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a16z crypto portfolio: 55 teams, 80 rounds, $6.99B tracked

By NAUT Research · · 13 min read

55 a16z crypto portfolio companies on NAUT, across 80 rounds from April 2018 to September 2026. Logos: Kalshi, Flow, Yuga Labs, Polygon, Sui, Jeeves, Solana, Axie Infinity, Somnia, Phantom.

NAUT tracks 55 companies in the a16z crypto portfolio, across 80 funding rounds that disclose $6.99B between them. Every one of those 80 rounds carries an amount, the median is $25.8M and the mean is $87.3M, and base layers are the largest group by money at $1.97B across 14 rounds.

Data note. Counted on 27 October 2026 from NAUT's own database. NAUT lists this firm under 2 live rows, a16z crypto and Andreessen Horowitz (a16z), so this page counts the union of both: 80 distinct investment rows and 55 companies, each company counted once. 4 companies sit on both rows: LayerZero, Kalshi, Uniswap and Sui are counted once here. A third row, the old general a16z row, was merged into a16z crypto on 21 October 2026 and carries no rounds of its own. The stored portfolio counts on the 2 live rows, 28 and 19, lag the investment rows behind them, so every count, sum and median on this page is recomputed from the rows rather than read off a cached field.

Every one of the 80 rounds carries a date NAUT displays, 40 of them an announcement date and the other 40 a closing date, and together they set the April 2018 to September 2026 window above. Each date below is the one NAUT's own page shows for that round: the announcement date where NAUT holds one, the closing date otherwise. 75 of the 80 rows were ingested from funding aggregators, so 6 of the largest were checked for this page against a company announcement or a named press report, each listed in Sources: Flow at $725.0M, Polygon at $450.0M, Sui's $300.0M Series B, Uniswap's $165.0M Series B, EigenCloud's $100.0M round of February 2024 and Farcaster's $150.0M Series A. The other rows were not checked one by one, so read this as NAUT's coverage of the firm rather than the firm's full history. Kalshi is the 1 check that failed: NAUT records a $185.0M Series D closing 2 August 2025, while Kalshi's own news page puts its Series D at $300M, announced 10 October 2025. Every Kalshi figure on this page, its $1.19B total included, is NAUT's own record, not a confirmed one. Each company sits in exactly 1 sector group, the first sector tag NAUT holds for it, so the groups add up to 55. Written by NAUT Research.

What is in the a16z crypto portfolio on NAUT?

Sector Companies Rounds Median Total
Infrastructure 11 13 $6.0M $888.9M
Layer 1, 2 and 3 11 14 $40.5M $1.97B
AI 9 14 $10.5M $302.5M
Gaming 6 7 $150.0M $936.6M
DeFi 4 6 $85.0M $1.41B
Tools 4 7 $20.0M $266.4M
Other sectors 4 7 $15.0M $457.9M
No sector tag 3 7 $26.0M $369.0M
SocialFi 3 5 $30.0M $393.0M

Infrastructure and base layers hold 22 of the 55 companies between them, and base layers alone account for $1.97B of the $6.99B. The 6 gaming companies carry the highest median round at $150.0M, against $6.0M in infrastructure, the lowest median of the 9 groups. These a16z crypto investments reach back to 2018, so the mix reads as the firm's history rather than its position this quarter.

a16z crypto portfolio companies by sector

Every company below links to its NAUT page, which lists its team, its rounds and the other funds on its cap table. Disclosed totals add every round in this set, so a company backed twice shows the sum of both rounds. Latest is the company's most recent round here, with the type and the date NAUT shows for it.

Infrastructure (11 companies)

Chains, provers, bridges and node services: $888.9M across 13 rounds, at the smallest median cheque of any group here, $6.0M.

Company Rounds Disclosed Latest
1 $450.0M Funding Round, Feb 2022
2 $255.0M Series B, Apr 2023
1 $140.0M Private Round, Mar 2025
1 $10.2M Seed Round, Aug 2018
1 $10.0M Pre-Seed Round, Nov 2024
1 $6.0M Seed Round, Jun 2022
2 $5.5M Strategic Round, Apr 2025
1 $5.2M Seed Round, Sep 2024
1 $3.0M Pre-Seed Round, Sep 2024
1 $2.5M Pre-Seed Round, Sep 2024
1 $1.5M Seed Round, Dec 2021

Layer 1, 2 and 3 (11 companies)

Base layers and rollups, the largest group by money at $1.97B across 14 rounds.

