Fundraising Fox

Nascent

Crossover fund

San Francisco · Pre-Seed–Series A · 5 people tracked

Find your way into Nascent

2,532 people in our graph share verified history with the Nascent team — schools, employers, funds. One of them is your warm intro.

Tom Hulmeunlockedknows Dan Elitzer · together at IDEO (overlapped)
×7knows the team · via MIT Sloan School of Management
×2knows the team · via UCLA
knows the team · via RS Investments
knows the team · via Strategy& (formerly Booz & Company)
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Investment thesis

Nascent focuses on open markets and permissionless technology within the crypto ecosystem. The firm positions itself as a deep user and builder of crypto infrastructure, aiming to build, expand, and capture opportunity in these markets. It deploys capital across both venture investments and liquid token strategies, reflecting a hybrid approach to crypto exposure. Nascent seeks to connect with builders working on projects that can make a positive impact in the crypto space.

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed–Series A
HQ
San Francisco, CA, US
Instruments
Equity
Last 12 months
1 investment
Tracked investments
100

Team · 5 people

from the firm's website & curated

What they invest in

from 44 of 100 portfolio companies

Crypto & Web3 ×42Fintech ×23Data & Infrastructure ×11Developer Tools ×6AI & Machine Learning ×4Creator Economy ×4Cybersecurity ×4Enterprise Software ×3

HQs:United States×16Switzerland×1United Kingdom×1British Virgin Islands×1

Who they back

founder profiles across 33 portfolio companies
61%
solo founders
20 of 33 mapped founding teams
67%
repeat founders
of 36 founders with career history

Founding team size:solo founder×202 founders×43 founders×74+ founders×2

Where their founders studiedfrom 31 founders with education data

Stanford University Graduate School of Business ×2UCLA ×2

Where their founders worked beforefrom 36 founders with career history

Coinbase ×5Citi ×2Compound Labs ×2ConsenSys ×2Google ×2

2 founders hold a PhD · 2 hold an MBA (of 33 with degree data) · backed the same founder in 2+ companies: 2 founders

Investments · 100 tracked

founders shown can be your intro path

By year:2026 · 12025 · 12022 · 24 dated

0x Labs Decentralized P2P trading0x.orgin𝕏crypto exchanges: ZRX

0x provides onchain routing and liquidity aggregation infrastructure for enterprise wallets, payments platforms, and exchanges.

Crypto & Web3Data & InfrastructureFintechSan Francisco, US

Will Warren(Co-Founder & Co-CEO)inAmir Bandeali(Co-Founder & Co-CEO (formerly Co-Founder & CTO))inAlex Q. Xu(Co-Founder)inFulvia Morales(Director of Product (previously Group Product Manager))Stuart Law(Head of Operations)inTheo Gonella(Group Product Manager)in

Co-investorsA.Capital VenturesArchetypeBitDAOBlockchain CapitalBlockchain.com VenturesCoinbase Ventures+14 more

0x Labs
Aevoaevo.xyz𝕏

Aevo is a decentralized options and perpetual futures exchange that combines off-chain matching with on-chain settlement on a custom Ethereum Layer 2, offering traders options, perpetual futures, and structured products within a single margin account.

Crypto & Web3Fintech

Co-investorsAlliance DAO (ex DeFi Alliance)Coinbase VenturesDragonfly

Ajnaajna.finance𝕏

Ajna is a decentralized protocol for peer-to-peer secured lending and borrowing of on-chain assets, operating without governance or external price feeds.

Crypto & Web3Fintech

Co-investorsHash3 CapitalKraynos Capital

Alchemix

DeFi self-paying loan protocol

Co-investorsYunt Capital

Alchemix Self-repaying loansalchemix.fi

Co-investorsLvna Capital

Aletheaalethea.cominOct 2022

Alethea provides Artemis, an AI-powered risk management platform that detects and contextualizes information manipulation, coordinated influence operations, and online disinformation threats.

AI & Machine LearningCybersecurityEnterprise SoftwareSaaSWashington, US

Lisa Kaplan(Founder & CEO)Fiona Taylor(Executive Officer)in

BoardTed Schlein(Director)inCarl Smith, Jr.(Director)

Co-investorsBallistic VenturesBitkraft Esports VenturesGV (Google Ventures)Hakluyt CapitalOwl CapitalRiverbend Capital

Alethea On-chain AI agentsalethea.aiin𝕏

Alethea AI builds at the intersection of artificial intelligence and blockchain, introducing intelligent NFTs (iNFTs) and working on decentralized, user-owned AI systems and autonomous agents.

