English
RussianDelphi Digital is a dynamic research-driven firm at the intersection of blockchain technology and traditional finance. Founded by a team of seasoned professionals, the firm is committed to providing cutting-edge insights and strategic analysis in the rapidly evolving digital asset space.
Investors Delphi Digital (Delphi Labs)
Delphi Digital (Delphi Labs)
Tier 1
Projects
77
Portfolio market cap
$5.97T
sum across all projects
Raised in these rounds
$782.7M
69 of 81 rounds with disclosed amounts
Tier
Tier 1
About the fund
Portfolio · 77
| Project | Price | Entry price | ROI | Stage | Date | Market cap | |
|---|---|---|---|---|---|---|---|
 Rhino.fiDVF | — | — | — | — | — | $5.96T | |
 EthenaENA | $0.2503 | — | — | — | — | $2.59B | |
 LayerZeroZRO | $2.02 | — | — | — | — | $808.1M | |
 Pyth NetworkPYTH | $0.0760 | — | — | — | — | $598.4M | |
 GrassGRASS | $0.7498 | — | — | — | — | $524.5M | |
 CelestiaTIA | $0.4665 | $0.3000 | 1.6x | Series A&B Round | $455.8M | ||
 Lido DAOLDO | $0.4591 | $0.7300 | 0.63x | Venture Round | $380.9M | ||
 JitoJTO | $0.5625 | — | — | — | — | $297.5M | |
 THORChainRUNE | $0.7856 | $0.0230 | 34x | Private Sale | $258.1M | ||
 dYdXDYDX | $0.1482 | — | — | — | — | $125.4M | |
 Nexus MutualNXM | $68.45 | $0.3433 | 199x | Seed Round | $113.7M | ||
 io.netIO | $0.1735 | — | — | — | — | $71.2M | |
 0G0G | $0.3059 | — | — | — | — | $65.2M | |
 AlloraALLO | $0.2648 | — | — | — | — | $53.1M | |
 NockchainNOCK | $0.0221 | — | — | — | — | $37.0M | |
 AnomaXAN | $0.0123 | — | — | — | — | $30.9M | |
 IlluviumILV | $4.14 | $3.00 | 1.4x | — | — | $30.4M | |
 ChainflipFLIP | $0.3042 | $0.5000 | 0.61x | — | — | $26.9M | |
 Yield Guild GamesYGG | $0.0280 | $0.0100 | 2.8x | — | — | $26.2M | |
 GRVTGRVT | $0.2244 | — | — | — | — | $25.7M | |
 InitiaINIT | $0.1191 | — | — | — | — | $24.9M | |
 CyberCYBER | $0.3175 | $3.00 | 0.11x | — | — | $24.7M | |
 CitreaCTR | $0.0127 | — | — | — | — | $19.1M | |
 JOEJOE | $0.0406 | — | — | — | — | $18.6M | |
 Heroes of MaviaMAVIA | $0.0341 | — | — | — | — | $8.5M | |
 AlchemixALCX | $2.73 | $700 | 0.00x | — | — | $7.2M | |
 SyndicateSYND | $0.007176 | — | — | — | — | $3.4M | |
 Karate CombatKARATE | $0.00002685 | $0.000545 | 0.05x | — | — | $1.8M | |
 Beta FinanceBETA | $0.001707 | $0.0200 | 0.09x | — | — | $1.7M | |
 Anchor ProtocolANC | — | $0.1000 | 0.04x | — | — | $1.2M | |
 375aiEAT | $0.004365 | $0.0750 | 0.06x | — | — | $930.4K | |
 Obol LabsOBOL | $0.002722 | $0.1000 | 0.03x | — | — | $881.8K | |
 SovrunSOVRN | $0.0009252 | $0.1000 | 0.01x | — | — | $781.9K | |
 Altered State MachineASTO | $0.002388 | — | — | — | — | $691.3K | |
 SipherSIPHER | $0.004829 | $0.0600 | 0.08x | — | — | $552.2K | |
 Aark DigitalAARK | $0.0008093 | — | — | — | — | $502.8K | |
 MetalCoreMCG | — | — | — | — | — | $435.9K | |
 AlmanakALMANAK | $0.001563 | $0.0430 | 0.04x | — | — | $420.1K | |