Company Rounds Disclosed Latest
1 $725.0M Ecosystem Fund, May 2022
2 $336.0M Series B, Sep 2022
1 $314.0M Funding Round, Jun 2021
1 $270.0M Ecosystem Funding Round, Feb 2025
1 $100.0M Series B Round, Dec 2022
1 $50.0M Series B, Nov 2021
2 $45.0M Funding Round, Feb 2021
1 $45.0M Funding Round, Jul 2018
1 $36.1M Funding Round, Apr 2018
2 $35.5M Series B Round, Apr 2025
1 $10.0M Seed Round, Jan 2025

AI (9 companies)

9 companies and 14 rounds at a $10.5M median. Only 5 of those 14 rounds carry an announcement date on NAUT; the other 9 are dated by their closing date.

Company Rounds Disclosed Latest
3 $134.3M Series B, Aug 2024
2 $70.0M Series A Round, Jan 2025
1 $43.0M Series A Round, Jun 2023
2 $13.3M Funding Round, Mar 2020
1 $11.0M Jun 2025
1 $10.0M Pre-Seed Round, Sep 2024
1 $8.5M Seed Round, Oct 2024
2 $6.5M Seed Round, Apr 2025
1 $5.9M Seed Round, Mar 2025

Gaming (6 companies)

6 companies, 7 rounds and the highest median round on this page at $150.0M.

Company Rounds Disclosed Latest
1 $450.0M Seed Round, Mar 2022
2 $302.0M Series C Round, Apr 2022
1 $150.0M Series C Round, Nov 2021
1 $30.0M Funding Round, Sep 2024
1 $3.0M Seed Round, Dec 2021
1 $1.6M Pre-Seed Round, Nov 2023

DeFi (4 companies)

4 companies and 6 rounds worth $1.41B, with prediction markets and restaking inside the tag.

Company Rounds Disclosed Latest
2 $1.19B Private Round, Nov 2025
2 $170.0M Token Purchase, Jun 2025
1 $50.0M Strategic Round, Oct 2025
1 $1.7M Seed Round, Aug 2020

Tools (4 companies)

Marketplaces, analytics and messaging: $266.4M across 7 rounds, every one of them dated by its closing date rather than an announcement date.

Company Rounds Disclosed Latest
2 $123.0M Series B Round, Jul 2021
2 $87.0M Series B Round, Dec 2021
2 $40.0M Series B Round, Jul 2025
1 $16.4M Seed Round, Jun 2024

Other sectors (4 companies)

4 companies whose first NAUT tag stands alone here: a wallet, a decentralized exchange, a DePIN network and a privacy chain.

Company Rounds Disclosed Latest
3 $259.9M Series C Round, Jan 2025
2 $176.0M Series B, Oct 2022
1 $15.0M Seed Round, Jul 2025
1 $7.0M Seed Round, Mar 2025

No sector tag (3 companies)

3 companies carry no sector tag on NAUT, so a sector filter never returns them. Work from this list instead.

Company Rounds Disclosed Latest
3 $316.0M Series C, Sep 2026
3 $49.0M Series B, Aug 2025
1 $4.0M Strategic Round, Apr 2025

SocialFi (3 companies)

3 companies and 5 rounds worth $393.0M.

Company Rounds Disclosed Latest
1 $200.0M Funding Round, Sep 2021
2 $180.0M Series A Round, May 2024
2 $13.0M Funding Round, Jan 2024

How big is a round in the a16z crypto portfolio?

The rounds in this set run from $0.5M to $1.00B. The median is $25.8M and the mean is $87.3M, so the average sits more than 3 times above the typical round. Half of these 80 rounds are $25.8M or smaller, which is the number to size a pitch against.