AI & Machine LearningCreator EconomyCrypto & Web3Marketing Tech

Arif Khan(Founder)in

Co-investorsD1 VenturesFuture Perfect VenturesGhaf Capital PartnersMulticoin CapitalRed Beard VenturesChapter One+2 more

Alliance DAO

Web3 accelerator and founder community

Co-investorsDragonflyKindred VenturesMetastable

Alliance Labsalliance.xyzin𝕏

Alliance is a selective accelerator and founder community for crypto and AI startups, providing $1M in funding, a 10-week program (in-person in New York City plus remote), mentorship, and connections to investors to help startups reach product-market fit.

AI & Machine LearningCrypto & Web3New York City, US

Imran ..(Founder)in

Co-investorsFounders FundAdaverseCoinbase VenturesCoinFundKindred VenturesMulticoin Capital+8 more

Alluvial

Enterprise liquid Ethereum staking

Co-investorsEthereal Ventures Management Ltd.

Alluvial Financealluvial.financeAcquired

Staking software developer behind the enterprise liquid staking protocol Liquid Collective, acquired by Galaxy Digital in December 2025.

Chicago, US

Matthew R. Leisinger(Executive Officer, Director)Mara Schmiedt(Executive Officer, Director)Evan Weiss(Executive Officer)

BoardMin Teo(Director)

Co-investorsAmbush CapitalCoinbase VenturesF-Prime CapitalFenbushi CapitalFigmentVariant Fund

Aztecaztec.network𝕏

Aztec is a Layer 2 blockchain network on Ethereum that enables programmable privacy for decentralized applications through client-side zero-knowledge proofs and a dual state architecture.

Crypto & Web3CybersecurityDeveloper ToolsLondon, GB

ZacThomas Pocock(Founding CEO)inZachary Williamson(Founding CTO & Current CEO)inArnaud Schenk(Cofounder)inJoe Andrews(Cofounder & Head of Product)in

Co-investorsA.Capital Venturesa16z cryptoAndreessen HorowitzCoinbase VenturesConsenSys MeshEntrepreneur First+8 more

Balancerbalancer.fi

Fernando Martinelli(Founder)in

Co-investorsBlockchain CapitalContinue CapitalDivergenceFenbushi CapitalLongHash VenturesPantera Capital+1 more

Balancer Decentralized Asset Management Protocolbalancer.exchange

Fernando Martinelli(Founder)in

Co-investorsPantera Capital

Bitwavebitwave.ioin𝕏

Bitwave provides an enterprise-grade stablecoin payments platform for B2B transactions, enabling near-instant settlement with low fees through integration with accounting systems like NetSuite and QuickBooks.

Crypto & Web3Enterprise SoftwareFintech

Pat WhiteAmy Kalnoki

Co-investorsArca FundsBlockchain CapitalPalsar VenturesUnanimous CapitalBlocktower Capital

Blinkblink.cash
Blink Cash

Deposit Stablecoins in a blink.

Cabal

Incentive and liquidity hub on Initia

Clipperclipper.exchange

Clipper is a decentralized exchange (DEX) offering concentrated liquidity pools for cryptocurrency trading, designed to protect liquidity providers from impermanent loss, MEV bots, and sandwich attacks.

Crypto & Web3Fintech

Co-investorsBitDAOBollinger Investment GroupMantle Network

Code4rena
Code4rena Decentralized audit competitionscode4rena.com𝕏Defunct

Code4rena was a platform that organized security audits and bug bounties for decentralized finance projects, connecting security researchers with blockchain development teams.

Crypto & Web3Cybersecurity

Co-investors1k(x)1kxParadigm

Coin98 Multichain crypto walletcoin98.app𝕏
Commonwealthcommonwealth.im

Commonwealth (commonwealth.im) is a DAO coordination platform; the sources supplied contain no verifiable information about it.

Co-investorsCanaan PartnersCoinbase VenturesIOSG VenturesBreakthrough Energy VenturesFuture VenturesGalaxy Interactive+9 more

Commonwealth
Definitivedefinitive.fi𝕏

Definitive builds a non-custodial execution layer and trading infrastructure for crypto, serving traders and developers across DeFi.

Crypto & Web3Data & InfrastructureFintechLos Angeles, US

Dennis Qian(Co-Founder)inJai Prasad(Co-Founder)inBlake Arnold(Co-Founder)in

Co-investorsCoinbase VenturesGeometryRobot VenturesFlowdeskBlackRock

Divine ResearchApr 2025

San Francisco, US

Diego Ignacio Estevez Lopez(Executive Officer, Director, Promoter)Juan Manuel Estevez Lopez(Executive Officer, Director, Promoter)

Co-investorsParadigm

Divine Research Under-collateralized credit systemdivine.inc𝕏

Divine develops an unsecured lending platform using stablecoins that enables borrowers in underserved markets to access credit through progressive trust-building mechanisms.

