Paper Ventures
Venture capitalPre-Seed–Seed · 3 people tracked
Also known as Paper Ventures US
Investment thesis
Pre-seed and seed, founder-first investors combining poker, traditional finance, crypto-exchange and early-stage tech expertise, capped at $25M to focus across sectors with longstanding Web3 and consumer/game deal flow.
Source: firm website, verified Jul 20, 2026.
Team · 3 people
from the firm's website
What they invest in
from 26 of 43 portfolio companiesCrypto & Web3 ×20Fintech ×12Data & Infrastructure ×9AI & Machine Learning ×6Consumer ×4Cybersecurity ×4Developer Tools ×3Enterprise Software ×3
HQs:United States×4Costa Rica×1
Investments · 43 tracked
founders shown can be your intro pathBy year:2026 · 22025 · 12024 · 36 dated
Co-investorsLemniscapSymbolic Capitalgumi Cryptos Capital (gCC)
Co-investorsBankless VenturesHack VCL2 Iterative Ventures (L2IV)
Houston, US
JASON CALEY-BRANNIGAN(Executive Officer)BRIAN BERMAN(Executive Officer)SAMUEL GREEN(Executive Officer, Director)
Co-investorsFlow TradersFranklin TempletonNomad CapitalPolychain CapitalSelini Capital
Camp Network is a Layer-1 blockchain for intellectual property infrastructure, providing a global IP registry that lets users own and monetize their IP and enables AI agents to train on user-owned IP.
AI & Machine LearningCrypto & Web3Data & Infrastructure
James Chi(Founder)inNirav Murthy(Founder)in
Co-investors1k(x)1kxBlockchain CapitalEterna CapitalHyperithmMarin Digital Ventures+6 more
Co-investors1k(x)
Co-investorsAlphaLab CapitalBreedCaladanFlowdeskFourth Revolution Capital (4RC)Hyperithm+1 more
Cluster provides go-to-market infrastructure for AI agents, giving them access to 50+ GTM data sources, LinkedIn and email sending tools, and the ability to run many subagents in parallel for outbound prospecting.
AdTechAI & Machine LearningData & InfrastructureSales TechNew York City, US
Co-investorsTechstarsMapleblock Capital
Utexo provides Lightning Network infrastructure for payment service providers to process USDT payments with configurable fees and enable BTC-to-USDT settlement and yield.
Crypto & Web3Data & InfrastructureFintech
Co-investorsBig Brain HoldingsMaven 11
Drosera provides a security protocol built around "Traps," on-chain mechanisms designed to detect and respond to threats, aimed at developers and operators in the blockchain space.
Crypto & Web3Cybersecurity
Co-investorsArrington CapitalMetamatic GroupNxGenUDHCArrington XRP Capital
ETHGas operates a marketplace that makes Ethereum blockspace tradable, letting validators and node operators sell blockspace forward to convert uncertain MEV into contracted, recurring ETH-denominated yield.
Crypto & Web3Data & InfrastructureFintech
Co-investorsComma3 VenturesNode Capital
Forgotten Playland: Party Edition is a multiplayer party game where players customize characters called PlushKyns and compete in a variety of competitive mini-games set in themed areas.
ConsumerGaming
Co-investorsWWVenturesC2 VenturesMerit Circle
Glacis Labs builds Zero Delta, a settlement network that matches institutional order flow to execute large digital asset trades and cross-border remittances with zero slippage and no prefunded float.
Crypto & Web3Enterprise SoftwareFintech
Cofounder (JPMorgan, Spruce)(Cofounder)Technical Cofounder(Technical Cofounder)
Co-investorsArrington CapitalEdessa CapitalProtagonistArrington XRP CapitalLightspeed Faction
human.tech provides a privacy-preserving identity and control layer for people, institutions, and AI, using zero-knowledge proofs and client-side cryptography built on W3C Verifiable Credentials and eIDAS 2.0 standards.
Crypto & Web3CybersecurityGovTech
Co-investorsDraper DragonUDHCNVP CapitalY Combinator
Limitless is a prediction market platform where users trade on outcomes across categories including crypto, sports, finance, and politics.
Crypto & Web3Fintech
Dima Horshkov(Founder)in
Co-investorsCoinbase VenturesCollider VenturesDell Technologies CapitalGrove VenturesMeron Capital
Co-investorsBitDAOMantle Network
MonkeyTilt is a crypto-based online gambling platform offering casino games (slots, live dealer tables, game shows, and exclusive originals), a sportsbook with pre-match and live betting, and poker, all funded through cryptocurrencies.
ConsumerCrypto & Web3GamingSan Jose, CR
Sam Kiki(Founder)
Co-investorsPantera CapitalPolychain CapitalCoinFundHack VC
Naptha.ai helps businesses adopt agentic software development by addressing AI agent interaction problems that lead to poor user experience and churn.
