What stage does Plaintext Capital invest at?

Plaintext Capital invests at the Seed stage.

What sectors does Plaintext Capital focus on?

Plaintext Capital focuses on Crypto & Web3.

Where is Plaintext Capital located?

Plaintext Capital is headquartered in Miami, US.

Plaintext Capital

Venture capital

Miami · Seed · 4 people tracked

Also known as PLAINTEXT CAPITAL MANAGEMENT LLC

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Investment thesis

Plaintext Capital believes Web3 and crypto will drive digital innovation over the coming decades and create significant value for investors. The firm exclusively backs Web3 companies and protocols, employing a multi-strategy approach that combines fundamental research with active trading to manage a diversified portfolio of assets. Its fundamental research is sector and geography agnostic. The firm emphasizes a transparent, simple, and repeatable investment process with a focus on continuous improvement.

Invests inCrypto & Web3 Global Miami

Source: firm website, verified Sep 29, 2026.

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Stage

Seed

Miami, US

Founded

2021

Team · 4 people

from the firm's website

Fran O.· CEO· United Statesin 𝕏

Francisco (Fran) O. is Managing Partner at Plaintext Capital, a cryptocurrency investment firm that manages portfolios for family offices, funds of funds, crypto treasuries, and individuals. Previously, he held the position of Executive Director at J.P. Morgan and worked as a global analyst at HSBC Bank across multiple international offices. He holds a degree from the University of Bath with double majors in Business Management and Modern Languages.

Phil Bonello· CIO· Denver, Colorado, United Statesin 𝕏

Phil Bonello is Managing Partner and Chief Investment Officer at Plaintext Capital, an actively managed cryptocurrency investment fund. He previously served as Director of Research at Grayscale Investments and Head of Research at Ikigai Asset Management.

Andrés García· COO· Miami, Florida, United Statesin

Peter Carlson· Associate· New York City Metropolitan Areain 𝕏

Peter Carlson is an Associate at Plaintext Capital. He graduated from Middlebury College with magna cum laude honors in Physics and was a four-year member of the varsity basketball team.

Frequently asked questions

What stage does Plaintext Capital invest at?: Plaintext Capital invests at the Seed stage.
What sectors does Plaintext Capital focus on?: Plaintext Capital focuses on Crypto & Web3.
Where is Plaintext Capital located?: Plaintext Capital is headquartered in Miami, US.

From the blog

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Recent posts cover crypto and AI investment theses: the projected growth of DeFi through stablecoins and tokenized assets, and the shift of AI training toward edge devices and blockchain-coordinated distributed training networks. AI summary

DeFi's IndustrializationAug 2026Argues DeFi earnings will grow sharply over five years as stablecoins, tokenized assets, and onchain trading volume expand under favorable regulation and incumbent adoption.The Edge is ComingAug 2025Argues that edge devices like phones and laptops will host AI via on-device continual and federated training, removing humans as bottlenecks and improving personalization and privacy.Distributed Training is the FutureMar 2025Explains how blockchain-coordinated GPU networks enable decentralized model training, reviewing projects like Prime Intellect, Nous Research, and Gensyn that reduce bandwidth and cost requirements.

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