Crypto & Web3Fintech

Co-investorsParadigm

Ecoeco.comin𝕏

Eco provides a developer platform for stablecoin companies to enable cross-chain money movement without building underlying infrastructure.

Crypto & Web3Fintech

Ryne Saxe(Founder)in

Co-investors1k(x)1kxa16z cryptoActivant CapitalAndreessen HorowitzAusum Ventures+10 more

Ethena
Ethena Labsethena.fi𝕏

Ethena operates a crypto protocol offering USDe, a digital dollar, and sUSDe, a reward-accruing asset backed by collateralized assets with third-party attestations.

Crypto & Web3Fintech

Guy Young(Founder & CEO)in

Co-investorsAlphaLab CapitalBitDAOBreedCaladanCVP NoLimitF-Prime Capital+17 more

Ethereum Credit Guild

Decentralized savings and credit

Ethereum Credit Guild Decentralized savings and creditcreditguild.org
Etherscanetherscan.io𝕏

Etherscan is a blockchain explorer platform that provides search, API, and analytics services for Ethereum and multiple other blockchains.

Crypto & Web3Data & Infrastructure

Matthew Tan(CEO & Founder)

Co-investors6th Man VenturesA.Capital VenturesCoinbase VenturesDigital Currency GroupDraper AssociatesPlaceholder VC+2 more

Flashbots MEV R&Dflashbots.net

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

Flying Tulip
Flying Tulip All-in-One DeFiflyingtulip.com

Co-investorsImpossible FinanceLemniscap

Friends With Benefits (FWB)
FWBfwb.help𝕏

FWB is a members-only community and cultural organization for artists, technologists, and builders that organizes events, funds projects, and operates as a decentralized autonomous organization (DAO).

Creator EconomyCrypto & Web3Sector AgnosticSocialIdyllwild, US

Co-investorsa16z cryptoAndreessen HorowitzCoinbase VenturesCollab+CurrencyDeepTech VenturesKindred Ventures+3 more

Gelatogelato.networkin𝕏

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

Genesis Volatilty

Institutional grade crypto options analytics

Gro
Gro Yield-bearing, protected stablecoingro.xyz
Hologram
Hologram Digital avatar platformhologram.xyz𝕏

Hologram provides creative tools that enable anyone to produce and distribute short-form video content, removing barriers related to appearance, equipment, or budget.

Creator EconomyCrypto & Web3GamingMedia & Entertainment

Co-investorsMechanism CapitalSteel PerlotFoothill VenturesInflection.xyzVery Serious Ventures

Infinity Poolsinfinitypools.finance

Infinity Pools is a decentralized finance protocol for trading with leverage, offering positions with no counterparty risk for liquidity providers and no liquidations as long as interest is paid.

Crypto & Web3Fintech

Co-investorsStandard CryptoWintermuteDragonflyFolius VenturesGSR VenturesKRONOS+3 more

Informalinformal.systemsin𝕏

Co-investorsMaven 11CMCC Global

Informal Systems

Co-investorsMaven 11

Initiainitia.xyz𝕏

Initia provides blockchain infrastructure that connects full-stack applications through integrated protocols and aligned economic incentives.

Crypto & Web3Data & Infrastructure

Co-investorsA.Capital VenturesBig Brain HoldingsFigmentHack VCTheory Ventures

JPGjpg.space
Khalanikhalani.networkin𝕏

Khalani provides infrastructure for cross-chain and multi-provider transactions, enabling operators to define enforceable execution rules (price, latency, finality) that are automatically enforced across a network of solvers, market makers, bridges, and on/off-ramp providers.

Crypto & Web3Data & InfrastructureFintech

Co-investorsFigmentMaelstromEthereal Ventures Management Ltd.Figment Capital

Khalani
Liquifiliquifi.financeAcquired

Token operations platform, now offered as Coinbase Token Manager, automating vesting, lockups and bulk token distributions.

Robin Ji(Founder)in

Co-investorsAlliance DAO (ex DeFi Alliance)IOSG VenturesMarin Digital VenturesStruck CapitalVery Serious Ventures

Macro0xmacro.com

A security audit and research firm that provides smart contract audits and security services for the crypto industry, with a distributed global team.

Crypto & Web3CybersecuritySan Francisco, US

Harsh Patel(Co-founder)David Goldberg(Co-founder)Gilbert(Co-founder & Security Engineer)

Co-investorsCoinbase VenturesD1 VenturesBlackRockGoldman Sachs

Macro
Messarimessari.ioAcquired

Crypto data, research and disclosure platform covering 40,000+ assets; acquired by Blockworks in June 2026.

