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Polymorphic Capital

Pre-Seed–Seed Β· 8 people tracked

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Investment thesis

Polymorphic Capital positions itself as an early-stage investor providing strategic support and expertise in the web3 space. The firm offers thoughtful guidance and facilitates key introductions within the ecosystem, supporting portfolio companies through pre-seed and seed funding rounds.

Invests inCrypto & Web3

Source: firm website, verified Jul 21, 2026.

Stage
Pre-Seed–Seed
Leads rounds
Leads
Tracked investments
61

Team Β· 8 people

from the firm's website
Vitaly SpasskyΒ· Managing Partner

An investment advisor, operating executive, and entrepreneur with 25+ years of experience who founded and leads Polymorphic's team. Specializes in decentralized finance, web3, and disruptive technology businesses while identifying and advising entrepreneurs. Previously worked at G1 Ventures, Siguler Guff, Merrill Lynch, Donaldson Lufkin & Jenrette, and Credit Suisse.

Eldar KhamitovΒ· Partner, Portfolio Development

An expert in decentralized models and the crypto-economy with advanced training in applied mathematics. Leads the investment process and conducts technology and market research for early-stage companies. Previously worked at G1 Ventures and NKB Ventures.

Richard SobelΒ· Partner, Strategic Development

A seasoned private equity investor and family office executive who has raised and managed emerging market PE funds totaling $1 billion in assets. Oversees fund formation, governance, operations, and risk management at the firm. Prior experience includes roles at Altai Capital, Alfa Capital Partners, Baring Asset Management, EBRD, and Bain.

Alex WearnΒ· Venture Partner

Co-founder and CEO of IDEX, a pioneering decentralized cryptocurrency exchange, with involvement in crypto since 2015. Has held prior positions at Amazon, Adobe, and IBM, and is currently a member of Alliance DAO.

StefanoΒ· Venture Partner

A blockchain and crypto pioneer passionate about Web3 and DeFi with involvement since 2016. Has played a pivotal role in building innovative DAOs and actively contributes to communities including FWB and LinksDAO.

Vadim KoleoshkinΒ· Venture Partner

An entrepreneur with extensive experience in crypto since 2014 and co-founder of Zerion, an early smart social crypto wallet. Previously served as co-founder and CTO of a mobile application development company.

Anna KafkaridouΒ· Operations

A law graduate from MGIMO with 15 years of experience in legal, finance, and operations across corporate and private family office settings. Leads operations at Polymorphic Capital.

Nataly LaktionovaΒ· Marketing, Portfolio Development

A communications leader with degrees from the Higher School of Economics in Moscow who supports the investment process, portfolio development, and manages special projects. Previously worked at Apple, Yandex, and EPAM.

What they invest in

from 6 of 61 portfolio companies

Crypto & Web3 Γ—4Fintech Γ—4AI & Machine Learning Γ—2SaaS Γ—2Creator Economy Γ—1Data & Infrastructure Γ—1Developer Tools Γ—1HR Tech Γ—1

HQs:FinlandΓ—1United StatesΓ—1

Investments Β· showing 60 of 61

founders shown can be your intro path
Azuroazuro.org
Azuro
BIO protocol
Concept Art House
Conceptarthouseconceptarthouse.comin𝕏
Due
ECP
Embed
Ethcommentsethcomments.xyz
Fair Math
Fairmathfairmath.xyzin𝕏
Fluencefluence.network𝕏
Folks Finance
Freenamefreename.com
Gearbox
Gearboxgearbox.fi

Gearbox provides institutional credit infrastructure for tokenized real-world assets and stablecoins, offering margin, prime brokerage, and portfolio loan products. The protocol enables segregated accounts with issuer-aware mechanics to handle complex asset rules and compliance requirements on-chain.

Crypto & Web3FintechSaaS

Inshallahinshallah.fi
Interfaceinterface.social
Intuitionintuition.systemsin𝕏
Kredetekredete.ioin

Kredete provides cross-border payment services for diaspora communities and emerging-market populations. The platform enables financial transactions across international borders, serving millions of users and facilitating billions of dollars in transfers.

AI & Machine LearningFintechNew York City, US

Kredete
Lenslenster.xyz
Liquoriceliquorice.tech𝕏
Made by Reformareforma.guru
Mansa
Mansafinancemansafinance.co
Mellowmellow.finance𝕏
mfersmirror.xyz

Paragraph is a publishing platform with an integrated AI agent that automates content creation, editing, and distribution across multiple channels including blogs, newsletters, social media, and landing pages. It serves content creators, writers, and company teams looking to consolidate their publishing workflow and reach owned audiences.

AI & Machine LearningCreator EconomySaaS

NapthaAI
Neverminednevermined.io𝕏
Neynar
Neynarneynar.com

Neynar is a software platform for building games, commerce, agents, and social applications on the Farcaster protocol. It provides infrastructure, APIs, and visual development tools for developers and brands to deploy applications to a network of 2.6M+ accounts and connected crypto wallets.

Crypto & Web3Developer ToolsSocial

dwr.eth

Rise
Riseworksriseworks.io

Rise is a payroll and payments platform that enables companies to hire and pay contractors and employees globally in both fiat and cryptocurrency across 190+ countries, handling compliance, tax documentation, and worker identity verification automatically.

Crypto & Web3FintechHR Tech

SAFE
Seamseam.so
Send
Sendpaymentssendpayments.com
Social Graph Ventures
Stardust
Sygnumsygnum.com
Trace Finance
Tracefinancetracefinance.com
Warpcastwarpcast.com
Zerionzerion.ioin𝕏

Zerion is a self-custodial, multichain wallet and data platform that aggregates assets and positions across 58+ blockchains in real time, offering swap routing, trading, and an API for wallet data access. The platform serves cryptocurrency users and developers building onchain applications.

Crypto & Web3Data & InfrastructureFintech

Zerion
Zodia Markets
Zodiamarketszodiamarkets.comin
Zynk Labs

Frequently asked questions

What stage does Polymorphic Capital invest at?
Polymorphic Capital invests at the Pre-Seed, Seed stages.
What sectors does Polymorphic Capital focus on?
Polymorphic Capital focuses on Crypto & Web3.
Does Polymorphic Capital lead rounds?
Yes, Polymorphic Capital leads investment rounds.

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