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The Spartan Group

Venture capitaloperating company · company profile

Singapore · Seed–Late Stage · 36 people tracked

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Investment thesis

Spartan Group focuses on the Web3 and crypto space, operating as an active venture investor that backs leading crypto companies and networks. Beyond direct investing, the firm serves as an advisor on Web3 M&A deals and capital raises, drawing on its crypto industry expertise, track record with established teams, and extensive network to build value alongside founders.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Late Stage
HQ
Singapore, SG
Instruments
Equity
Founded
2017
Last 12 months
1 investment
AUM
$500M
Tracked investments
9

Team · 36 people

from the firm's website & curated
Casper B. Johansen· Co-founder & Partner, Co-Head of Spartan Advisoryin
Kelvin Koh· Co-founder & Partner, CIO, Spartan Capitalin
Aditya Saraf· Executive Director, Portfolio Managerin
Alexander Laidlaw· Investment Analystin
Calvin Poon· Executive Directorin
Chase Goh· Operations Associate
Edward Lam· Director of Financein
Harry Bui· AI & Data Analyst
Helen Lyu· Events Leadin
Jiwon Kang· Executive Director, Head of Investor Relationsin
Jose Sanchez· Head of Research, Investment Associatein
Kenneth Lam· Executive Director, Fund Operationsin
Kyle Zhang· Finance & Fund Operations Analystin
Lexi Xiao· Operations Associate
Li Hui Teo· Head of Legal & Compliancein
Lionel Pek· Executive Directorin
Patrick Forster· Investment Analystin
Percy Chau· Data Analystin
Silver Ng· Associate
Tommy Chang· Executive Director
Wendy Chow· Legal & Compliance Associatein
Wenyi Huang· Executive Director, Group Operationsin
Yan Ma· Executive Directorin
Yu Chen· Analystin

Founder mafia

3 people who came through The Spartan Group went on to found or lead other companies.

What they invest in

from 5 of 9 portfolio companies

Crypto & Web3 ×3Fintech ×2AI & Machine Learning ×1Creator Economy ×1Data & Infrastructure ×1E-commerce ×1Enterprise Software ×1Hardware ×1

HQs:India×1United States×1

Investments · 9 tracked

founders shown can be your intro path

By year:2026 · 12024 · 22023 · 22021 · 27 dated

DFlowdflow.netMay 2026 · $100M

DFlow is a decentralized finance protocol offering a unified API for spot trading across aggregated Solana liquidity.

Co-investorsCircle VenturesCoinbase VenturesMulticoin CapitalPetRock CapitalWintermuteFramework Ventures+1 more

Lollilolli.comin𝕏Dec 2023

Rewards app allowing users to earn bitcoin when shopping online.

Alex Adelman(Founder & CEO)Matt Senter(Founder)

Co-investors2 Punks CapitalFermionFJ LabsNat TurnerNvested EquitySerena Ventures+20 more

Naosnaos.financeJan 2021

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

OP3Nop3n.worldMar 2023 · $28M

OPEN is an AI-powered mobile SuperApp that lets creators connect with and sell custom branded products to their audiences through real-time chat and shopping, handling design, manufacturing, logistics, and payments with no inventory.

Creator EconomyE-commerceSocial

Co-investorsAlumni VenturesSoma CapitalAnimoca BrandsBRV Capital ManagementDragonflyRepublic Crypto+1 more

Originoriginprotocol.comin𝕏

Origin Protocol builds onchain yield products such as automatically-compounding ERC-20 tokens that generate staking and arbitrage returns, along with governance and yield-forwarding mechanisms.

Crypto & Web3FintechSan Francisco, US

Josh Fraser(Founder)inMatthew Liu(Founder)inRafael Ugolini(CEO)

Co-investorsContinue CapitalEterna Capitalgumi IncPantera CapitalSora VenturesTenzor Capital+3 more

Overworldoverworld.gamesFeb 2024 · $10M

R&D studio building local-first diffusion world models that run in real time on consumer hardware.

Jeremy Horn(Founder)

Co-investorsHashedSignum CapitalAmplify.LAEast Sunshine VenturesGalaxy InteractiveGarage Capital+3 more

Puffpawpuffpaw.xyz𝕏Sep 2024 · $6M

Puffpaw manufactures smart vapes with Bluetooth connectivity that track vaping activity and reward users with cryptocurrency tokens for reducing nicotine intake.

Crypto & Web3HardwareHealthtech

Co-investorsHypersphere VenturesLemniscapFolius VenturesKaratageSeed Club VenturesSocial Graph Ventures+2 more

Reclaim Protocolreclaimprotocol.orgin𝕏Series A

Reclaim Protocol provides automated credential verification across employment, education, loyalty, and other categories using AI-assisted connectors and cryptographic verification.

AI & Machine LearningData & InfrastructureEnterprise SoftwareHR TechHyderabad, IN

Madhavan Malolan(Founder)inSriharsha Karamchati(Founder)inSubhash Karri(COO)inAbhilash Inumella

Co-investorsLemniscapY CombinatorAlameda ResearchCoinbase VenturesDragonflyHashed+2 more

Tokensofttokensoft.ioin𝕏Nov 2021 · $28.8M

Tokensoft provides compliance and community management automation for token events and fundraising, serving blockchain projects and founders.

Crypto & Web3FintechSaaS

Co-investorsAmentum Investment ManagementF-Prime CapitalAlameda ResearchCoinFundConsenSysDeFiance Capital+7 more

Portfolio news

latest coverage across their companies
DFlow Raises $5.5M in Series A | Signalbase

DFlow · trysignalbase.com · Mar 25, 2026

Frequently asked questions

How many investments has The Spartan Group made?
The Spartan Group has 9 tracked investments, including 1 dated in the last 24 months.
What stage does The Spartan Group invest at?
The Spartan Group invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What sectors does The Spartan Group focus on?
The Spartan Group focuses on Crypto & Web3.
Where is The Spartan Group located?
The Spartan Group is headquartered in Singapore, SG.

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