeFi Alliance)+8 more
Ukrainian-German game studio behind battle royale shooter Off The Grid and the GUNZ blockchain platform.
Alexander Zoll(Founder)inVlad Korolev(Founder)Vlad Korolov(Founder)
Co-investors1k(x)1kxAndromeda CapitalCoinFundDigital StrategiesGamegroove Capital+19 more
Cryptocurrency exchange protocol bridging centralized and decentralized finance.
Varun Kumar(Founder & CEO)Vinod Raghavan(Founder)inVictor Ionescu(Founder)in
Co-investorsArrington CapitalBlockchain CoinvestorsBollinger Investment GroupCoinbase VenturesDragonflyElectric Capital+20 more
Injective is a blockchain built specifically for finance, providing infrastructure for onchain trading, tokenization, and payments with embedded primitives such as stablecoins, real-world assets, and programmable derivatives.
Crypto & Web3Data & InfrastructureFintechDublin, US
Albert Chon(Founder)inChen(Co-founder)Eric Chen(Founder)inZhonghan Chen(Executive Officer, Director, Promoter)
Co-investorsAU21 CapitalCogitent VenturesFigmentInnovating CapitalPantera CapitalPNYX Ventures+3 more
Itheum is building trust layers and trust frameworks positioned as public-good infrastructure, aimed at making the definition of what and who can be trusted auditable and community-governed.
AI & Machine LearningCrypto & Web3Data & Infrastructure
Co-investorsEGLD GGWoodstock FundZBS CAPITALAscensive AssetsMechanism CapitalMHC Digital Finance+1 more
Jambo builds low-cost Web3 smartphones, a multi-chain wallet and dApp store aimed at emerging-market users.
James Zhang(Founder)inAlice Zhang(Founder)
Co-investorsAsymmetricEdessa CapitalFlori VenturesHypersphere VenturesPantera CapitalParadigm+13 more
Kasu is a real-world-asset lending protocol channelling DeFi capital in USDC into private credit originated by TradFi lenders.
Co-investorsPurechain CapitalWoodstock FundAndromeda CapitalAsteroid CapitalCypher CapitalFaculty Group+2 more
KIP Protocol is a decentralized base layer for AI models, apps, and data owners to transact and monetize their work in Web3, giving creators ownership and a share of AI-driven economic value.
AI & Machine LearningCrypto & Web3Developer Tools
Co-investorsPurechain CapitalCSP DAOFomocraft VenturesFoundership VenturesGBV CapitalK300 Ventures+5 more
Moralis is a Stockholm-founded onchain data platform providing Web3 APIs, real-time streams and enterprise blockchain indexing.
Crypto & Web3Data & InfrastructureDeveloper ToolsStockholm, SE
Ivan Liljeqvist(Founder)inFilip Martinsson(Founder)
Co-investorsBitDAOCoinbase VenturesFabric VenturesMantle NetworkWoodstock FundDispersion Capital+1 more
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MultiversX operates the EGLD blockchain network, a sharded proof-of-stake distributed ledger with a WASM-based virtual machine for building decentralized applications and smart contracts.
Crypto & Web3Data & InfrastructureDeveloper ToolsVaduz, LI
Adrian Dobrita(Founder)inLucian Mincu(Founder)inBeniamin Mincu(Founder)in
PartnerDanilo S. Carlucci· solo GP
Co-investorsBlock54 CapitalBrilliance VenturesElliptiExtra WattsHyperchain CapitalMapleblock Capital+4 more
Mystiko is a zero-knowledge (ZK) infrastructure and protocol project, providing whitepapers, documentation, compliance tools, and an explorer around its $XZK token and community governance.
Crypto & Web3Data & InfrastructureDeep Tech
Co-investorsD1 VenturesDutch Crypto InvestorsCoinListMirana VenturesPeak XV PartnersSamsung Next+2 more
NAOS Finance is a blockchain lending protocol connecting DeFi lenders with SME borrowers using tokenized real-world assets.
Co-investorsCoinbase VenturesSora VenturesYoubi CapitalAU21 CapitalCollider VenturesCrypto com Capital+11 more
NGRAVE builds self-custody security products for cryptocurrency holders to protect and control their digital assets.
