Token Bay Capital
Venture capitalAbu Dhabi · Pre-Seed–Series A · 1 people tracked
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 14 of 20 portfolio companiesCrypto & Web3 ×13Fintech ×6AI & Machine Learning ×4SaaS ×4Data & Infrastructure ×3Developer Tools ×2B2B Marketplaces ×1Cleantech ×1
HQs:United Arab Emirates×2Hong Kong×2United States×2United Kingdom×1
Investments · 20 tracked
founders shown can be your intro path
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 & CEO)Robby Yungin
PartnerLucy Gazmararian· solo GP
Co-investors2080 Ventures500 GlobalA'Z AngelsAdit Ventures Management, LlcAlpha Wave GlobalAppWorks Ventures+37 more
Aspen Digital is a regulated digital asset investment platform for private wealth clients, offering capital markets access, private wealth management, and white-label SaaS infrastructure so wealth managers and family offices can build and manage crypto portfolios.
Crypto & Web3FintechSaaS
PartnerLucy Gazmararian· solo GP
Co-investorsRIT Capital Partners
PartnerLucy Gazmararian· solo GP
Hex Trust builds technology platforms serving large financial institutions in the banking and finance sector.
Crypto & Web3Enterprise SoftwareFintech
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
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 offers advisory services for tokenizing real-world assets (RWA), providing guidance on compliance, legal, and cost efficiency throughout the RWA tokenization process.
Crypto & Web3Fintech
PartnerLucy Gazmararian· solo GP
Co-investorsCoinbase VenturesSPiCE VC
IX Swap (IXS) provides infrastructure for tokenizing, distributing, and trading regulated real-world assets, offering tokenized yield exposure to U.S.
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 HorowitzFlint Capital
PartnerLucy Gazmararian· solo GP
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(CEO)inNirmal AK(CTO)inRaina Goyal
PartnerLucy Gazmararian· solo GP
Co-investors500 GlobalDigital Currency GroupEntrepreneur FirstFenbushi CapitalK3 VenturesTriton Capital
Soter provides institutional-grade insurance products for the digital asset and Web3 ecosystem, covering risks such as theft and loss, crime, slashing, smart contract vulnerabilities, and D&O.
Crypto & Web3FintechInsurTech
PartnerLucy Gazmararian· solo GP
Co-investorsPharsalus CapitalBrevan Howard DigitalCoinbase VenturesFranklin TempletonFurther VenturesKaratage
Supra is a Layer 1 blockchain with vertically integrated core services, offering a MultiVM environment that supports Aptos Move, EVM Solidity, SVM Rust, and CosmWasm smart contracts.
Crypto & Web3Data & InfrastructureDeveloper Tools
PartnerLucy Gazmararian· solo GP
Co-investorsAndromeda CapitalCastrum CapitalCoinbase VenturesCVP NoLimitDeepTech VenturesGhaf Capital Partners+2 more
Sustainable Bitcoin Protocol provides tokenized instruments (SBP Tokens) tied to independently audited energy verification data for Bitcoin mining facilities.
CleantechCrypto & Web3EnergyAbu Dhabi, AE
PartnerLucy Gazmararian· solo GP
Co-investorsNew Layer Capital
Taiko is an open, community-driven project focused on scaling Ethereum.
Crypto & Web3Developer Tools
PartnerLucy Gazmararian· solo GP
Co-investorsBollinger Investment GroupFactionGenerative VenturesIOSG VenturesMapleblock CapitalSancus Ventures+5 more
PartnerLucy Gazmararian· solo GP
Yuga Labs is the company behind the Bored Ape Yacht Club (BAYC) NFT collection and ApeCoin (APE).
PartnerLucy Gazmararian· solo GP
Co-investorsA.Capital Venturesa16z cryptoAlpha Wave GlobalAndreessen HorowitzArcane GroupJustin “3LAU” Blau+5 more
Zodia Markets provides digital asset brokerage and exchange services for institutional clients, including over-the-counter trading with voice and electronic settlement and multi-local rail accounts for cross-border capital movement.
Crypto & Web3FintechLondon, GB
Nick Philpott(Founder)
PartnerLucy Gazmararian· solo GP
Co-investorsSC VenturesPharsalus CapitalPolymorphic Capital
Portfolio news
latest coverage across their companiesSoter · arabfounders.net · Aug 3, 2026
Animoca Brands · cryptobriefing.com · Jun 25, 2026
Leo AI · trysignalbase.com · Oct 17, 2025
Frequently asked questions
- How many investments has Token Bay Capital made?
- Token Bay Capital has 20 tracked investments.
- 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, Fenbushi Capital, among 76 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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