 Superfluid | $0.00389 | — | — | — | — | $397.7K | |
 Nyan HeroesNYAN | $0.000469 | $0.0460 | 0.01x | — | — | $190.2K | |
 MON ProtocolMON | $0.0002734 | $0.0990 | 0.00x | — | — | $162.3K | |
 HubbleHBB | $0.002326 | $0.3000 | 0.01x | — | — | $160.3K | |
 Mars ProtocolMARS | — | — | — | — | — | $143.5K | |
 Azuro ProtocolAZUR | $0.0005951 | — | — | — | — | $119.5K | |
 EclipseES | $0.000827 | — | — | — | — | $109.7K | |
 NeutronNTRN | — | $0.0900 | — | — | — | $102.8K | |
 Rainbow TokenRBW | $0.0004942 | $0.0330 | 0.01x | — | — | $97.2K | |
 PLAYPLAY | — | $0.0985 | — | — | — | $77.8K | |
 Crypto RaidersRAIDER | $0.001875 | $1.20 | 0.00x | — | — | $65.9K | |
 BlackPool TokenBPT | — | — | — | — | — | $51.0K | |
 Solrise FinanceSLRS | $0.0001625 | $0.0255 | 0.01x | — | — | $25.5K | |
 Covalent Query TokenCQT | — | $0.0850 | — | — | — | $20.4K | |
 MercurialMER | $0.00003247 | $0.0175 | 0.00x | — | — | $18.3K | |
 Param LabsPARAM | — | — | — | — | — | $14.6K | |
 Juice FinanceJUICE | — | — | — | — | — | $13.6K | |
 TOPIATOPIA | — | — | — | — | — | $8.0K | |
 RaiderTokenRAIDER | $0.001829 | $1.20 | 0.00x | — | — | — | |
 PixelversePIXFI | $0.00001778 | — | — | — | — | — | |
 FantonFTON | $0.00002111 | — | — | — | — | — | |
 FastLane Labs | — | — | — | — | — | — |
Showing 60 of 77 — the rest fall below this market-cap range.
Entry price and ROI come from the source's data for this fund. Stage and date are derived by matching the entry price against the project's rounds; where there is no match, a dash is shown.
Funding rounds · 81
| Project | Stage | Raised | Valuation | Date |
|---|---|---|---|---|
 TrueNorth | Pre-seed | $3.0M | $30.0M | |
| 375ai | Funding Round | $10.0M | $100.0M | |
| Almanak | Funding Round | $8.4M | $84.5M | |
 Questflow | Seed Round | $6.5M | $65.0M | |
 Nous Research | Seed Round | $20.0M | $200.0M | |
| 0G | Seed Round | $40.0M | $400.0M | |
| Almanak | Accelerator Program | — | — | |
| Initia | Series A | $14.0M | $350.0M | |
| Grass | Series A | — | — | |
 Valantis | Seed Round | $4.0M | $40.0M | |
 Legion | Seed Round | $2.0M | $20.0M | |
| Fanton | Seed Round | $1.0M | $10.0M | |
| Pixelverse | Funding Round | $5.5M | $55.0M | |
| Param Labs | Funding Round | $7.0M | $70.0M | |
 STON.fi | Funding Round | — | — | |
 Blade of God X | Funding Round | — | — | |
 Inference Labs Lead | Pre-seed | $2.3M | $23.0M | |
| 0G | Pre-seed | $35.0M | $350.0M | |
| Juice Finance | Funding Round | $1.0M | $10.0M | |
| Nyan Heroes | Strategic Round | — | — | |
| MetalCore | Funding Round | $5.0M | $50.0M | |
| Eclipse | Series A | $50.0M | $500.0M | |
| io.net | Series A | $30.0M | $300.0M | |
| Initia Lead | Seed Round | $7.5M | $75.0M | |
| Citrea | Seed Round | $2.7M | $27.0M | |
| Ethena | Seed Extension Round | $14.0M | $300.0M | |
| Allora | Funding Round | — | — | |
| MON Protocol | Strategic Round | — | — | |
 Pixelmon | Seed Round | $8.0M | $80.0M | |
