What stage does Multicoin Capital invest at?

Multicoin Capital invests at the Seed, Series A, Series B, Series C, Growth stages.

What is Multicoin Capital's typical check size?

Multicoin Capital typically writes checks of $1M – $50M.

What sectors does Multicoin Capital focus on?

Multicoin Capital focuses on AI & Machine Learning, Crypto & Web3, Data & Infrastructure, Fintech.

Where is Multicoin Capital located?

Multicoin Capital is headquartered in Austin, US.

Does Multicoin Capital lead rounds?

Yes, Multicoin Capital leads investment rounds.

Multicoin Capital

Venture capital

Austin · Seed–Growth · 19 people tracked

Also known as MULTICOIN CAPITAL MANAGEMENT, LLC

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✨ Fox Verdict

Investment thesis

Multicoin Capital invests in crypto- and blockchain-related projects and companies. The firm manages pooled investment vehicles including a hedge fund and takes positions in both tokens and equity. It welcomes pitches from teams building in the crypto and blockchain space, noting that a warm introduction can help qualify prospective founders more quickly.

Invests inAI & Machine Learning Crypto & Web3 Data & Infrastructure FintechAustinGlobal

Source: firm website, verified Aug 7, 2026.

Stage

Seed–Growth

Check

$1M – $50M

Austin, Texas, US

Leads rounds

Leads

Instruments

Equity

Founded

2017

AUM

$2.7B

Tracked investments

Team · 19 people

from the firm's website & public directories

Kyle Samani· Managing Partner· Austin, Texasin 𝕏

Author of the announcement and a leader of the firm's partnership.

k•••@multicoin.capitalreveal

Brian Smith· Partner, CFO and COO· Austin, Texasin

Leads finance and operations with over 22 years of experience in public and private equity, investment banking, and corporate finance. Previously worked at Tiger Management, Fox Paine & Co., Greenhill & Co., and Bazaarvoice, and chairs the investment committee of TSERS.

b•••@multicoin.capitalreveal

Greg Xethalis· Partner, General Counsel· New York City Metropolitan Areain 𝕏

Partner and General Counsel managing legal and policy functions. Previously a partner in the Investment Management and FinTech practices at Chapman and Cutler LLP, and serves as a director of the Blockchain Association and DeFi Education Foundation.

g•••@multicoin.capitalreveal

John Robert· Partner, Head of Marketing and Communicationsin 𝕏

Known as 'JR', leads global marketing and communications with nearly 20 years in venture capital, specializing in go-to-market strategy, PR, and branding. Previously a founding member and Senior Director at Jones-Dilworth, Inc.

j•••@multicoin.capitalreveal

John Robert Reed· Partner· Austin, Texasin 𝕏

Co-authored a related Multicoin investment announcement about the TipLink seed round.

j•••@multicoin.capitalreveal

Mable Jiang· Partner· Chinain 𝕏

Mable Jiang serves as Chief Revenue Officer at FSL Ecosystem. Her background includes work in technology strategy and industry research, with a focus on Web 3.0 technology and consumer products. She has experience in cross-cultural communications and interdisciplinary work.

Matt· Partner, Head of Investor Relations· New York, New York, United Statesin 𝕏

Leads investor relations and capital formation and is a senior member of the investment team. Previously a Vice President in the investment banking group at Teneo, and holds a degree in Finance and International Business from the University of Maryland.

m•••@multicoin.capitalreveal

Shayon Sengupta· Investment Partner· Austin, Texasin 𝕏

Promoted to Investment Partner after three years on Multicoin's investment team; leads deals across public and private crypto markets and supports portfolio founders.

s•••@multicoin.capitalreveal

Spencer Applebaum· Investment Partner· Dallas, Texasin 𝕏

Promoted to Investment Partner after five years on Multicoin's investment team; sources and leads deals in both public and private crypto markets and works closely with founders.

s•••@multicoin.capitalreveal

Vishal Kankani· Principal· New York, New Yorkin 𝕏

Kankani served as Principal at Multicoin Capital from April 2021, where he invested in private and public crypto markets, including management of a multi-billion dollar portfolio employing long and long/short strategies in tokens and crypto equities. Prior to that role, he spent nearly eight years at Deutsche Bank structuring, pricing, and selling complex equity derivatives and quantitative investment strategies to institutional clients. His background includes expertise in options, derivatives, and fixed income.

v•••@multicoin.capitalreveal

Aleksija Vujicic· Associate· New York, New Yorkin 𝕏

Brian Strugats· Head Trader

Head Trader who previously served as Head of Trading at FalconX and held leadership positions at Glenhill Capital, XN, Balantrove, and Fortress.

