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Multicoin Capital

Austin, Texas · Invests in US; Global · Website

Pre-SeedSeedSeries AB2B SaaSDeveloper ToolsFintechCrypto & Web3Fintech & PaymentsEnterprise SoftwareDeveloper Tools & Infrastructure

Thesis

Cryptocurrency and blockchain technology will fundamentally restructure global financial systems. We invest in category-defining protocols and companies that reshape trillion-dollar markets through permissionless finance, technical innovation, and new economic paradigms enabled by blockchain. Particular focus on execution layers, DeFi infrastructure, stablecoins, payments, and emerging categories like DePIN, FHE, and crypto-AI intersection.

Likely not a fit for

Regulatory capture, centralized permission structures, projects without clear market timing or adoption curves, ventures dependent on unsustainable token economics

How they invest

Lead or follow
Usually follows
Typical decision
~2 weeks
Warm intro
Not required
Involvement
Advisor
Fund status
Actively deploying
Decision process
Partnership vote

Partners & team

10 contacts on file

TJ

Tushar Jain

General PartnerManaging Partner · Primary contact

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t•••@mu•••.capital

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MS

Matthew Shapiro

PartnerPartner

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m•••@mu•••.capital

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BS

Brian Smith

Platform & OpsPartner, CFO and COO

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MS

Matt Shapiro

PartnerPartner, Head of Investor Relations

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SA

Spencer Applebaum

PartnerInvestment Partner

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SS

Shayon Sengupta

PartnerInvestment Partner

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VK

Vishal Kankani

PrincipalPrincipal

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JR

John Robert Reed

Platform & OpsPartner, Head of Marketing and Communications

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GX

Greg Xethalis

Platform & OpsPartner, General Counsel

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KS

Kyle Samani

Platform & OpsAdvisor and Co-Founder

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Portfolio

SolanaFintech Payments

Solana is a high-performance blockchain network that powers internet capital markets, payments, and crypto applications. It is known for being fast, decentralized, and scalable.

AptosDeveloper Tools Infra

Aptos is a blockchain platform that enables developers to build decentralized applications (dApps) using smart contracts. It focuses on providing a secure and scalable environment for token standards and multi-signature wallets.

ArweaveDeveloper Tools Infra

Arweave is a permanent information storage protocol that enables the decentralized and dis-intermediated transmission of information across time and space, utilizing a blockchain consensus mechanism for data permanence.

Drift ProtocolGaming

Drift Protocol is a decentralized trading platform built on Solana, offering permissionless trading of perpetual futures with high leverage and yield opportunities.

JitoDeveloper Tools Infra

Jito Labs provides infrastructure solutions for Solana, focusing on maximizing MEV (Miner Extractable Value) opportunities for validators and searchers on the blockchain.

Kamino FinanceFintech Payments

Kamino Finance is evolving from a lending protocol into the infrastructure layer for institutional finance and tokenized assets on Solana, offering fixed rates, off-chain collateral solutions, and a comprehensive platform for managing tokenized asset issuance.

Lido FinanceFintech Payments

Lido Finance provides a liquid staking solution for Ethereum, allowing users to stake their ETH while maintaining liquidity through its stETH token. The platform supports institutional clients and offers modular infrastructure for Ethereum staking.

THORChainGaming

THORChain is a decentralized exchange infrastructure that facilitates native asset settlement between various blockchains, allowing users to swap cryptocurrencies directly from their wallets without the need for wrapped tokens or intermediaries.

LayerzeroEnterprise Software

LayerZero is a technology that enables applications to move data across blockchains, uniquely supporting censorship-resistant messages and permissionless development through immutable smart contracts.

WormholeDeveloper Tools Infra

Wormhole is the leading interoperability platform connecting traditional finance and the internet economy, enabling secure cross-chain transactions and the transfer of data and assets across multiple blockchains.

HeliumDeveloper Tools Infra

Helium provides a decentralized wireless network for IoT devices, allowing users to earn cryptocurrency by providing network coverage.

AudiusMedia Entertainment

Audius is a community-run music platform that connects artists and fans directly, allowing for free unlimited uploads and an ad-free experience.

Recent activity

Multicoin Capital in the news

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Research briefRead more
Multicoin Capital Research Investment Thesis Multicoin Capital is a thesis-driven investment firm founded in May 2017 that invests exclusively in cryptoassets, tokens, and blockchain companies reshaping trillion-dollar markets. The firm's core thesis is that cryptocurrency and blockchain technology will fundamentally restructure global financial systems, with their logo—a phoenix—representing a ne

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