Disclosed total per company, the 10 largest in the set
  1. Kalshi$1185.0M
  2. Flow$725.0M
  3. Yuga Labs$450.0M
  4. Polygon$450.0M
  5. Sui$336.0M
  6. Jeeves$316.0M
  7. Solana$314.0M
  8. Axie Infinity$302.0M
  9. Somnia$270.0M
  10. Phantom$259.9M

The chart adds every round per company, so Kalshi shows both of its rows and Jeeves all 3 of its. No round in this set is missing an amount, so every company here has a bar.

Which companies did a16z crypto back more than once?

21 of the 55 companies appear in more than 1 round and 34 appear in 1. Jeeves, Phantom, DATA Network and NG.CASH are the 4 on 3 rounds each. The split across the 2 NAUT rows shows up here: Sui's $36.0M Series A of December 2021 sits on the Andreessen Horowitz row and its $300.0M Series B of September 2022 on the a16z crypto row, and Uniswap and LayerZero split the same way.

Company Rounds Round types
3 Series C, Series A, Series C
3 Series A Round, Series B Round, Series C Round
3 Series B, Series A, Seed Round
3 Series B, Seed, Series A
2 Private Round, Series D Round
2 Series B, Series A
2 Series B, Series C Round
2 Series B, Series A Extension
2 Series A Round, Seed Round
2 Series A, Series B
2 Funding Round, Token Purchase
2 Series A Round, Series B Round
2 Series B Round, Series A Round
2 Series A Round, Seed Round
2 Funding Round, Private Round
2 Series A Round, Series B Round
2 Series A Round, Series B Round
2 Funding Round, Funding Round
2 Funding Round, Funding Round
2 Incubation Round, Seed Round
2 Strategic Round, Incubation Round

A second cheque is the warmest signal on this page for a BD team: the firm already knows the team, and the company's NAUT page names the people on both sides.

Who invests alongside a16z crypto?

NAUT records 248 other firms as backers somewhere in these 80 rounds, and 11 of them appear in 5 or more. Coinbase Ventures is the most frequent at 16 rounds across 14 companies, ahead of Polychain Capital, Sequoia Capital and Variant, 3 of the 4 firms NAUT records in 9 of these rounds each. The table below lists 15 of the firms NAUT records most often in this set, with the rounds each shares and how many of these companies it reaches; every round page linked above names its full backer list.

Firm Rounds Companies
16 14
9 9
9 7
9 6
8 7
7 6
6 5
5 5
5 5
5 4
4 4
4 4
4 4
4 3
4 3
Rounds shared with a16z crypto, 10 of the firms that appear most often
  1. Coinbase Ventures16
  2. Polychain Capital9
  3. Sequoia Capital9
  4. Variant9
  5. Standard Crypto8
  6. SV Angel7
  7. SamsungNext6
  8. FTX Ventures5
  9. Balaji Srinivasan5
  10. Union Square Ventures (USV)5

The set reaches back to 2018, so it holds firms that no longer operate as they did. FTX Ventures shares 5 of these rounds and wound down with FTX in November 2022.

What the a16z crypto portfolio tells a BD team

  • The median round is $25.8M. Half of these 80 rounds are that size or smaller, so a pitch built on the $6.99B headline aims at the wrong company size.
  • 21 teams got a second cheque. Those companies have a shorter path back to the firm than a first-time name, and their NAUT pages name the people on both sides.
  • 11 firms share 5 or more of these rounds. An introduction through one of them reaches the same table, starting with Coinbase Ventures at 16.
  • 3 companies carry no sector tag. Jeeves, NG.CASH and Glider never appear in a sector filter, so work from this list rather than a tag search.

Any crypto VC portfolio list ages from the day it is published, so this page carries the date it was counted and links the NAUT row behind every number.

How a BD team can work this list
  1. Pick the sector you sell intoInfrastructure and base layers hold 22 of the 55 companies, and AI holds another 9.
  2. Size the pitch to the medianHalf of these 80 rounds are $25.8M or smaller, so aim there rather than at the $1.00B top row.
  3. Start with the repeat names21 companies took more than 1 cheque from this firm, led by Jeeves and Phantom on 3 each.
  4. Go in through a co-investor11 firms share 5 or more of these rounds, Coinbase Ventures most often at 16.
  5. Find the person on the NAUT pageEvery company above links to its page, which lists its team and the verified ways to reach them.