Ryan Selkis(Founder)in

Co-investorsAnthemis VentureBlockchain CapitalCoinbase VenturesFabric VenturesFenbushi CapitalFloodgate+13 more

MetaStreetmetastreet.xyz𝕏

MetaStreet offers a suite of products including NodeFi Yield Pass, which converts node yields and NFT airdrops into tradable tokens to enhance liquidity for owners in the DeFi ecosystem.

Crypto & Web3Fintech

Co-investorsDigital Currency GroupFermion

Metropolismetropolis.space

Metropolis builds deployment tools and media for smart contract developers in the crypto sector.

Crypto & Web3Developer Tools

Co-investorsCoinbase VenturesEldridge

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)in

Co-investorsBaseTwoDraper DragonFlowdeskMulticoin CapitalPantera CapitalSilvermine Capital+7 more

Exits · 1

IPOs and acquisitions across the tracked portfolio

0x Labs Decentralized P2P tradingcrypto exchanges: ZRX

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Nascent made?
Nascent has 100 tracked investments, 4 of which have exited via acquisition or IPO, including 2 dated in the last 24 months.
What stage does Nascent invest at?
Nascent invests at the Pre-Seed, Seed, Series A stages.
What sectors does Nascent focus on?
Nascent focuses on Crypto & Web3, SaaS.
Where is Nascent located?
Nascent is headquartered in San Francisco, US.
Who does Nascent co-invest with?
Nascent most often shares deals with Coinbase Ventures, IOSG Ventures, Pantera Capital, among 172 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Dan Elitzer | Co-Founder of Nascent and IDEO CoLab Ventures | web3 talks | May 12th 2022

Google TechTalks · Dan Elitzer

Dan Elitzer: Nascent & Empty Set Dollar

Bankless · Dan Elitzer

Images

Nascent photoNascent photo

Co-investors · 17

Dragonfly

Dragonfly is a crypto-focused investment firm comprising Dragonfly Ventures, Dragonfly Liquid, and Metastable, an early crypto hedge fund it acquired. It invests in and researches blockchain, tokens, and crypto companies.

$3M – $30M
Archetype

Archetype is an early-stage venture fund backing crypto founders building new markets and protocols.

$100K – $10M
Hack VC

Hack VC is a venture capital firm investing in early-stage crypto, blockchain infrastructure, decentralized finance, and AI companies.

$3M
Robot Ventures

Robot Ventures is a $75M early-stage crypto fund founded and led by Robert Leshner (Compound) and Tarun Chitra (Gauntlet), who actively run major DeFi companies while managing the fund, giving founders direct access to operators at the center of on-chain markets. The fund specializes in backing highly technical crypto primitives at the pre-seed stage before they become marquee names, leveraging deep quant research expertise to evaluate complex DeFi mechanisms that many generalist VCs struggle to understand.

Both backed · 5
$100K – $1M
ParaFi Capital

ParaFi Capital is a multi-strategy investment firm operating across public and private markets, focused on financial technology and capital markets innovation, including digital assets.

Ethereal Ventures Management Ltd.

Ethereal Ventures is a global investment firm focused on crypto, permissionless networks, and digital assets, backing companies from inception through growth.

Both backed · 4
CoinFund

CoinFund is a crypto-focused investment firm that backs and partners with companies building open, decentralized technology across finance, infrastructure, and AI.

Both backed · 3
Alliance LabsSuperstate’sZapper Social web3 explorer
$6M – $10M
Electric Capital

Electric Capital is an early-stage venture firm founded in 2018 that backs founders building trust-minimized technologies across AI, crypto, fintech, and related sectors.

$1M – $20M
VOLT CAPITAL

Volt Capital is a crypto-native venture fund that originated from the Token Daily community platform and maintains a separate validator arm to deeply understand blockchain networks they don't even invest in. The firm focuses on early-stage companies that use crypto rails but have familiar Web2-style business models, deliberately targeting overlooked areas from previous cycles while other VCs chase newer narratives.

$100K – $1M
Underscore VC

Underscore VC is an early-stage venture firm based in Boston that invests in B2B software startups globally, connecting founders to Boston's innovation ecosystem.

Both backed · 1
SparkLabs Global Ventures

SparkLabs Global Ventures is an early-stage venture fund whose partners are described as experienced operators and entrepreneurs, providing capital along with hands-on guidance to founders on scaling and international expansion.

Both backed · 1
Techstars

Techstars is a startup accelerator and early-stage investor that funds ambitious founders and provides capital, mentorship, and access to a global network of investors, operators, and corporate partners.

$220K
5 more co-investors

Kleiner PerkinsResolute VenturesSeed Club VenturesPage One VenturesCambrian Asset Management

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

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