Puzzle Ventures
Venture capitalPre-Seed–Seed · 3 people tracked
Find your way into Puzzle Ventures
1,608 people in our graph share verified history with the Puzzle Ventures team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Puzzle Ventures concentrates on early-stage blockchain and Web3 companies, aiming to help these startups grow and to contribute to shaping the future of the decentralized web.
Source: firm website, verified Aug 3, 2026.
Team · 3 people
from curated & public directories
What they invest in
from 12 of 28 portfolio companiesCrypto & Web3 ×9Data & Infrastructure ×6Developer Tools ×5AI & Machine Learning ×4Enterprise Software ×4Fintech ×3SaaS ×2Advanced Manufacturing ×1
HQs:United States×2Australia×1India×1
Investments · 28 tracked
founders shown can be your intro pathBy year:2026 · 22021 · 13 dated
Aurora operates the Network of Virtual Chains, offering developers customizable, EVM-compatible chains that run as smart contracts on the NEAR blockchain.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investorsD1 VenturesIOSG VenturesLemniscapMentha PartnersPantera CapitalCrypto com Capital+2 more
Decentralized bridge connecting all blockchain assets.
Built provides a cloud-based platform that connects capital, data, and workflows for real estate finance, enabling lenders, owners, developers, and contractors to fund, manage, and build projects with visibility and control across the entire lifecycle from origination to asset management.
AI & Machine LearningConstruction TechEnterprise SoftwareFintechPropTechSaaSNashville, US
Chase Gilbert(CEO)in
Co-investorsCanapi VenturesCRV (Charles River Ventures)Fifth WallHDS CapitalIndex VenturesNyca+8 more
O3 Swap is a cross-chain aggregation protocol from Tokyo-based O3 Labs for swapping assets across Ethereum, BSC, Heco and Neo.
Co-investorsCatcherVCZMT CapitalNGC VenturesSevenX Ventures
DODO is a decentralized exchange and on-chain liquidity protocol built on a Proactive Market Maker algorithm.
Co-investorsCoinbase VenturesD1 VenturesIOSG VenturesLongHash VenturesPantera CapitalAntler+2 more
GoPlus Security builds a decentralized security layer for Web3, integrating with blockchains and projects to run risk analysis and protect users across their on-chain transactions.
AI & Machine LearningCrypto & Web3Cybersecurity
Co-investorsCatcherVCHyperithmCrypto com Capital
Co-investorsBitDAOLucidBlue VenturesMantle Network
Magma builds operational infrastructure and systems for India's manufacturing sector, working directly with manufacturers to improve their critical operations and support large-scale industrial growth.
Advanced ManufacturingB2B MarketplacesEnterprise SoftwareLogistics & Supply Chain
BoardNeal Thakker
Co-investorsAccionCapria VenturesGVFL Ltd.Hashkey CapitalSevenX Ventures
Magma helps companies that build AI agents package and license their agents' interaction data — traces, corrections, and completed workflows — to AI labs, paying those companies a revenue share.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaSSan Francisco, US
Ramtin Shahzanian(Founder)in
Co-investorsVela PartnersY CombinatorCapria VenturesGVFL Ltd.Hashkey CapitalSevenX Ventures
Neon Labs develops technology to bridge Ethereum Virtual Machine (EVM) applications with the Solana blockchain, aiming to make Web3 transactions faster and cheaper.
Crypto & Web3Data & InfrastructureDeveloper ToolsGrand Cayman
Petrus Dorfling Basson(Executive Officer, Director)Marina Guryeva(Executive Officer, Director)David Charles Lloyd(Executive Officer, Director)
Co-investorsAdvanced BlockchainBollinger Investment GroupNxGenRockawayXWintermuteEthereal Ventures Management Ltd.+4 more
Offchain provides enterprise infrastructure and blockchain products for the programmable economy, including scaling solutions, consensus clients, and smart account infrastructure.
Crypto & Web3Enterprise SoftwareFintech
Steven Goldfeder(Founder)in
Co-investorsBallistic VenturesCoinbase VenturesDeFiance CapitalFenbushi CapitalLightspeed Venture PartnersPantera Capital+3 more
Omnity Network is an on-chain omnichain interoperability protocol built on the Internet Computer that bridges Bitcoin assets across chains.
