Fundraising FoxPrimitive Ventures
Venture capitalHong Kong · Pre-Seed–Series A · 9 people tracked
Also known as Primitive
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Investment thesis
Primitive Ventures invests at the convergence of capital markets and onchain economies, describing itself as a CeDeFi pioneer with roots as an infrastructure investor since 2014 and DeFi backer since 2017. The firm is LP-free and fully partner-owned, deploying patient, evergreen capital with long-term conviction and a founder-centric, low-ego approach. Operating across Hong Kong, Singapore, New York and San Francisco, it positions its East-West presence as an asymmetric advantage, bridging global innovation hubs through cultural fluency and deep networks. It backs builders shaping the decentralized future, claiming involvement with more than 50 unicorn protocols and onchain economies.
Source: firm website, verified Oct 1, 2026.
Team · 9 people
from the firm's website & public directories
What they invest in
from 15 of 40 portfolio companiesCrypto & Web3 ×10Fintech ×6AI & Machine Learning ×5Developer Tools ×5Enterprise Software ×3SaaS ×3Cybersecurity ×2Data & Infrastructure ×2
HQs:United States×6Israel×1
Who they back
founder profiles across 14 portfolio companiesFounding team size:solo founder×92 founders×13 founders×34+ founders×1
Where their founders studiedfrom 13 founders with education data
Thomas Jefferson High School for Science and Technology ×3Massachusetts Institute of Technology ×2Stanford University ×2
What their founders studiedfrom 15 founders with field-of-study data
Computer Science ×9Business & Management ×2Engineering ×2
Where their founders worked beforefrom 14 founders with career history
MITRE ×2Stanford University ×2Technion ×2
Investments · 40 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 62021 · 32018 · 212 dated
Fhenix is a blockchain research and development company building FHE (Fully Homomorphic Encryption) infrastructure that lets developers run confidential computation on encrypted data in EVM-compatible smart contracts.
Crypto & Web3CybersecurityDeveloper Tools
Guy Itzhaki(Founder)inGuy Zyskind(Founder)inDr. Guy Zyskind(Founder)
Co-investorsCollider VenturesGSRHack VCMulticoin CapitalNode CapitalAmber Group+15 more
Berachain is a Layer 1 blockchain network built around a Proof of Liquidity mechanism that directs block reward emissions as non-dilutive growth capital to ecosystem applications in exchange for revenue sharing with the network and tokenholders.
Crypto & Web3Developer ToolsFintech
Smokey the Bera(Founder)Homme Bear(Founder)Smokey The Bera(Founder)
Co-investorsAlphaLab CapitalArrington CapitalBorderless VentureCaladanCitizenX Crypto VenturesCVP NoLimit+20 more
Biconomy provides developer tools and APIs that handle transaction infrastructure for blockchain applications.
Aniket Jindal(Founder)in
Co-investorsBitDAOBorderless VentureCoinbase VenturesCoinFundCreative Destruction Lab (CDL)D11-Labs+29 more
BounceBit provides a blockchain-based yield and credit platform that allows users to deposit cryptocurrencies (BTC, ETH, SOL, USDT, BNB) to earn yield and access interest-free credit lines.
Crypto & Web3Fintech
Jack L.(Founder)in
Co-investorsArcane GroupBankless VenturesBlockchain CapitalGeekCartelHTX Ventures (ex Huobi Ventures)
Cartridge provides infrastructure for onchain games, including a game-native wallet and identity system (Cartridge Controller) and a deterministic onchain game engine (Dojo Engine).
Crypto & Web3Developer ToolsGaming
Co-investorsAlliance DAO (ex DeFi Alliance)Bitkraft Esports VenturesChapter OneFabric VenturesSpice CapitalDune Ventures+3 more
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Deliverr was an e-commerce fulfillment startup offering fast, Amazon Prime-like two-day delivery for merchants selling on marketplaces like Shopify, Walmart, and eBay via a distributed network of warehouses.
AI & Machine LearningEnterprise SoftwareLogistics & Supply ChainSaaSSan Francisco, US
Michael Krakaris(Founder)inDavid C. Petersen(Founder)inHarish Abbott(Founder)Ryan Petersen(Founder)in
Co-investors8VCActivant CapitalAlumni VenturesKrillion VenturesNFI Ventures, LLC9Yards Capital+32 more
DODO is a decentralized exchange and on-chain liquidity protocol built on a Proactive Market Maker algorithm.
Co-investorsAssembly PartnersCoinbase VenturesD1 VenturesGalaxy VenturesIOSG VenturesLongHash Ventures+5 more
Drift (now part of Salesloft) provides AI chat agents that engage website visitors in real time, capture buyer intent, and feed those signals into Salesloft's Predictive Revenue System to trigger seller actions.