What this tells a founder raising a round

  • This firm writes at every stage. The 80 rounds run from a $0.5M incubation round to a $1.00B private round, and the 13 infrastructure rounds sit at a $6.0M median.
  • Sector decides the cheque size. Gaming rounds here run at a $150.0M median and infrastructure rounds at $6.0M, so a comparable from the wrong group sets the wrong ask.
  • Read the co-investor list before the pitch. The same firms recur across these rounds, 11 of them in 5 or more, so the syndicate around this firm is predictable enough to plan for.
  • Bring a comparable from your own group. Each sector table above gives the rounds, the disclosed total and the latest round NAUT dates, which is evidence a partner can check in a minute.
How a founder can use this before a pitch
  1. Find your groupEach sector table above gives the companies, the rounds and the median for that tag.
  2. Pull 3 comparablesTake 3 companies from your group with round types close to yours and read their NAUT pages.
  3. Check the syndicate11 firms share 5 or more of these rounds, so look for the ones already in your sector.
  4. Route the warm introA company that took a second cheque from this firm, 21 of the 55 did, is the shortest path in.

Who runs a16z crypto?

Chris Dixon is the person to know: his NAUT page shows his title as Managing Partner at a16z crypto, and Crunchbase describes him as a general partner at Andreessen Horowitz. The firm's own site says it has invested in crypto startups across all stages since 2013.

NAUT holds 64 current people across the 2 rows, 44 against a16z crypto and 20 against Andreessen Horowitz (a16z). The general partners NAUT lists on the crypto row are Ali Yahya, Ariana Simpson, Guy Wuollet, Sriram Krishnan and Christopher Lyons. Anthony Albanese is stored as COO and managing partner, Eddy Lazarin as CTO, and Marc Andreessen and Ben Horowitz as co-founders of the firm. Stored titles date from when each row was created, so treat them as a starting point and check the person's own NAUT page for the current one and the ways to reach them.

a16z crypto portfolio FAQ

How many companies are in the a16z crypto portfolio?

NAUT tracks 55 companies backed by a16z as of 27 October 2026, 42 through a16z crypto and the rest through the main firm, across 80 funding rounds that disclose $6.99B between them. That count is the union of NAUT's 2 live rows for the firm, a16z crypto and Andreessen Horowitz (a16z), with the 4 companies on both rows counted once, so read it as NAUT's verified coverage rather than the firm's full history.

What companies has a16z crypto invested in?

The largest disclosed totals in NAUT's set went to Kalshi at $1.19B, Flow at $725.0M, Polygon at $450.0M, Yuga Labs at $450.0M and Sui at $336.0M. By count the portfolio leans on infrastructure (11 companies), base layers and rollups (11), AI (9) and gaming (6).

How much does a16z crypto invest in a round?

Across the 80 rounds in NAUT's set, every one of which discloses a size, the median round was $25.8M and the mean $87.3M, counted on 27 October 2026. Those are the sizes of the whole round, not this firm's own cheque, which is rarely disclosed.

Which funds invest alongside a16z crypto?

NAUT records 248 other firms in these 80 rounds, and 11 of them appear in 5 or more. The most frequent are Coinbase Ventures at 16 shared rounds, then a group of 4 firms at 9 shared rounds each, among them Polychain Capital, Sequoia Capital and Variant.

Does a16z crypto lead rounds?

Yes. NAUT records the firm as lead on 5 of these 80 rounds, the biggest being Solana's $314.0M round of 9 June 2021, where it is tagged lead alongside Polychain Capital. Read nothing into the other 75: the lead flag is set on about 1.8% of backer rows across the whole database, so its absence is a gap in the data, not a fact about who led. Of the rounds checked for this page, the sources also name the firm as lead on EigenCloud's $100.0M round of 22 February 2024.

Why does NAUT list a16z under 2 rows?

NAUT holds a16z crypto with 52 of these investment rows and Andreessen Horowitz (a16z) with 28, and the 2 rows have not been merged. This page counts the union, 80 rounds and 55 companies, with LayerZero, Kalshi, Uniswap and Sui counted once each because they sit on both. Checking both rows is worth the extra click for any firm you research on NAUT.

Sources