Daniel Leonardo· Chief Compliance Officer, Deputy General Counsel· Miami-Fort Lauderdale Areain 𝕏

Chief Compliance Officer and Deputy General Counsel. Previously an attorney in the SEC's Division of Examinations, including as Senior Counsel in the Private Funds Unit, and consulted at ACA Compliance Group.

d•••@multicoin.capitalreveal

Eli Qian· Investment Analyst

Analyst on the investment team. Previously on the venture team at BlockTower Capital investing in early-stage web3 startups, and earlier worked on social network startup Plexus.

Jay Stolkin· Deputy General Counsel· Denver

Deputy General Counsel based in Denver. Previously General Counsel at another digital asset-focused fund manager and in private practice at O'Melveny and Myers and Paul Hastings; also an Adjunct Professor at the University of Denver Sturm College of Law.

Jody Goehring· Investor· Austin, Texasin 𝕏

Sebastian Zhou· New York, New Yorkin 𝕏

Sebastian Zhou is an investor at Alpha Square Group focusing on early-stage and growth-stage opportunities in AI, infrastructure software, and B2B SaaS. He also selectively manages a fund-of-funds practice investing in venture funds. Zhou is a Boston College graduate.

Tushar Jain· Co-Founder and Managing Partner· Austin, Texasin 𝕏

Co-founder and Managing Partner leading portfolio construction, risk management, and trading, focusing on DeFi, token economics, and blockchain go-to-market. Previously founded health IT startup ePatientFinder (acquired by Elligo Health Research) and holds degrees in Finance and Political Science from NYU.

t•••@multicoin.capitalreveal

Wills Reardon· Director of Capital Formation & Investor Relations

Director of Capital Formation & Investor Relations. Previously Head of Capital Formation at Galaxy Asset Management and a Partner on a Private Wealth Management team at Morgan Stanley.

What they invest in

from 28 of 48 portfolio companies

Crypto & Web3 ×18Fintech ×17AI & Machine Learning ×3Marketplaces ×3Consumer ×2Data & Infrastructure ×2Developer Tools ×2AdTech ×1

HQs:United States×9Paraguay×1

Investments · 48 tracked

founders shown can be your intro path

Forward Industriesforwardindustries.comin 𝕏NASDAQ: FWDI✓ verified

Forward Industries (NASDAQ: FWDI) is a Solana-focused digital asset treasury company that buys, holds, stakes, trades, and invests in SOL and Solana-related assets, protocols, and businesses.

Crypto & Web3FintechNew York, US

Kyle Samani(Chairman of the Board)Mike Pruitt(Interim Chief Executive Officer & Director)Mark Brazier(Chief Financial Officer)Georgia Quinn(General Counsel)Ryan Navi(Chief Investment Officer)Garrison Yang(CMO & Head of IR)

Coinbasecoinbase.comin 𝕏NASDAQ: COIN

Coinbase is a cryptocurrency exchange platform that offers trading, custody, and financial services for cryptocurrencies, stocks, derivatives, and prediction markets to consumers, institutions, and developers.

Crypto & Web3FintechLos Angeles, US

Brian Armstrong(Founder/CEO)in

Aave DeFi Seedaave.comin 𝕏

Altitudesquads.xyz𝕏

Squads builds financial services infrastructure on open platforms and internet capital markets, serving businesses, individuals, and developers.

Crypto & Web3Fintech

BAXUSbaxus.coin 𝕏

BAXUS is a peer-to-peer marketplace where collectors can buy, sell, and trade fine and rare spirits without auctions or time constraints.

Marketplaces

Cheddrcheddr.xyz

Crunch Daocrunchdao.comin 𝕏

DFlowdflow.net

Dialectdialect.toin 𝕏

Dialect provides infrastructure for Web3 user experiences, offering Blinks (embedded blockchain transactions) and Alerts (onchain notifications) that integrate directly into digital platforms without redirects.

