English
RussianMulticoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets. They manage a hedge fund and several venture funds, investing across both public and private markets.
Investors Multicoin Capital
Multicoin Capital
Tier 1Lead investor
Projects
105
Portfolio market cap
$90.50B
sum across all projects
Raised in these rounds
$5.61B
125 of 132 rounds with disclosed amounts
Tier
Tier 1
Lead investor
About the fund
Portfolio · 105
| Project | Price | Entry price | ROI | Stage | Date | Market cap | |
|---|---|---|---|---|---|---|---|
 SolanaSOL | $121 | $0.1787 | 676x | — | — | $71.04B | |
 NEAR ProtocolNEAR | $5.01 | $0.0894 | 56x | — | — | $6.55B | |
 WorldWLD | $0.5932 | — | — | — | — | $2.25B | |
 Internet ComputerICP | $3.31 | $4.58 | 0.72x | Pre-Sale | $1.85B | ||
 AlgorandALGO | $0.1288 | $2.40 | 0.05x | Public Sale | $1.17B | ||
 RenderRENDER | $1.95 | $0.2500 | 7.8x | Public Sale | $1.01B | ||
 LayerZeroZRO | $2.02 | — | — | — | — | $807.2M | |
 AptosAPT | $0.7993 | — | — | — | — | $696.4M | |
 Pyth NetworkPYTH | $0.0796 | — | — | — | — | $627.1M | |
 GrassGRASS | $0.7729 | — | — | — | — | $540.6M | |
 SeiSEI | $0.0719 | $0.0415 | 1.7x | — | — | $484.0M | |
 StarkNetSTRK | $0.0432 | — | — | — | — | $320.5M | |
 BackpackBP | $1.27 | — | — | — | — | $316.7M | |
 The GraphGRT | $0.0283 | $0.00220588 | 13x | — | — | $309.4M | |
 JitoJTO | $0.5636 | — | — | — | — | $297.9M | |
 ArweaveAR | $4.42 | $0.1320 | 33x | Community Token Sale part 1 | $289.9M | ||
 THORChainRUNE | $0.7962 | $0.0230 | 35x | Private Sale | $261.6M | ||
 ZamaZAMA | $0.0859 | $0.0500 | 1.7x | Public Sale | $218.9M | ||
 Mina ProtocolMINA | $0.1612 | $0.2000 | 0.81x | — | — | $207.5M | |
 DoubleZero2Z | $0.0458 | — | — | — | — | $159.1M | |
 GeodnetGEOD | $0.2973 | — | — | — | — | $139.0M | |
 HeliumHNT | $0.5488 | — | — | — | — | $102.3M | |
 WormholeW | $0.0144 | $0.2500 | 0.06x | Funding Round | $95.1M | ||
 LivepeerLPT | $1.72 | $3.00 | 0.57x | Seed | $85.5M | ||
 FTX TokenFTT | $0.2567 | $0.4167 | 0.62x | — | — | $84.4M | |
 GalxeGAL | $0.5825 | $1.50 | 0.39x | Public Sale | $74.4M | ||
 io.netIO | $0.1737 | — | — | — | — | $71.3M | |
 Nervos NetworkCKB | $0.001316 | $0.006 | 0.22x | Private Round | $65.3M | ||
 Manta NetworkMANTA | $0.0711 | $0.0085 | 8.4x | — | — | $34.3M | |
 Gravity (prev. GAL)G | $0.00471 | — | — | — | — | $34.1M | |
 Across ProtocolACX | $0.0427 | — | — | — | — | $30.8M | |
 SKALESKL | $0.004751 | $0.0095 | 0.50x | — | — | $29.4M | |
 MetaplexMPLX | $0.0611 | — | — | — | — | $28.8M | |
 Frax (prev. FXS)FRAX | $0.2983 | — | — | — | — | $27.9M | |
 CyberCYBER | $0.3192 | $3.00 | 0.11x | — | — | $24.8M | |
 AudiusAUDIO | $0.0169 | — | — | — | — | $24.7M | |
 EnsoENSO | $1.00 | $1.40 | 0.71x | — | — | $20.6M | |
 Coin98C98 | $0.0162 | $0.0500 | 0.32x | — | — | $16.2M | |
 BraintrustBTRST | $0.0592 | $3.00 | 0.02x | — | — | $14.3M | |