AI & Machine LearningMarketing TechSales Tech
David Cancel(Founder)inElias Torres(Founder)in
Co-investorsAvenir Growth CapitalFounder CollectiveGeneral CatalystHarmony PartnersNextView VenturesOnStartups+2 more
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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)in
Co-investorsAlphaLab CapitalAtaraxia CapitalBitDAOBreedCaladanCVP NoLimit+21 more
Earlybird is a Solana-based pre-IPO prediction markets protocol offering long/short exposure to private startups.
Santhosh Narayan(Founder)in
Co-investorsCoinbase Ventures6th Man VenturesDragonflyGalaxy InteractiveNFXPantera Capital
Lite Strategy, Inc.
BiotechCrypto & Web3FintechHealthtechSan Diego, US
David M. Urso(Executive Officer)inDaniel P. Gold(Executive Officer, Director)Brian G. Drazba(Executive Officer)inMr. File(Chief Executive Officer & Board Member (former CFO))Justin (Jay) File(CEO, CFO)inKevan E. Clemens(Director)
Co-investors3B Future Health FundAisling CapitalGSRNew Enterprise Associates (NEA)Amzak HealthBiotechnology Value Fund+1 more
Crypto data, research and disclosure platform covering 40,000+ assets; acquired by Blockworks in June 2026.
Ryan Selkis(Founder)inDan McArdle(Founder)Eric Turner(Founder)
Co-investorsAnthemis VentureBlockchain CapitalBlockchain CoinvestorsCoinbase VenturesFabric VenturesFenbushi Capital+20 more
NAOS Finance is a blockchain lending protocol connecting DeFi lenders with SME borrowers using tokenized real-world assets.
Co-investorsCoinbase VenturesSora VenturesYoubi CapitalAU21 CapitalCollider VenturesCrypto com Capital+11 more
Operating system and coordination layer for intelligent robots
Jan Liphardt(Founder)in
Co-investorsPebblebedAnagram VenturesCoinbase VenturesDigital Currency GroupFactionHongShan Capital Group+4 more
Particle Network provides developer infrastructure for onchain applications, including Universal Accounts that let users access dApps with assets from any blockchain without bridging, account abstraction for gas sponsorship and removing signature popups, and social logins for one-click onboarding.
Crypto & Web3Data & InfrastructureDeveloper Tools
Pengyu Wang(Founder)in
Co-investorsAlphaLab CapitalArcane GroupBitDAOBloccelerate VCCaladanFOMO Ventures+12 more
Refactor builds AI agents that automate operations for large organizations in retail, healthcare, and logistics, enabling tasks like catalog management, customer service, and account management within legacy software systems.
AI & Machine LearningEnterprise SoftwareSaaSSan Francisco, US
Arnav Joshi(CEO)inDaniel Zamoshchin
Co-investorsY CombinatorAgrolimen VenturesGeneral CatalystUnpopular Ventures
Sapien provides analytics software for operations and finance teams to decompose unit economics, trace margin variance to operational drivers, and model sourcing, pricing, and capacity scenarios.
AI & Machine LearningEnterprise SoftwareFintechSaaS
Ron Nachum(Co-founder)inArya Grayeli(Co-founder)inPranav Ravella(Co-founder)in
Co-investorsFirestreak VenturesFOG VenturesGeneral CatalystArtichoke CapitalIVCPortal
Sapien builds PoQ, an open blockchain-based infrastructure that produces verifiable quality signals for AI training data, letting teams audit and prove the provenance and trustworthiness of data used in AI systems.
AI & Machine LearningCrypto & Web3Data & Infrastructure
Rowan Stone(CEO)inTony Marks(Founder)inTrevor Koverko(CSO)inKelly Ryan(CTO)in
Co-investorsCoinbase VenturesFounderheads,Reflexive CapitalSoma CapitalTranspose Platform ManagementVariant Fund+3 more
Sentient is an AI solutions provider offering enterprise services including automatic speech recognition for Asian languages.
Christopher Yeo(Founder)in
Co-investorsDG Daiwa VenturesDG Ventures, Inc.UntroD CapitalArrington CapitalCanonical CryptoEthereal Ventures Management Ltd.+10 more
Sharplink is a Nasdaq-listed company (ticker SBET) that runs an Ethereum digital asset treasury strategy, staking and actively managing ETH to grow ETH holdings per share for shareholders through custody, execution, risk controls, and DeFi participation.
Crypto & Web3FintechMinneapolis, US
Rob Phythian(Chief Executive Officer)inRobert DeLucia(Chief Financial Officer)inJoseph ChalominJoe Housman(Director)Adrienne Anderson(Director)Chris Nicholas(Executive Officer)
Co-investorsDigital StrategiesWhite Star CapitalCMCC Global
SpaceComputer is a distributed satellite network providing censorship-resistant computation and verifiable settlement across Earth and orbit, using satellite-hosted trusted execution environments (TEEs), confidential smart contracts, and quantum-hardened cryptography.