Crypto & Web3Developer ToolsEnterprise SoftwareNew York City, US

Chris Osborn(Founder)in

Driftdrift.trade𝕏

Drift is a decentralized trading platform on Solana that allows users to trade perpetual futures and spot markets with leverage up to 101x, earn yield on deposits, and access credit solutions.

Crypto & Web3Fintech

El Doradoeldorado.ioin 𝕏

El Dorado provides a USD-denominated card issued in the US for use internationally, serving non-US residents.

Fintech

Ethena

Issuer of USDe, a synthetic dollar; Multicoin's liquid fund invested in its native token ENA.

FastLanefastlane.xyz𝕏

FastLane provides a maximal extractable value (MEV) protocol and liquid staking token (shMON) for the Monad blockchain, enabling validators and token holders to capture transaction ordering fees and staking rewards.

Crypto & Web3

Filebasefilebase.com

Boston, US

Zachary Cohen(Director)Joshua Noble(Executive Officer, Director)

PartnerKyle Samani· led

Fun.XYZ Marketplace falsefun.xyzin 𝕏

Fun provides blockchain payment infrastructure and transaction orchestration for crypto and decentralized finance applications, enabling deposits, withdrawals, and multi-method checkout flows across 100+ countries.

Crypto & Web3Fintech

Fuse Energyfuseenergy.comin 𝕏

Fuse Energy is a platform that helps consumers manage their energy consumption and costs by switching suppliers, optimizing EV charging, managing smart home devices, and tracking solar/battery performance while earning rewards.

ConsumerEnergySaaS

Fuse Walletfusewallet.com𝕏

Fuse is a personal finance app that enables users to save, trade, and spend stablecoins and Solana tokens through self-custodial smart accounts.

Crypto & Web3Fintech

Geodnetgeodnet.comin 𝕏

Glifglif.appin 𝕏

Glif orchestrates multiple AI tools to generate short-form videos, product shoots, and ad campaigns.

AdTechAI & Machine LearningCreator Economy

Gradientgradient.network

Helium

Hivemapper Smarter mappinghivemapper.com𝕏

Hivemapper is a decentralized mapping network built on Solana that enables contributors to map the world in real time using cameras and apps while earning rewards through a token-based incentive system.

Crypto & Web3Data & Infrastructure

Ariel Seidman(Founder)

IO.Net Accessible, cheap compute AIio.net

Jitojito.network𝕏

Jito optimizes transaction execution and MEV (maximal extractable value) rewards on the Solana blockchain network.

Crypto & Web3

Kalshikalshi.comin 𝕏

Kalshi operates a federally regulated futures exchange that allows users to trade contracts based on the outcomes of real-world events, creating a new market for event-based financial derivatives.

FintechNew York City, US

Luana Lopes Lara(Founder)inTarek Mansour(Founder)in

BoardAlfred Lin(Director)Michael Seibel(Director)Matt Huang(Director)

Kaminokamino.com

Kamino is a Solana-based DeFi protocol that provides lending, liquidity, and leverage services for cryptocurrency assets.

Crypto & Web3Fintech

LiFili.fiin 𝕏

Lighterlighter.xyz𝕏

Lighter is a zero-knowledge rollup built on Ethereum that enables high-speed, low-cost onchain trading through cryptographic proofs of order matching and liquidations.

Crypto & Web3FintechCambridge, US

Vladimir Novakovski(Founder & CEO)Susan E Vitka(Director)Alexis Fox(Executive Officer, Director)Lisa Feria(Director)Micah Risk(Executive Officer)Ronald Pastore(Executive Officer, Director)

Mezomezo.ioin 𝕏

Mezo provided an AI intake assistant called MAX that enables property maintenance request handling through voice calls, allowing residents to submit requests and check work order status without staff intervention.

AI & Machine LearningPropTech

Mezomezo.org𝕏

Mezo is a Bitcoin-backed lending and yield platform that allows users to borrow stablecoins (MUSD) using Bitcoin as collateral and earn yield through managed vault strategies.

Crypto & Web3Fintech

Matt Luongo(Founder & CEO)

Morpho Labsmorpho.orgin 𝕏

Morpho is a decentralized lending protocol that provides enterprise-grade infrastructure for launching lending products.

