Fundraising Fox
Token Bay Capital
Venture capitalAbu Dhabi · Pre-Seed–Series A · 1 people tracked
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Investment thesis
Token Bay Capital backs founders building infrastructure and decentralized applications across the digital asset ecosystem. The firm invests in blockchain and crypto startups, with a presence in Abu Dhabi.
Source: firm website, verified Aug 3, 2026.
Team · 1 people
from the firm's website
What they invest in
from 16 of 22 portfolio companiesCrypto & Web3 ×14Fintech ×8SaaS ×5AI & Machine Learning ×4Data & Infrastructure ×3Developer Tools ×2Gaming ×2AgTech ×1
HQs:United States×4Hong Kong×3United Arab Emirates×2United Kingdom×1Singapore×1
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×52 founders×44+ founders×1
Where their founders worked beforefrom 10 founders with career history
Barclays ×2IXS Finance ×2
Investments · 22 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 22022 · 22021 · 12017 · 17 dated
Animoca Brands invests in blockchain and digital asset projects across gaming, infrastructure, culture, and real-world asset categories, with a portfolio of 600+ companies and a focus on Web3 ecosystem development.
B2B MarketplacesCrypto & Web3GamingSector Agnostic
Yat Siu(Founder)Robby YunginDavid J. Kim(Founder)
PartnerLucy Gazmararian· solo GP
Co-investors2080 Ventures500 GlobalA'Z AngelsAdit Ventures Management, LlcAlpha Wave GlobalAppWorks Ventures+50 more
Aspen Digital provides infrastructure software for family offices and wealth managers to offer digital assets services to their clients.
Crypto & Web3FintechSaaSAbu Dhabi, AE
PartnerLucy Gazmararian· solo GP
Co-investorsRIT Capital Partners
PartnerLucy Gazmararian· solo GP
Co-investorsInterplay Ventures Early Stage Management Llc
Hex Trust builds technology platforms serving large financial institutions in the banking and finance sector.
Crypto & Web3Enterprise SoftwareFintech
Alessio Quaglini(Founder & CEO)in
PartnerLucy Gazmararian· solo GP
Co-investorsEterna CapitalFenbushi CapitalQBN CapitalRyze LabsWintermuteInjective+5 more
Ika is a decentralized MPC network on Solana that introduces "dWallets," a primitive splitting signing authority between users and Solana programs to control native assets on other blockchains without bridges or centralized custody.
AI & Machine LearningCrypto & Web3Data & Infrastructure
Omer Sadika(Founder)in
PartnerLucy Gazmararian· solo GP
Co-investorsBig Brain HoldingsCollider VenturesCVP NoLimitFlowdeskLvna CapitalNo Limit Holdings (NLH)+3 more
Infinity Force provides IT consulting and application development services, building software using artificial intelligence, B2B SaaS, and blockchain technologies.
AI & Machine LearningCrypto & Web3SaaS
PartnerLucy Gazmararian· solo GP
InvestaX is a blockchain-based investment platform that tokenizes various asset classes including private equity, private debt, funds, real estate, and NFTs, allowing users to buy, trade, and earn economic interest or revenue streams from diversified holdings.
AgTechCrypto & Web3FintechSaaSSingapore, SG
Julian Kwan(Co-Founder)inS.Alice Chen(Co-Founder)in
PartnerLucy Gazmararian· solo GP
Co-investorsCoinbase VenturesGlobal Blockchain VenturesSPiCE VCTaisu Ventures500 GlobalBalaji Srinivasan+2 more
IXS Finance provides financial services and capital markets infrastructure, combining expertise in regulated financial operations, compliance, and engineering.
Crypto & Web3Data & InfrastructureFintech
PartnerLucy Gazmararian· solo GP
Leo AI provides a suite of AI tools for teachers to automate grading and create teaching material, including assignment creation, rubric generation, exercise questions, and letters of recommendation.
AI & Machine LearningEdTechSaaS
PartnerLucy Gazmararian· solo GP
Co-investorsAndreessen Horowitz
MANTRA is a modular, compliance-oriented Layer 1 blockchain built for DeFi and real-world asset (RWA) tokenization.
Co-investorsLvna CapitalShorooq PartnersWWVentures14WAlumni VenturesBaleon Capital+8 more
PartnerLucy Gazmararian· solo GP
Merkle Trade operated a decentralized trading platform in the DeFi space, serving retail crypto traders.