CybersecurityDeep TechSpace Tech
Daniel Bar(Co-Founder & CEO)in
Co-investorsLattice CapitalMaven 11Starship VenturesNext Frontier CapitalPolygon
StarkWare develops zero-knowledge proof and validity rollup solutions for blockchain applications, enabling secure, scalable, and trustless transactions.
Crypto & Web3Deep TechDeveloper ToolsNetanya, IL
Eli Ben-Sasson(Founder)inUri Kolodny(Founder)inAlessandro Chiesa(Founder)inMichael Riabzev(Founder)inAvihu Levy(Head of Product & Blockchain Research)inOren Katz(VP Engineering)in
Co-investorsAtomicoBalaji SrinivasanBlockchain CoinvestorsBollinger Investment GroupCapital B Private HoldingsChapter One+23 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Cartridge Gaming CompanyCodexCosmosFluentGmxHookedImpossible FinanceIrysLooksRareMerlinMonadMovementNansenOptimismOrderlyPerenaSharps TechnologyX-Margin
Exits · 2
2 acquisitions · showing 1Deliverracq. by Shopify
Portfolio news
latest coverage across their companies
Sharplink · markets.businessinsider.com · Aug 10, 2026
Messari · trysignalbase.com · Mar 25, 2026
Frequently asked questions
- How many investments has Primitive Ventures made?
- Primitive Ventures has 40 tracked investments, 2 of which have exited, including 1 dated in the last 24 months.
- What stage does Primitive Ventures invest at?
- Primitive Ventures invests at the Pre-Seed, Seed, Series A stages.
- What sectors does Primitive Ventures focus on?
- Primitive Ventures focuses on AI & Machine Learning, Crypto & Web3, Data & Infrastructure, Fintech.
- Where is Primitive Ventures located?
- Primitive Ventures is headquartered in Hong Kong, HK.
- Who does Primitive Ventures co-invest with?
- Primitive Ventures most often shares deals with Coinbase Ventures, AlphaLab Capital, Caladan, among 108 tracked co-investors.
Media · Podcasts & interviews
featuring the teamFrontier Pod 003 - Dovey Wan - Primitive Ventures
SpaceComputer · Dovey Wan
Founders of Web3 ep11: Interview with Dovey Wan from Primitive Ventures
Outlier Ventures · Dovey Wan · youtube.com
Dovey Wan, Founding Partner at Primitive Ventures: Whats Really Going On with Crypto in China
Anthony Pompliano · Dovey Wan
Co-investors · 52
Founders Fund is a venture capital firm that backs technology companies building transformative products.
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.
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.
Borderless is a Web3-focused investment firm led by operators, founders, and engineers with experience building and scaling blockchain infrastructure, offering hands-on partnership to the teams it backs.
New Enterprise Associates (NEA) is a venture capital firm that invests in and provides long-term support to founders building new companies.
FJ Labs is an early-stage investment firm specializing in marketplaces and network-effect businesses, taking an angel-style co-investment approach alongside institutional venture funds worldwide.
DST Global is a global internet-focused investment firm that backs fast-growing, high-value internet companies. It does not solicit or accept retail investors.
Polychain is an investment firm that actively manages portfolios of blockchain-based digital assets, aiming to deliver strong returns for its investors.
Polygon is a blockchain platform positioned as infrastructure for global payments and money movement, enabling assets to move onchain at scale. It offers an open stack for accessing the onchain economy and is powered by its native token $POL.
Next Frontier Capital (NFC) is a venture capital firm founded by former operators that invests in technology startups across sectors it knows well, offering hands-on founder support and mentorship.
gumi Cryptos Capital is an early-stage venture capital firm headquartered in Silicon Valley that focuses on cryptocurrency and blockchain investments.
Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.
▶40 more co-investors
GV (Google Ventures)Craft VenturesNotable CapitalFirst Round CapitalFoundation CapitalKrakenGreat Oaks Venture CapitalQuiet CapitalSusa VenturesHCVCBling CapitalAME Cloud VenturesUpHonest CapitalC2 InvestmentsBullpen CapitalSierra VenturesAbstract VenturesDCM VenturesGoodwater CapitalDell Technologies CapitalEclipse Ventures7percent VenturesSaga VenturesAnorak VenturesCoelius CapitalA.Capital VenturesHouseHelium-3 VenturesMontage VenturesDivergenceJigsaw VCCherubic VenturesAmino CapitalAVVWI Harper GroupPillar VCAcurio VenturesTencent HoldingsPromus VenturesKdT Ventures
Firms observed investing alongside Primitive Ventures, from public investor directories. Shared companies are the overlap with Primitive Ventures's recorded portfolio.
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