Crypto & Web3Fintech

Paul Frambot(Founder & CEO)in

Multicoin Capitalmulticoin.capital𝕏

Multicoin Capital is a thesis-driven investment firm that manages hedge and venture funds investing in cryptoassets, tokens, and blockchain companies.

Crypto & Web3Fintech

Tushar Jain(Co-Founder and Managing Partner)in

Novignovig.comin 𝕏

Novig operates a sports prediction market where users can trade on sporting outcomes without paying commissions.

ConsumerFintechGamingMarketplacesNew York City, US

Jacob Fortinsky(Founder)inKelechi Ukah(Founder)in

Novignovig.usin 𝕏

Novig is a sports prediction and trading platform designed for traders that prioritizes transparent odds and user experience without excluding profitable users.

MarketplacesSports Tech

P2Pp2p.me𝕏

P2P.me is a decentralized peer-to-peer protocol that enables fast fiat-to-USDC swaps across multiple blockchains using zero-knowledge KYC for privacy.

Crypto & Web3Fintech

Paxospaxos.comin 𝕏

Paxos is a digital asset infrastructure company that issues stablecoins backed by fiat currency and commodities, and provides crypto-as-a-service capabilities including brokerage, custody, and payments infrastructure.

Crypto & Web3Fintech

Phantomphantom.comin 𝕏

Phenixfhenix.io𝕏

Pipe Networkpipe.network𝕏

Pipe Network provides cloud infrastructure built specifically for AI workloads.

AI & Machine LearningCloud ComputingDeep Tech

Renderrendernetwork.comin 𝕏

Robinhoodrobinhood.comin 𝕏

Robinhood is a financial trading platform that enables users to manage portfolios across stocks, ETFs, cryptocurrencies, options, futures, and prediction markets.

Fintech

Vlad Tenev(CEO)in

Solana

High-performance public blockchain, originally called Loom and pitched as 'Blockchain at NASDAQ Speed.'

Tablelandtableland.xyz𝕏

Tableland is an open-source, decentralized cloud database built on SQLite that enables applications, data pipelines, and smart contracts to read and write tamper-proof data across EVM blockchains.

Crypto & Web3Data & InfrastructureDeveloper Tools

Tìm hiểu thêmhyperliquid.xyz

TipLink

Crypto product whose $6M seed round Multicoin co-led with Sequoia.

Triumphtriumpharcade.com

Yieldyield.xyz

Chicago, US

Allan Niemerg(Executive Officer, Director)Daniel Robinson(Director)

Zamazama.orgin 𝕏

Frequently asked questions

What stage does Multicoin Capital invest at?: Multicoin Capital invests at the Seed, Series A, Series B, Series C, Growth stages.
What is Multicoin Capital's typical check size?: Multicoin Capital typically writes checks of $1M – $50M.
What sectors does Multicoin Capital focus on?: Multicoin Capital focuses on AI & Machine Learning, Crypto & Web3, Data & Infrastructure, Fintech.
Where is Multicoin Capital located?: Multicoin Capital is headquartered in Austin, US.
Does Multicoin Capital lead rounds?: Yes, Multicoin Capital leads investment rounds.

From the blog

visit blog ↗

Multicoin has recently published deep analysis on Hyperliquid's exchange platform and valuation, discussed leadership promotions within the firm, and examined how real-world assets will reshape decentralized finance through blockchain settlement and tokenization. AI summary

Hyperliquid (HYPE) Analysis & ValuationJun 2026Multicoin presents a valuation analysis of Hyperliquid, a layer-1 blockchain and DEX that controlled over 59% of DeFi perp open interest and generated $873 million in revenue in 2025.Investing for the Long HaulMar 2026Multicoin announces the promotion of Spencer Applebaum and Shayon Sengupta to General Partner and Co-Heads of Venture.RWAs Are Just Built DifferentMar 2026Multicoin argues that real-world assets will drive the next wave of DeFi growth, requiring different market structures than crypto-native assets and explaining key variables affecting onchain RWA adoption.

