Fundraising Fox
Varys Capital
Venture capitalBangkok · Pre-Seed–Seed · 3 people tracked
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Investment thesis
Varys Capital operates around four pillars, with two central ones being venture investing and trading. On the venture side, it backs crypto and Web3 infrastructure and applications — investing in equity, tokens, and liquid positions and providing liquidity support to portfolio companies. On the trading side, it runs a quantitative, data-driven, mostly market-neutral (delta-neutral) desk that seeks alpha correlated with volatility, using ultra-low latency technology, HFT strategies, and proprietary risk indicators to outperform traditional indices, Bitcoin, and Ethereum over a three-year horizon. The firm also offers private wealth management, market-making, liquidity provisioning, treasury management, and go-to-market advisory services across the digital asset ecosystem.
Source: firm website, verified Aug 3, 2026.
Team · 3 people
from the firm's website
What they invest in
from 15 of 25 portfolio companiesCrypto & Web3 ×10Fintech ×9AI & Machine Learning ×5Enterprise Software ×5Data & Infrastructure ×3Deep Tech ×3Cloud Computing ×2Developer Tools ×2
HQs:United States×7
Who they back
founder profiles across 9 portfolio companiesFounding team size:solo founder×32 founders×43 founders×14+ founders×1
What their founders studiedfrom 11 founders with field-of-study data
Computer Science ×6Engineering ×2Finance & Accounting ×2Physics ×2
Where their founders worked beforefrom 12 founders with career history
GigSky ×2Motorola ×2
Investments · 25 tracked
founders shown can be your intro pathBy year:2026 · 12020 · 12019 · 13 dated
Argument builds systems for verifiable computing by combining zero-knowledge cryptography, formal verification, and distributed consensus technologies.
Crypto & Web3Deep TechDeveloper ToolsEnterprise SoftwareBoston, US
John Burnham(Founder)inGabriel Barreto(Founder)inSamuel Burnham(Founder)in
Co-investorsBig Brain HoldingsSamsung NextY CombinatorDWeb3 CapitalIOSG VenturesLombardstreet Ventures+6 more
Bloxtel provides a private 5G Standalone platform with patented dSIM technology for enterprise indoor cellular coverage.
AI & Machine LearningCloud ComputingCybersecurityEnterprise SoftwareFintechIoT
Izzo Wane(Co-Founder & CEO)inKarsten Ohme(Co-Founder & CTO)in
Co-investors500 GlobalRaptor Group
Credefi is a crypto lending platform that connects lenders with small and medium-sized enterprises seeking debt financing, with loans collateralized by real-world assets such as real estate and future receivables.
Crypto & Web3Fintech
Co-investorsMagnus CapitalPeech Capital
Hedera is a permissioned distributed ledger platform designed for enterprise applications, offering fast transaction finality, regulatory compliance, and institutional governance.
Crypto & Web3Enterprise SoftwareFintechRichardson, US
Mance Harmon(Chief Executive Officer, Manager)inLeemon Baird(Manager)in
Co-investorsBloccelerate VCBlockchain AssetsBlockwallDigital Currency GroupDigital StrategiesEterna Capital+12 more
Interval offers a privacy-first enterprise data platform that deploys into a company's cloud or on-premise environment to turn raw data into structured data assets using a verifiable AI framework.
AI & Machine LearningData & InfrastructureEnterprise SoftwareScottsdale, US
BoardShelley Huff(Manager of the Company)Maryam Banikarim(Manager of the Company)
Co-investorsArctic Digital
Lulubit is a mobile app for buying and selling Bitcoin, Ethereum, and over 30 cryptocurrencies, allowing users to deposit local currency from banks and wallets.
Crypto & Web3Fintech
Co-investorsAlliance DAO (ex DeFi Alliance)Lattice CapitalReverieSide Door Ventures
Minteo provides stablecoin infrastructure backed by liquid reserves, enabling cross-border money transfers in emerging markets, particularly Latin America.
Crypto & Web3Fintech
William Duran(Founder)in
Co-investorsFabric VenturesFJ LabsG20 VenturesBig Brain HoldingsDune VenturesSevenX Ventures+1 more
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Paragraph is a publishing platform with an integrated AI agent that automates content creation, editing, and distribution across multiple channels including blogs, newsletters, social media, and landing pages.
AI & Machine LearningCreator EconomySaaS
Denis Nazarov(Founder)
Co-investors2050A.Capital VenturesCatcherVCFourth Revolution Capital (4RC)IDEO CoLab VenturesIOSG Ventures+11 more
A ve(3,3) DEX on Sui designed to align liquidity providers, traders, and protocols through shared incentive structures.