Co-investorsContinue CapitalD1 VenturesYoubi CapitalZMT Capital
Orderly Network provides omnichain infrastructure for launching perpetuals decentralized exchanges (perp DEXs) on any blockchain, offering a shared orderbook and liquidity accessible via SDK or white-label.
Crypto & Web3Data & InfrastructureDeveloper Tools
Ran Yi(Founder)in
Co-investorsD1 VenturesDragonflyGate VenturesIOSG VenturesMentha PartnersMetastable+9 more
Polyhedra Network builds blockchain infrastructure for AI applications, including EXPchain, a chain for verifiability, data security, and performance of AI systems, and the ZKJ token for gas and governance.
AI & Machine LearningCrypto & Web3Data & Infrastructure
Tiancheng X.(Founder)in
Co-investorsArcane GroupL2 Iterative Ventures (L2IV)LongHash VenturesMapleblock CapitalRR2 CapitalSignum Capital+7 more
Co-investors1k(x)1kxCrit VenturesDigital Finance GroupPentos VenturesYat Siu+1 more
Co-investorsSevenX Ventures
End-to-end risk management technology for DeFi
Co-investorsMoreVCParaFi CapitalIndex VenturesPebblebedTiny Supercomputer Investment Company
Co-investorsD1 Ventures
Co-investorsA.Capital VenturesBain Capital CryptoBixin CapitalBixin VenturesCatcherVCIOSG Ventures+6 more
Building a new standard for the tokenized economy.
Smart Token Labs builds infrastructure for tokenization, including TokenScript (a smart token interface standard for composable tokens), AlphaWallet (an open-source EVM mobile wallet), and Smart Layer (a blockchain-based service network that executes token logic and integrates web services with token functionality).
Crypto & Web3Data & InfrastructureDeveloper ToolsSydney, AU
Weiwu Zhang(Founder)in
Co-investorsBODL
A native DEX deployed on the Unagiswap network supported by DEXpert.
A native DEX deployed on the Berachain network supported by DODO DEXpert.
Portfolio news
latest coverage across their companiesMagma · ycombinator.com · Aug 14, 2026
Redefine · theaiinsider.tech · Jul 17, 2026
Built · m.economictimes.com · Jul 15, 2026
Magma · marcamoney.com · Dec 20, 2025
Dodo · wired.com · Sep 28, 2025
Frequently asked questions
- How many investments has Puzzle Ventures made?
- Puzzle Ventures has 23 tracked investments.
- What stage does Puzzle Ventures invest at?
- Puzzle Ventures invests at the Pre-Seed, Seed stages.
- What is Puzzle Ventures's typical check size?
- Puzzle Ventures typically writes checks of $1M – $5M.
- What sectors does Puzzle Ventures focus on?
- Puzzle Ventures focuses on Crypto & Web3.
- Does Puzzle Ventures lead rounds?
- Puzzle Ventures typically participates in rounds rather than leading them.
- Who does Puzzle Ventures co-invest with?
- Puzzle Ventures most often shares deals with D1 Ventures, IOSG Ventures, Pantera Capital, among 54 tracked co-investors.
Media · Podcasts & interviews
featuring the teamGloria Baeuerlein at Puzzle Ventures & Europe’s Solo GP Revolution
The European VC · Gloria Baeuerlein
Similar investors
AirTree Ventures runs Pathfinders, a free four-week in-person program in Sydney for young builders (high-school graduates up to age 23) to work on a real product, access the AirTree team and founders, and build a peer network.
August Capital is a venture capital firm that invests in a small number of companies, providing hands-on support to entrepreneurs building their businesses.
.jpeg){kind=logo}
B Capital is a global investment firm backing early to late-stage technology innovators across technology, healthcare, and energy & resilience sectors.
Blueyard is a small equal partnership with offices in the US and Europe, investing in early-stage companies.
Breyer Capital is a venture capital firm that backs high-impact entrepreneurs, making strategic investments guided by founder passion and its network of experienced investors.