Crypto & Web3CybersecurityHardwareZonhoven, BE
Ruben Merre(Co-founder)in
Co-investorsimec.istartTaisu VenturesWoodstock Fund
Nomina provides infrastructure for onchain markets, offering a programmable interface for global 24/7 trading accessible to all users.
Crypto & Web3Data & InfrastructureFintech
Tyler Tarsi(Co-Founder and CTO)in
Co-investorsCoinbase VenturesOIG Capital (Oracles Investment Group)PICUS CAPITALStifel Venture Banking
Ojamu is a Web3 B2B platform that uses AI and machine learning to give brands automated marketing solutions, insights, and real-time blockchain data recommendations across NFT, blockchain gaming, and metaverse ecosystems.
AI & Machine LearningCrypto & Web3Marketing Tech
Co-investorsTransform VenturesAscensive AssetsChain CapitalMaster VenturesMoonrock CapitalProtocol Ventures+3 more
Velora is an intent-based decentralized trading protocol that offers crosschain token swaps, gasless trades, limit orders, on-chain RFQ, and yield optimization, aggregating liquidity from 160+ protocols and market makers across multiple L1 and L2 chains.
Crypto & Web3Developer ToolsFintech
Co-investorsArrington CapitalBlack DragonBlockchain CapitalBlockchain CoinvestorsBootNodeExtra Watts+12 more
Particle is a news application.
AI & Machine LearningMedia & EntertainmentSan Rafael, US
Marcel Molina(Co-founder & CTO)inSara Beykpour(Co-founder & CEO)inWill Hart(Founder)Zach Supalla(Founder)Zachary Crockett(Founder)
Co-investorsAdverb VenturesKindred VenturesLightspeed Venture PartnersAlibaba GroupCanvas VenturesCounterpart Ventures+11 more
Particle is a personal care brand that creates skincare products formulated specifically for men, offering straightforward solutions without unnecessary marketing complexity at accessible prices.
ConsumerDirect to ConsumerWellness & Fitness
Ayal Ebertin
Co-investorsFearless DTC Growth FundAdverb VenturesAlibaba GroupCanvas VenturesEnergy Impact PartnersFlow Traders+9 more
Particle Network provides developer infrastructure for onchain applications, including Universal Accounts that let users access dApps with assets from any blockchain without bridging, account abstraction for gas sponsorship and removing signature popups, and social logins for one-click onboarding.
Crypto & Web3Data & InfrastructureDeveloper Tools
Pengyu Wang(Founder)in
Co-investorsAlphaLab CapitalArcane GroupBitDAOBloccelerate VCCaladanFOMO Ventures+12 more
PingPong is a messaging app designed to reduce distraction and support focused work for remote teams.
Enterprise SoftwareFuture of WorkSaaSAustin, US
Co-investorsOpen Opportunity FundTSVC
No-code launch platform for Solana ecosystem projects seeking capital and rapid development.
Co-investorsGenblock CapitalKane & Rao GroupYoubi CapitalAscensive AssetsDivergenceMoonrock Capital
STEPN is a Web3 lifestyle app that rewards users for physical movement, letting people equipped with in-app NFT sneakers earn tokens by walking, jogging, and running outdoors.
Crypto & Web3GamingWellness & Fitness
Jerry H.(Founder)in
PartnerDanilo S. Carlucci· solo GP
Co-investorsArchangel VenturesAssembly PartnersEmooteFermionGraviton FundLemniscap+5 more
Saudi-based provider of online ordering, delivery-management and marketing software for restaurants.
Co-investorsDelta BlockchainDigital Currency Group500 GlobalElectric CapitalTHE LAO
Telegram is a cross-platform messaging application with encrypted, self-destructing messages, multi-device sync, and large group chats.
ConsumerMedia & EntertainmentSocial
PartnerDanilo S. Carlucci· solo GP
Co-investorsAfford.CapitalAlphabit FundAngelONE CapitalArchetypeArrington CapitalBitDAO+48 more
Give is a technology-first Donor-Advised Fund platform that helps wealth advisors, broker-dealers, and asset managers offer charitable giving solutions to clients.