San Francisco, US
Wendy F(Founder)
Co-investorsCastrum CapitalProtagonistRR2 Capital
Cooper Scanlon(Founder)Rushi Manche(Founder)
Co-investorsArchetypeBankless VenturesBorderless VentureCitizenX Crypto VenturesContinue CapitalEnigma Fund+17 more
Nexo is a platform that enables users to access financial services built on blockchain technology, including crypto-backed lending and digital asset management solutions.
AI & Machine LearningCrypto & Web3Fintech
Antoni Trenchev(Founder)inKosta Kantchev(Founder)in
Co-investorsBlack DragonNexoRR2 CapitalArrington XRP Capital
Nirvana Labs provides bare-metal cloud compute instances across three families optimized for different workloads, with pricing up to 37% lower than AWS equivalents.
AI & Machine LearningCloud ComputingData & InfrastructureDeep TechDeveloper ToolsEnterprise Software
Co-investorsCrucible CapitalHash3 CapitalLattice CapitalRaptor GroupCastle Island VenturesJump Crypto+1 more
Optimum applies Random Linear Network Coding (RLNC) to speed up blockchain data propagation, encoding transactions, blocks, and data blobs into resilient packets to reduce latency and bandwidth use.
Crypto & Web3Data & InfrastructureDeep Tech
Muriel Médard(Co-founder)inKishori Konwar(Co-founder)inKent Lin(Co-founder)in
Co-investors1kxCaladanGSRRobot VenturesTriton Capital1k(x)+3 more
Reya is a decentralized perpetuals exchange (DEX) built as a based-rollup on Ethereum, currently operating as an L2 on Arbitrum Orbit with zero gas fees, MEV protection, and yield-bearing collateral options like srUSD and wstETH.
Crypto & Web3Fintech
Co-investorsWintermuteFramework Ventures
Reya is a decentralized perpetuals exchange (DEX) built as an L2 on Arbitrum Orbit, offering high-speed trading with zero gas, MEV protection, and self-custody, along with yield-bearing collateral options such as srUSD and wstETH.
Crypto & Web3Fintech
Co-investorsBackedEntrepreneur FirstFabric VenturesRR2 Capital
Gaming studio building a AAA first-person extraction shooter
Ken Rosman(CEO)inAaron Nonis(Founder)Colin Foran(Founder)Don Norbury(Founder)Mark Long(Founder)
Co-investorsBixin CapitalBixin VenturesCVP NoLimitDragonflyMetastableNo Limit Holdings (NLH)+15 more
Sunspear Games develops IMMORTAL: Gates of Pyre, a real-time strategy video game featuring multiple playable factions and a supporting player community.
GamingMedford, US
Colter Hochstetler(Director)Dylan Kahn(Director)Ian Hunt(Director)
Co-investorsArca FundsHyperithmBlocktower Capital
Supra is a technology company providing cross-border B2B payment and collection services for importers and exporters.
Emilio Pardo Caicedo(Founder & CEO)in
Co-investorsHTwentyHyperithmAnimoca BrandsCoinbase VenturesFaculty GroupFar Out Ventures+14 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
ArtiesBrickkenConsumer LEVR Sports prediction marketExponentSunSpearTread Labs
Portfolio news
latest coverage across their companiesNexo · trysignalbase.com · Jun 12, 2026
Nirvana Labs · nirvanalabs.io · Dec 29, 2025
Lulubit · lulubit.app · Aug 29, 2025
Shrapnel · gamesbeat.com · Aug 13, 2025
Frequently asked questions
- How many investments has Varys Capital made?
- Varys Capital has 25 tracked investments, including 1 dated in the last 24 months.
- What stage does Varys Capital invest at?
- Varys Capital invests at the Pre-Seed, Seed stages.
- What sectors does Varys Capital focus on?
- Varys Capital focuses on AI & Machine Learning, B2B Marketplaces, Crypto & Web3, Data & Infrastructure, Fintech, Gaming.
- Where is Varys Capital located?
- Varys Capital is headquartered in Bangkok, TH.
- Who does Varys Capital co-invest with?
- Varys Capital most often shares deals with Raptor Group, RR2 Capital, Fabric Ventures, among 85 tracked co-investors.
Media · Podcasts & interviews
from their channelDevcon: Varys Capital Panel
Varys Capital
Dubai Eye's The Breakfast Show: Al Thani Investment, UAE Attractants, and Trump
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FundRock and Varys Capital Join Forces in the UAE
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What Can Santa Claus and Traffic Tell Us About Growth Potential in a Market?
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The Most Overlooked Consideration when Entering a Market
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