Media · Podcasts & interviews

featuring the team

Breakpoint 2025: The Solana Constitution: Multicoin Capital (Tushar Jain), Jito (Nick Almond)

Solana · Tushar Jain

Tushar Jain: Multicoin Capital – Investing in DePIN and the Future of Compute (#6)

Fluence · Tushar Jain

Kyle Samani & Tushar Jain: Multicoin Capital – An Update From the Thesis-Driven Investment Firm #441

Epicenter Podcast · Tushar Jain

Multicoin Capital — Tushar Jain, Managing Parter — Thesis-Driven Cryptocurrency Hedge Fund Investing

Finding Genius Podcast · Tushar Jain

Kyle Samani and Tushar Jain, Co-Founders of Multicoin Capital: Managing Risk Better Than Traditional

Finding Genius Podcast · Tushar Jain

Images

Co-investors · 65

Andreessen Horowitz

Andreessen Horowitz's Strategic Partnerships page describes collaborations that connect its portfolio companies with established institutions to help scale and deploy their technology.

Both backed · 6

Coinbase Glif Jito Kalshi Lighter Robinhood

$500K – $50M

Solana Ventures

Solana Ventures is an investment firm that backs teams building on the Solana blockchain to accelerate innovation and drive onchain adoption.

Both backed · 6

Altitude Dialect Hivemapper Smarter mapping Jito Pipe NetworkPhantom

$10K – $250K

Pantera Capital

Pantera Capital is a blockchain and cryptocurrency-focused investment firm that pioneered early crypto funds in the U.S., offering exposure through venture equity, early-stage tokens, and liquid tokens.

Both backed · 5

Coinbase Hivemapper Smarter mapping Mezo Morpho Labs Novig

$5M – $100M

Union Square Ventures (USV)

Union Square Ventures is a venture capital firm based in New York City that invests in companies at the edge of large markets being transformed by technological and societal pressures.

Both backed · 2

Coinbase Multicoin Capital

$1M – $20M

Ribbit Capital

Ribbit Capital is a venture firm that partners with founders challenging incumbents across industries including AI, global commerce, infrastructure, wealth management, money movement, identity, data, and energy, with a particular emphasis on brand-building.

Both backed · 2

Lighter Morpho Labs

$100K – $15M

Hack VC

Hack VC is a thesis-driven venture capital firm that partners with founders at the earliest stages building next-generation Internet technologies across crypto, AI, and other frontier areas.

Both backed · 2

MezoIO.Net Accessible, cheap compute AI

$3M

Haun Ventures

Haun Ventures backs founders building the future of finance, investing from seed to scale in teams applying decentralized technology to reshape the global economy.

Both backed · 2

Altitude Lighter

$1M – $100M

Variant Fund

Variant is a venture capital firm investing in technology that expands user autonomy through greater access, knowledge, and ownership, focusing on new markets, infrastructure, and applications.

Both backed · 2

Morpho LabsPhantom

$250K – $750K

Asymmetric

Asymmetric is an early-stage venture capital firm focused on web3 and crypto companies and protocols, from DeFi to mobile, offering investment opportunities tied to the digital transformation of society through a global macro and technological lens.

Both backed · 2

Dialect Mezo

$10K – $1M

A.Capital Ventures

A.Capital Ventures is an early-stage venture firm that provides funding, network access, and hands-on support to entrepreneurs building forward-thinking technology companies.

Both backed · 2

Coinbase Tableland

Sequoia Capital

Sequoia Capital is a venture capital firm that partners with founders to build technology companies, with a strong current focus on artificial intelligence.

Both backed · 1

Kalshi

$4.4M – $214M

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.

Both backed · 1

Coinbase

$100K – $200M

▶53 more co-investors

New Enterprise Associates (NEA)FJ Labs South Park Commons Abstract Winklevoss Capital CoinFund Greenoaks Anti Framework Ventures Signum Capital GV (Google Ventures)Khosla Ventures Foundation Capital Kraken True Ventures DST Global Tiger Global Management Goat Capital FirstMark Stellar Capital Ulu Ventures Trajectory Ventures 2048 Ventures BAM Ventures M13 Awesome People Ventures Decibel Partners Dragonfly Galaxy Digital Assets Fund Polygon Accelerator Ventures CrunchFund Seed Club Ventures Conviction Canary Divergence LCX Conversion Capital Verified Capital Ambush Capital Archetype SID Venture Partners Alchemy Ventures VOLT CAPITAL Ethereal Ventures Management Ltd.Hashed Gemini Israel Ventures Gnosis DAO Republic Capital (ex Republic Labs)FounderPartners Haymaker Ventures Reciprocal Ventures Level Ventures

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

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