Crypto is where Daxos started, and it is still the biggest part of what we do. We are crypto natives with roots in trading, finance, tech, and poker. We back the venues, rails and infrastructure that move value more than single apps, and we avoid copycats and pure derivatives.

We write $100,000 to $500,000 pre-seed and seed checks and typically co-invest alongside a lead. Here is what we look at.

• Spot, perpetuals and on-chain trading venues. Order-book and matching-engine startups. Centralized and decentralized exchanges.

• On-chain marketplaces, digital-collectible markets, and real-world-asset (RWA) markets.

• Self-custodial wallets and smart-wallet infrastructure, and the onchain finance apps built on them.

• Stablecoin rails, on-ramps and off-ramps, cross-border payments, and neobanks.

• Layer-2s and Bitcoin layers, bridges and oracles, data and indexing, on-chain analytics, vault and yield infrastructure, and developer tools.

• Launchpads, token-distribution rails and fair-launch mechanics.

• Novel on-chain primitives and new architecture, and consumer-facing crypto products with real users.

• On-chain lending and yield, derivatives and structured products, and the infrastructure under them.

A few of the blockchain/crypto companies in our portfolio:

• Xverse, a self-custodial Bitcoin wallet and onchain finance app.
• Bubblemaps, which turns blockchain data into visual maps of token holders and fund flows.
• Saturn, a stablecoin and onchain credit protocol.
• Vest Markets, a decentralized exchange for zero-fee trading of crypto and equities.
• Pear Protocol, which lets traders go long one token and short another in a single trade.
• Raze, a platform for tokenizing real-world assets onchain.
• pump.fun, where anyone can launch a tradable token in one click.

See the full portfolio.

Raising a pre-seed or seed round in crypto? Pitch us directly, no warm intro needed, at daxos.capital/apply. If there is interest, you hear back within 72 hours. See the full list of what we invest in.