Multicoin Capital

Multicoin Capital is a prominent, thesis-driven venture capital firm based in Austin, Texas, specializing in the cryptocurrency and blockchain space. Established with a clear vision, the firm focuses on identifying and investing in foundational protocols and applications that have the potential to reshape significant sectors of the global economy. Their investment strategy is deeply rooted in rigorous research and a long-term perspective, often backing projects that align with their "fat protocols" thesis, which posits that value accrues at the protocol layer rather than the application layer in decentralized networks.

The firm has demonstrated significant growth and commitment to the crypto ecosystem through multiple successful fundraises. In 2021, Multicoin Capital closed its second venture fund at $250 million, following an initial $100 million fund. Building on this momentum, they announced the close of their third venture fund in June 2022, securing an impressive $430 million. This substantial capital allows Multicoin to deploy significant resources into promising early-stage crypto projects, from seed to Series A rounds.

Multicoin Capital typically writes first checks ranging from $500,000 to $25 million, reflecting their flexibility to support projects at various stages of development within the crypto landscape. Their portfolio includes several high-profile investments that have gone on to become cornerstones of the Web3 economy, such as Solana, Helium, and The Graph. The firm is known not just for its capital deployment but also for its active involvement and thought leadership, often publishing in-depth research and contributing to the strategic direction of its portfolio companies. This hands-on approach, combined with their deep expertise in blockchain technology, positions Multicoin Capital as a key player in driving innovation and adoption within the decentralized future.