 MobileCoinMOB | $0.0658 | $0.8000 | 0.08x | — | — | $13.0M | |
 Artificial Liquid IntelligenceALI | $0.001251 | $0.0389 | 0.03x | — | — | $12.3M | |
 Drift ProtocolDRIFT | $0.0200 | — | — | — | — | $12.2M | |
 saffron.financeSFI | $117 | — | — | — | — | $11.7M | |
 Verona (prev. XION)VERONA | $0.1153 | — | — | — | — | $10.7M | |
 KadenaKDA | $0.009069 | $0.6250 | 0.01x | — | — | $3.0M | |
 MATHMATH | $0.0261 | — | — | — | — | $3.0M | |
 Perpetual ProtocolPERP | $0.0213 | $0.0800 | 0.27x | — | — | $2.8M | |
 Pipe NetworkPIPE | $0.0274 | $0.2000 | 0.14x | — | — | $2.7M | |
![Augur [OLD]](/img/px?u=aHR0cHM6Ly9kcm9wc3RhYi5jb20vX2dhdGV3YXkvc3RhdGljL2ltYWdlcy9hdWd1ci5zdmc=){kind=small} Augur [OLD]REP | $0.2403 | $0.6020 | 0.40x | — | — | $2.6M | |
 Jenny Metaverse DAO TokenUJENNY | — | — | — | — | — | $2.5M | |
 FluenceFLT | $0.005748 | $0.0500 | 0.11x | — | — | $2.0M | |
 Aladdin DAOALD | $0.0126 | — | — | — | — | $1.9M | |
 SerumSRM | $0.006629 | $0.0500 | 0.13x | — | — | $1.7M | |
 Beta FinanceBETA | $0.001707 | $0.0200 | 0.09x | — | — | $1.7M | |
 Mountain Protocol USDUSDM | — | — | — | — | — | $1.4M | |
 UXD Protocol TokenUXP | $0.0001967 | $0.003 | 0.07x | — | — | $1.4M | |
 Superfluid | $0.003891 | — | — | — | — | $397.8K | |
 MezoMEZO | $0.00418 | — | — | — | — | $359.4K | |
 OpenOceanOOE | $0.0004399 | $0.0325 | 0.01x | — | — | $252.7K | |
 SaberSBR | $0.00008104 | $0.0049738 | 0.02x | — | — | $215.4K |
Showing 60 of 105 — 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 · 132
| Project | Stage | Raised | Valuation | Date |
|---|---|---|---|---|
| Grass | Funding Round | — | — | |
 Trasia | Seed Round | $1.8M | $17.5M | |
 Fun Lead | Series A | $72.0M | $720.0M | |
 Exponent Lead | Seed Round | $5.0M | $50.0M | |
 Novig | Series B | $75.0M | $500.0M | |
 LI.FI Lead | Extended Series A Round | $29.0M | $290.0M | |
 Inference Lead | Seed Round | $11.8M | $118.0M | |
 CrunchDAO | Strategic Round | $5.0M | $50.0M | |
 Forward Industries Lead | PIPE | $1.65B | $16.50B | |
 Kalshi | Series C | $185.0M | $2.00B | |
 Yield.xyz | Strategic Round | $5.0M | $50.0M | |
 Gradient Network Lead | Seed Round | $10.0M | $100.0M | |
 P2P.me | Seed Round | $2.0M | $20.0M | |
| DoubleZero Lead | Private Token Sale | $28.0M | $400.0M | |
| Across Protocol | Private Token Sale | $41.0M | $410.0M | |
 FanTV | Funding Round | $5.5M | $55.0M | |
| Geodnet Lead | Strategic Round | $8.0M | $80.0M | |
 Mevvy Lead | Seed Round | $2.8M | $28.0M | |
| Drift Protocol Lead | Series B | $25.0M | $250.0M | |
| Pipe Network Lead | Funding Round | $10.0M | $100.0M | |
| Gradient Network | Funding Round | — | — | |
 Fuse Lead | Strategic Round | $12.0M | $120.0M | |
 zkMe Lead | Seed Round | $4.0M | $40.0M | |
| CrunchDAO Lead | Seed Round | $3.5M | $35.0M | |
| Mountain Protocol USD Lead | Series A | $8.0M | $80.0M | |