AI & Machine LearningDeveloper ToolsEnterprise Software
Co-investorsPolymorphic Capital
Co-investorsPolymorphic Capital
Perle provides human expert data services for AI teams, including expert-labeled training data, model evaluation, red-teaming, bias auditing, and multi-sensor robotics data collection.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSan Francisco, US
Ahmed Rashad(Founder)in
Co-investorsACTAI VenturesAlphaLab CapitalBig Brain HoldingsBreedCaladanCoinFund+2 more
Polychain is an investment firm that manages actively managed portfolios of blockchain-based digital assets, focusing on returns from the cryptocurrency sector.
Crypto & Web3
Olaf Carlson-Wee(Founder & CEO)in
Co-investorsA.Capital VenturesAbstract VenturesAndreessen HorowitzBollinger Investment GroupMirana VenturesMoonhill Capital+7 more
Psy is a Layer 1 blockchain protocol built with a PARTH architecture and Proof of Useful Work consensus, aiming for high transaction throughput, fixed low fees, and local zero-knowledge proving so user data stays on-device.
AI & Machine LearningCrypto & Web3Cybersecurity
Co-investorsProtagonist
Pye is a non-custodial DeFi platform for Solana staking, offering an on-chain orderbook where stakers can sell future staking rewards or buy discounted SOL, plus an embeddable rewards-trading widget for validators.
Crypto & Web3Fintech
Co-investorsCoinbase VenturesMarin Digital VenturesVariant FundSolana Labs
Co-investorsAccelAllied Venture PartnersBorderless VentureManta Ray VenturesNew Enterprise Associates (NEA)Pharsalus Capital+2 more
Rakurai builds a high-throughput, low-latency validator client for web3 infrastructure, aimed at blockchain validators who want to pack denser blocks and capture higher yields.
Crypto & Web3Data & InfrastructureDeep TechDeveloper Tools
Ali
Co-investorsAnagram VenturesRobot VenturesSlow Ventures
Rena Labs provides a TEE (trusted execution environment) data exchange for confidential AI training and inference on proprietary data, with encryption, on-chain logging, and compliance features.
AI & Machine LearningCrypto & Web3Cybersecurity
Co-investorsEterna CapitalFactionLightspeed FactionMapleblock Capital
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
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
OLIVER BELL(Director)
Co-investorsCrucible CapitalDragonflyGSRMetastableMH VenturesMulticoin Capital+3 more
Sophon is a crypto project transitioning its SOPH token from a chain-based gas and staking model to a buyback-and-burn programme funded by product revenue.
Crypto & Web3Fintech
Doreen Du(Founder)in
Co-investorsBeamMerit CircleWWVentures
TAC is a blockchain protocol and Layer that lets Ethereum/EVM developers deploy their DeFi applications and distribute them to Telegram and TON users, enabling "hybrid dApps" that combine EVM logic with TON UX.
Crypto & Web3Developer ToolsFintech
Co-investorsHack VCSymbolic CapitalBITKRAFT VenturesThe Open Platform
Telegram is a cross-platform messaging application with encrypted, self-destructing messages, multi-device sync, and large group chats.
ConsumerMedia & EntertainmentSocial
Co-investorsAcquire FiAfford.CapitalAlphabit FundAngelONE CapitalArrington CapitalAsia GreenTech Fund+48 more
Temple Digital Group provides private and compliant financial market infrastructure for institutions, built on the Canton Network.
Crypto & Web3Data & InfrastructureFintech
Co-investorsEterna Capital
YieldPoint operates a multi-chain crypto yield platform whose first product, Unity ($UTY), is a dollar-pegged, tokenized market-neutral position that generates yield from crypto trading activity rather than price direction.
Crypto & Web3Fintech
Co-investorsBorderless VentureBlizzard the AvalancheBorderless CapitalChainview CapitalProtagonist
Portfolio news
latest coverage across their companies
Human · techpolicy.press · Aug 19, 2026
Camp · yakimaherald.com · Aug 4, 2026
Rakurai · drasticnews.com · Aug 4, 2026
Limitless · x.com · Jul 27, 2026
Cambrian Network · airdrops.io · Jun 30, 2026
Polychain · cryptobriefing.com · Jun 24, 2026
Frequently asked questions
- How many investments has Paper Ventures made?
- Paper Ventures has 41 tracked investments, including 2 dated in the last 24 months.
- What stage does Paper Ventures invest at?
- Paper Ventures invests at the Pre-Seed, Seed stages.
- What sectors does Paper Ventures focus on?
- Paper Ventures focuses on Crypto & Web3.
- Does Paper Ventures lead rounds?
- Paper Ventures typically participates in rounds rather than leading them.
- Who does Paper Ventures co-invest with?
- Paper Ventures most often shares deals with Protagonist, Eterna Capital, Borderless Venture, among 65 tracked co-investors.
Images
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