AI & Machine LearningEnterprise SoftwareFintechSaaSBoulder, US
Dr. Vinay Nair(Founder & CEO)Brian Carlin(Director)Rajini Kodialam(Director)
Co-investorsMotive PartnersFranklin TempletonHamilton LaneJP Morgan ChaseFINTOP CapitalThirdstream Partners+2 more
Gaming / NFT / metaverse project
Co-investorsCryptonite CapitalGeekCartelAnimoca BrandsIDG CapitalKuCoin LabsManta Network+1 more
UNKJD (formerly MonkeyLeague) is a blockchain esports game studio behind Striker League, a turn-based NFT soccer game.
Co-investorsGriffin Gaming PartnersLongHash VenturesNFXZBS CAPITAL
XDEFI, rebranding to Ctrl, offers a self-custody crypto wallet available as a Chrome extension and iOS/Android apps.
Crypto & Web3
Emile Dubié(Founder)in
Co-investorsCircle VenturesExtra WattsGenblock CapitalJustin “3LAU” BlauPlay VenturesRyze Labs+6 more
XLD Finance operates X, an EVM-based blockchain built on the OP Stack for commercial payment applications, using its native stablecoin xUSD to enable cross-border payments and settlement between digital assets and traditional finance.
Crypto & Web3Fintech
Co-investorsDigital Currency GroupIntegra PartnersMentha PartnersAdvance AICircle & Co.Emfarsis+6 more
YCharts is a financial research and client engagement software company serving financial advisors, RIAs, asset managers, banks and trust companies, and individual investors.
Chicago, US
Shawn Carpenter(President; Chief Executive Officer; Secretary; Treasurer)inNicholas Kocinski(Secretary)
BoardKapil Chaudhary(Director)Jeremy Diamond(Director)Brian Hand(Director)R. H. Bailin(Director)
Co-investorsArba LLCLLRAmicus Capital PartnersHyde Park Angels
YGG Play is a publisher of casual games built on blockchain technology, connecting game studios with players and communities in the cryptocurrency gaming space.
Crypto & Web3Gaming
Gabby Dizon(Founder)inBeryl Li(Founder)
Co-investorsA.Capital Venturesa16z cryptoAndreessen HorowitzAscensive AssetsAtelierBitkraft Esports Ventures+19 more
ZeroLend was a multi-chain, non-custodial DeFi lending protocol focused on Ethereum layer 2 networks.
Co-investorsAndromeda CapitalFounderheads,Mapleblock CapitalStakez CapitalWWVenturesConsenSys+1 more
zkLink builds a ZK-based Aggregated Layer 3 and rollup infrastructure for Ethereum Layer 2s, letting developers deploy EVM and trading-specific zkVM applications with synchronized state across chains and access to pooled liquidity.
Crypto & Web3Data & InfrastructureDeveloper Tools
Vince Yang(Founder)
Co-investorsArrington CapitalAscensive AssetsBitDAOD11-LabsHTX Ventures (ex Huobi Ventures)Illuminati Capital+6 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
ApeironCovalentCross the AgesFusionistHumans AIMeriaMerkle TradeSonicStratos TechnologiesXION
Portfolio news
latest coverage across their companiesFrequently asked questions
- How many investments has Morningstar Ventures made?
- Morningstar Ventures has 56 tracked investments, 1 of which have exited.
- What stage does Morningstar Ventures invest at?
- Morningstar Ventures invests at the Pre-Seed, Seed stages.
- What sectors does Morningstar Ventures focus on?
- Morningstar Ventures focuses on AI & Machine Learning, Crypto & Web3, Data & Infrastructure, Gaming.
- Where is Morningstar Ventures located?
- Morningstar Ventures is headquartered in Dubai, AE.
- Does Morningstar Ventures lead rounds?
- Morningstar Ventures has led 6 of the 34 rounds where its role is on record.
- Who does Morningstar Ventures co-invest with?
- Morningstar Ventures most often shares deals with Coinbase Ventures, Woodstock Fund, BitDAO, among 139 tracked co-investors.
Media · Podcasts & interviews
featuring the teamMorningstar Ventures Keynote - Danilo S. Carlucci (X Day Paris - #Day2)
MultiversX · Danilo S. Carlucci
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