 El Dorado Lead | Seed Round | $3.0M | $30.0M | |
 Arch Network Lead | Seed Round | $7.0M | $70.0M | |
 Baxus Lead | Seed Round | $5.0M | $50.0M | |
| Mezo | Series A | $21.0M | $210.0M | |
| Verona (prev. XION) | Series A | $25.0M | $250.0M | |
| Zama Lead | Series A Round | $73.0M | $730.0M | |
| io.net | Series A | $30.0M | $300.0M | |
| Superfluid | Funding Round | $5.1M | $51.0M | |
 GLIF Lead | Seed Round | $4.5M | $45.0M | |
 Marginfi | Funding Round | $3.0M | $30.0M | |
| Pyth Network | Strategic Round | — | — | |
| Wormhole | Funding Round | $225.0M | $2.50B | |
 Squads | Strategic Round | $5.7M | $57.0M | |
 Blackbird Lead | Seed Round | $11.0M | $110.0M | |
 Fhenix Lead | Seed Round | $7.0M | $70.0M | |
 FastLane Labs Lead | Seed Round | $2.3M | $23.0M | |
 Tableland | Series A | $8.0M | $80.0M | |
| Sei | Series A | $30.0M | $800.0M | |
 Fin (Prev. TipLink) Lead | Seed Round | $6.0M | $60.0M | |
| Backpack | Strategic Round | $20.0M | $200.0M | |
 Hubble Lead | Strategic Fundraise | $5.0M | $50.0M | |
| Sei Lead | Seed Round | $5.0M | $30.8M | |
| Jito Lead | Series A | $12.1M | $121.0M | |
| Aptos | Series A | $150.0M | $1.50B | |
 Farcaster | Funding Round | $30.0M | $300.0M | |
 Community Gaming | Series A | $16.0M | $160.0M | |
| Aptos | Strategic Round | $200.0M | $2.00B | |
| Squads Lead | Funding Round | $5.0M | $50.0M | |
| Helium | Series D Round | $200.0M | $2.00B | |
| Fluence Lead | Series A | $9.0M | $90.0M | |
| The Graph | Funding Round | $205.0M | $2.05B | |
| Verona (prev. XION) | Series A | $8.0M | $80.0M | |
 Web3Auth | Series A | $13.0M | $130.0M | |
 Exotic Markets Lead | Venture Round | $5.0M | $50.0M | |
 Dune Analytics | Series B Round | $69.4M | $694.2M | |
| Artificial Liquid Intelligence | Auction | $12.4M | $678.0M | |
| Render Lead | Venture Round | $30.0M | $300.0M | |
| Gravity (prev. GAL) Lead | Backers | $10.0M | $100.0M | |
| Galxe Lead | Growth Backer Round 1 | $10.0M | $100.0M | |
| Cyber Lead | Seed Funding (Equity+SAFT) | $10.0M | $100.0M | |
| Drift Protocol Lead | Seed Round | $3.8M | $38.0M | |
 Timeswap | Seed Round | — | — | |
| World | Seed Round | $25.0M | $1.00B | |
| Beta Finance | Equity Round | $5.8M | $58.0M | |
| LayerZero Lead | Venture Round | $6.3M | $63.0M | |
 EDEN Lead | Seed Round | $17.4M | $174.0M | |
| UXD Protocol Token Lead | Seed Round | $3.0M | $30.0M | |
 Strips Finance Lead | Private Round | $8.5M | $85.0M | |
| Helium | Private Round | $111.0M | $1.11B | |
| Artificial Liquid Intelligence | Private Round | $16.0M | $100.0M | |
| Saber | Seed Round | $7.7M | $49.7M | |
| Superfluid Lead | Seed Round | $9.0M | $90.0M | |
| Community Gaming | Seed Round | $2.3M | $23.0M | |
| Dune Analytics | Series A Round | $8.0M | $80.0M | |
 Grape Protocol Lead | Seed Round | $1.2M | $10.0M | |
| FTX Token | Series B | $900.0M | $9.00B | |