Crypto & Web3Fintech
Ye Park(Founder)Patrick Park(Founder)
Co-investorsArrington CapitalHashedArrington XRP CapitalBECO CapitalDarrow HoldingsFenbushi Capital+5 more
Merkle Science provides AI-powered blockchain analytics and predictive risk tools for cryptocurrency compliance, forensic investigations, and threat detection.
AI & Machine LearningCrypto & Web3CybersecuritySaaSBrooklyn, US
Mriganka Pattnaik(Founder)inNirmal AK(Founder)in
PartnerLucy Gazmararian· solo GP
Co-investors500 GlobalDigital Currency GroupEntrepreneur FirstFenbushi CapitalK3 VenturesK3V Ventures+4 more
Soter offers insurance products for companies operating in digital assets and blockchain, including directors and officers, professional indemnity, technology PI, crime and specie, and crypto-specific coverage such as ETH slashing and smart contract insurance.
Crypto & Web3FintechInsurTech
Henson Orser(Founder & CEO)in
PartnerLucy Gazmararian· solo GP
Co-investorsPharsalus CapitalAV8 VenturesBrevan Howard DigitalCoinbase VenturesFranklin TempletonFurther Ventures+4 more
Supra provides blockchain oracle services that deliver data feeds to smart contracts and decentralized applications.
Crypto & Web3Data & InfrastructureDeep TechDeveloper ToolsWashington, US
Jonathan Nelms(Managing Member)in
PartnerLucy Gazmararian· solo GP
Co-investorsAndromeda CapitalBitDAOCastrum CapitalCoinbase VenturesCVP NoLimitDeepTech Ventures+15 more
Sustainable Bitcoin Protocol verifies clean energy sources behind Bitcoin mining and creates attestation records (SBP tokens) that enable climate-focused investment funds to hold Bitcoin while meeting ESG disclosure requirements.
CleantechClimate TechCrypto & Web3EnergyFintechAbu Dhabi, AE
PartnerLucy Gazmararian· solo GP
Co-investorsNew Layer Capital
Taiko is an open, community-driven project focused on scaling Ethereum.
Crypto & Web3Developer Tools
Daniel Wang(Founder)inBrecht Devos(Founder)
PartnerLucy Gazmararian· solo GP
Co-investorsBollinger Investment GroupFactionGenerative VenturesHashedIOSG VenturesL2 Iterative Ventures (L2IV)+13 more
Talon is an esports, culture, and lifestyle platform operating seven professional esports teams across five Asian markets, along with its own creative studio for esports marketing, content creation, and activations.
GamingMedia & EntertainmentSports TechHong Kong, HK
Xiao (Sean) Zhang(Founder)in
PartnerLucy Gazmararian· solo GP
Co-investorsFoxmont Capital PartnersWidus PartnersAnimoca BrandsBlackPineHana Ventures
Yuga Labs is the company behind the Bored Ape Yacht Club (BAYC) NFT collection and ApeCoin (APE).
Coral Gables, US
Gargamel(Founder)Gordon(Founder)Greg Solano(Founder)Kerem Atalay(Founder)Nicole Muniz(Founder)Sass(Founder)
PartnerLucy Gazmararian· solo GP
Co-investors10T FundA.Capital Venturesa16z cryptoAlpha Wave GlobalAndreessen HorowitzArcane Group+11 more
Zodia Markets provides institutional digital asset trading services, including an OTC brokerage with voice and electronic settlement and a digital asset exchange platform.
Crypto & Web3FintechLondon, GB
Nick Philpott(Founder)
Co-investorsSC VenturesPharsalus CapitalPolymorphic CapitalCircle VenturesHuman Capital
Frequently asked questions
- How many investments has Token Bay Capital made?
- Token Bay Capital has 22 tracked investments, including 1 dated in the last 24 months.
- What stage does Token Bay Capital invest at?
- Token Bay Capital invests at the Pre-Seed, Seed, Series A stages.
- What sectors does Token Bay Capital focus on?
- Token Bay Capital focuses on Crypto & Web3.
- Where is Token Bay Capital located?
- Token Bay Capital is headquartered in Abu Dhabi, AE.
- Who does Token Bay Capital co-invest with?
- Token Bay Capital most often shares deals with Coinbase Ventures, CVP NoLimit, Hashed, among 103 tracked co-investors.
Media · Podcasts & interviews
featuring the teamThe crypto revolution: Lucy Gazmararian, Token Bay Capital, on the UAE's crypto leadership
SuperReturnTV · Lucy Gazmararian
Silver, Gold & Cryptos | Lucy Gazmararian, Token Bay Capital | Amit Goel, PACE 360 | The Big C N18V
CNBC-TV18 · Lucy Gazmararian
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