 GG | Funding Round | — | — | |
| Nockchain | Seed Round | $5.0M | $50.0M | |
| Pyth Network | Strategic Round | — | — | |
| TOPIA Lead | Seed Round | $3.0M | $30.0M | |
| GRVT Lead | Seed Round | $5.0M | $50.0M | |
| Ethena | Seed Round | $6.5M | $65.0M | |
| Aark Digital | Seed Round | — | — | |
| Neutron | Seed Round | $10.0M | $90.0M | |
 HyperPlay | Series A | $12.0M | $120.0M | |
| Anoma | Funding Round | $25.0M | $250.0M | |
| FastLane Labs | Seed Round | $2.3M | $23.0M | |
 Astria | Seed Round | $5.5M | $55.0M | |
| Karate Combat | Funding Round | $18.0M | $60.0M | |
| Celestia | Series A&B Round | $55.0M | $300.0M | |
| Jito | Series A | $12.1M | $121.0M | |
 Flowdesk | Series A | $30.0M | $300.0M | |
| Azuro Protocol | Strategic Round | $4.0M | $40.0M | |
| Cyber | Series A | $15.0M | $300.0M | |
| MetalCore Lead | Funding Round | $15.0M | $150.0M | |
| Rainbow Token | Funding Round | $26.0M | $260.0M | |
| Crypto Raiders Lead | Venture Round | $6.0M | $120.0M | |
| Altered State Machine | Seed Round | $11.0M | $110.0M | |
| RaiderToken Lead | Venture Round | $6.0M | $120.0M | |
 Squads | Funding Round | $5.0M | $50.0M | |
| Mars Protocol Lead | Joint venture partipants | — | — | |
| Sovrun Lead | Series A | $10.0M | $100.0M | |
| Azuro Protocol | Seed Round | $3.5M | $35.0M | |
| Heroes of Mavia | Seed Round | $5.5M | $55.0M | |
| BlackPool Token | Venture Round | $6.0M | $60.0M | |
| Hubble | Seed | $3.6M | $30.0M | |
| Obol Labs | Seed Round | $4.0M | $50.0M | |
| Rainbow Token Lead | Seed Round | $5.0M | $33.0M | |
 Arrow Markets | Seed Round | $1.4M | $14.0M | |
| Beta Finance | Equity Round | $5.8M | $58.0M | |
| LayerZero | Venture Round | $6.3M | $63.0M | |
| JOE | Seed Round | $5.0M | $50.0M | |
| Sipher | Seed Sale | $6.8M | $60.0M | |
| Chainflip | Strategic Round | $5.8M | $45.0M | |
| Syndicate | Series A Round | $20.0M | $200.0M | |
| Superfluid | Seed Round | $9.0M | $90.0M | |
| dYdX | Series C | $65.0M | $650.0M | |
| Rhino.fi | Strategic Round | $5.0M | $50.0M | |
| Lido DAO | Funding Round | $22.0M | $220.0M | |
| Mercurial | Private Round | — | — | |
| Anchor Protocol | Private Sale | $20.0M | $100.0M | |
| Alchemix | Private Round | $4.9M | $1.78B | |
| Nexus Mutual | Venture Round | $2.7M | $27.0M | |
| Covalent Query Token | Private Round 2 | $2.6M | $85.0M | |
| Syndicate | Seed Round | $1.0M | $10.0M | |
| Illuvium | Seed | $4.5M | $30.0M | |
| Yield Guild Games Lead | Seed | $1.3M | $10.0M | |
| THORChain | Private Sale | $1.6M | $11.5M |
Focus areas
DeFi4
Infrastructure4
Crypto Treasury Assets3
Zero Knowledge2
Artificial Intelligence (AI)2
Blockchain Service2
Cross-Chain Communication1
Co-investors
Polychain Capital6 shared
Coinbase Ventures5 shared
Multicoin Capital5 shared
Stani Kulechov4 shared
Andreessen Horowitz (a16z)4 shared
The Spartan Group4 sharedFunds that most often back the same projects.