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Our investment focus

We invest across the sectors where decentralized technologies and emerging innovations are transforming industries.

Nine sectors, one thesis.

Technology that makes finance, ownership and infrastructure more open, efficient and global.

Infrastructure for a decentralized internet

Web3 & Blockchain

Blockchain infrastructure and Web3 products that move value, data and identity onto open networks, from developer tooling to enterprise blockchain solutions.

  • Blockchain infrastructure and developer tooling
  • Enterprise blockchain solutions
  • Wallets, identity and data layers
  • Cybersecurity for Web3
Intelligent systems and AI-native products

Artificial Intelligence (AI)

AI companies with defensible technology and clear paths to revenue, including products that combine AI with blockchain for verifiable data, automation and new digital services.

  • AI-native applications
  • Data and machine learning infrastructure
  • AI and blockchain convergence
  • Automation for finance and enterprise
Open financial protocols and markets

Decentralized Finance (DeFi)

Protocols that make financial services open, transparent and programmable: trading, lending, liquidity and yield, built for real users and sustainable economics.

  • Exchanges and liquidity protocols
  • Lending, borrowing and staking
  • On-chain asset management
  • DeFi risk and analytics tools
Assets issued, held and traded on-chain

Digital Assets & Tokenization

The platforms and services that bring assets on-chain and make them easier to issue, hold, manage and trade securely.

  • Tokenization platforms
  • Custody and digital asset services
  • Stablecoins and payment tokens
  • NFTs and digital ownership
Base networks and scaling solutions

Layer 1 & Layer 2 Protocols

Base-layer networks and scaling solutions that make blockchains faster, cheaper and more interoperable for the applications built on them.

  • Layer 1 networks
  • Layer 2 and rollup solutions
  • Interoperability and bridges
  • Node and validator infrastructure
Payments, banking and financial access

FinTech & Payment Solutions

Fintech companies modernizing how people and businesses pay, save and access financial services, including crypto payment rails and cross-border solutions.

  • Crypto payment gateways
  • Cross-border payments and remittance
  • Digital banking and neobanks
  • Compliance and regtech
Real-world value, brought on-chain

Real World Assets (RWA)

Companies connecting real-world value such as property, commodities, credit and other financial instruments to blockchain networks, with the legal and technical foundations to do it properly.

  • Tokenized real estate and commodities
  • On-chain credit and private markets
  • Asset verification and oracles
  • RWA compliance infrastructure
Games, virtual worlds and digital economies

GameFi & Metaverse

Games and virtual worlds where players own their assets, and the infrastructure that powers sustainable digital economies.

  • Web3 games and studios
  • Virtual worlds and metaverse platforms
  • In-game assets and NFTs
  • Gaming infrastructure and tooling
Next-generation computing infrastructure

Cloud & Emerging Technologies

Cloud platforms and emerging technologies that give the next generation of digital products the compute, storage and security they need to scale.

  • Decentralized cloud and storage
  • Cybersecurity
  • Edge and distributed computing
  • Other emerging technologies

What we look for

Across every sector, we back companies with three things in common.

Scalable business models

Clear paths to revenue and growth that can scale across markets.

Strong technical foundations

Teams with real technical depth and products built to last.

Long-term global impact

Companies with the potential to transform industries worldwide.

Investing in the technologies that will shape the future.

Building something that could transform an industry? Tell us about your company and we’ll get back to you by email.