Electric Capital

Electric Capital is a prominent venture capital firm based in Palo Alto, United States, dedicated to investing in the burgeoning cryptocurrency, blockchain, fintech, and Web3 sectors. Founded by Avichal Garg and Curtis Spencer, the firm has rapidly established itself as a key player in the digital asset investment landscape, focusing on companies and protocols that are building the foundational infrastructure and applications for a decentralized future. Their investment scope spans across various stages, from early-stage seed rounds to more mature Series A and B opportunities, demonstrating a commitment to long-term growth within their specialized domains.

The firm has shown remarkable growth in its capital deployment capabilities. Initially, Electric Capital raised a $35 million fund in 2018, quickly followed by a $110 million fund in 2021. This trajectory culminated in a significant milestone in March 2022, when the firm announced the closing of its third fund, a massive $1 billion vehicle. This substantial fund is strategically divided, with $400 million allocated for equity investments in companies and $600 million earmarked for direct investments in tokens and protocols. This dual-pronged approach underscores Electric Capital's deep understanding of the unique capital structures prevalent in the crypto ecosystem.

Electric Capital's investment thesis centers on identifying and backing visionary founders who are developing critical infrastructure, decentralized finance (DeFi) protocols, non-fungible token (NFT) platforms, and other innovative applications within the Web3 space. The firm is known for its hands-on approach, providing not just capital but also strategic guidance, technical support, and network access to its portfolio companies. They typically write first checks ranging from $1 million to $50 million, allowing them to participate meaningfully in rounds from seed to later stages. Their focus on both equity and token investments positions them uniquely to support the diverse needs of crypto startups and protocols, aiming to foster the next generation of decentralized technologies.