| Solana | Private Sale | $314.1M | $3.14B | |
| Coin98 | Strategic Round | $11.2M | $75.0M | |
| OpenOcean | Private Round | $1.7M | $40.0M | |
| Verona (prev. XION) | Seed Round | $3.0M | $30.0M | |
| Jenny Metaverse DAO Token Lead | Seed Round | $7.0M | $70.0M | |
| OpenOcean | Strategic Round | $1.4M | $25.0M | |
 Realy Metaverse Lead | Seed Round | — | — | |
| Enso | Private Round | $5.0M | $50.0M | |
| Coin98 Lead | Seed | $1.2M | $25.0M | |
 Sommelier | Seed Round | $3.5M | $35.0M | |
| OpenOcean | Seed Round | $2.0M | $20.0M | |
| Manta Network | Pre-seed Round | $1.1M | $8.5M | |
 Oxygen | Private Sale | $40.0M | $400.0M | |
| saffron.finance | Seed Round | $2.0M | $20.0M | |
 Furucombo | Seed Round | $1.9M | $18.5M | |
 Salad Ventures Lead | Seed Round | $2.0M | $20.0M | |
| MATH Lead | Series A | $7.8M | $78.0M | |
| Mina Protocol | Strategic Round (unlocked) | $6.6M | $250.0M | |
| Mina Protocol | Strategic Round (locked) | $4.3M | $150.0M | |
| Dune Analytics | Seed Round | $2.0M | $20.0M | |
| Audius Lead | Strategic Round | $3.1M | $31.0M | |
| The Graph | Strategic Round | $5.0M | $29.4M | |
| Perpetual Protocol Lead | Strategic Round | $1.8M | $12.0M | |
 dForce Token Lead | Strategic Round | $1.5M | $15.0M | |
| Arweave | Private Round | $8.3M | $83.0M | |
| SKALE | Venture Round | $5.7M | $106.4M | |
| Tableland | Seed Round | $1.5M | $15.0M | |
| Web3Auth Lead | Seed Round | $2.0M | $20.0M | |
| NEAR Protocol | Private Round 2 | $375.0K | $150.0M | |
| THORChain | Private Sale | $1.6M | $11.5M | |
| Helium Lead | Series C | $15.0M | $150.0M | |
 Textile | Seed Round | $1.5M | $15.0M | |
| Solana Lead | Series A | $20.0M | $200.0M | |
| NEAR Protocol | Private Round 1 | $8.5M | $120.0M | |
| The Graph Lead | Seed | $2.5M | $14.7M | |
| SKALE Lead | Private Round | $8.9M | $69.3M | |
| Algorand | Venture Round | $62.0M | $620.0M | |
| SKALE Lead | Seed Round | $2.4M | $23.8M | |
| StarkNet | Series A | $30.0M | $300.0M | |
| Audius | Series A | $5.5M | $55.0M | |
| NEAR Protocol | Seed Round | $2.9M | $50.0M | |
 Tari | Seed Round | — | — | |
| Kadena | Presale Round 2 | $12.9M | $750.0M | |
| Internet Computer | Pre-Sale | $102.0M | $2.15B | |
| MobileCoin | Seed Round | $30.0M | $300.0M | |
| Kadena | Presale Round 1 | $2.2M | $500.0M | |
| Livepeer | Seed | $3.0M | $30.0M | |
| Arweave | Seed | $5.0M | $50.0M | |
| Nervos Network Lead | Seed | $28.0M | $280.0M | |
| NEAR Protocol | Pre-seed | $810.0K | $37.5M | |
| Kadena | Seed | — | — |
Focus areas
Blockchain9
Coinlist Launchpad5
Infrastructure5
DePIN4
Artificial Intelligence (AI)3
Solana Ecosystem2
Blockchain Service2
Co-investors
Coinbase Ventures13 shared
Andreessen Horowitz (a16z)9 shared
CoinFund7 shared
Pantera Capital7 shared
Polychain Capital6 shared
ParaFi Capital6 sharedFunds that most often back the same projects.