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Crypto seed investors: 18 funds led 15 rounds, 3 led twice

By NAUT Research · · 8 min read

$106.65M Crypto seed investors the 18 funds that led 15 crypto seed rounds, 1 September to 27 October 2026. Logos: Atum, Tare, Vest Exchange, Limited, Dataline, Firelight, CatchBack, Multiliquid, HoneyB, Walapay, InfiniFi, Soda Labs, Tenka, functionSPACE, Imperial.

18 funds wrote the lead check in the 15 crypto seed rounds NAUT recorded between 1 September and 27 October 2026, and those rounds raised $106.65M between them. 3 of the 18 crypto seed investors led 2 rounds each, Maven 11 Capital, Foundation Capital and Portal Ventures, and the other 15 funds led 1 apiece.

Data note. NAUT data as of 27 October 2026. Scope: every crypto seed, pre-seed and extended seed round NAUT recorded between 1 September and 27 October 2026 where NAUT's own record names both the lead investor and the amount raised, and where the company has a live NAUT page. That gives 15 rounds: 12 Seed, 2 Pre Seed and 1 Extended Seed. Every amount, lead and co-investor below is the value the company's own NAUT page displays. 4 of the 15 rounds were checked a second time against an outside report, linked in Sources. Compiled by the NAUT research desk.

Which crypto seed investors led a round, and what did each company raise?

15 rounds, 18 lead funds, 21 lead credits, because 4 of the rounds were led by more than 1 firm. Amounts and leads below are NAUT's own record for each company.

Company Round and raised Lead investors
Seed, 1 Sep, $8M
Seed, 16 Sep, $13.25M
Pre Seed, 17 Sep, $2M
Seed, 21 Sep, $8M
Seed, 22 Sep, $13.5M
Seed, 23 Sep, $3M
Pre Seed, 24 Sep, $1.7M ,
Extended Seed, 28 Sep, $11.5M , , ,
Seed, 2 Oct, $4.6M
Seed, 6 Oct, $1.5M
Seed, 7 Oct, $13M
Seed, 8 Oct, $3M
Seed, 15 Oct, $8M
Seed, 20 Oct, $5M ,
Seed, 21 Oct, $10.6M ,

The 3 largest rounds in the table, Atum at $13.5M, Tare at $13.25M and Vest Exchange at $13M, hold $39.75M of the $106.65M between them. The median round is $8M and the average is $7.11M.

What does each company do, and who else backed it?

One block per company, largest round first. A bold name links to its NAUT page, where the team and the full investor list sit.

, the open payments network for global money movement.

, a credit markets protocol.

, a multi-chain perpetual DEX covering crypto, equities and forex pairs.

, self-custodial global accounts with payouts over local rails.

, a data layer for AI agents that act onchain.

, a protection layer for digital assets.

, vaulted and insured collectible packs.

, at multiliquid.xyz.

, an institutional yield layer for Bitcoin.

, tagged Stablecoins and Infrastructure in NAUT.

, an onchain fractional reserve system, tagged DeFi.

, at sodalabs.xyz.

  • Led by: NextBlock
  • Seed, 8 October 2026, $3M

, a liquidity engine for asset-based finance.

, a prediction market for numerical outcomes, tagged Prediction Market and DeFi.

, perps on Solana in 1 terminal.

How much did each startup raise?

Raised per round, the 15 rounds in this report
  1. Atum$13.5M
  2. Tare$13.25M
  3. Vest Exchange$13M
  4. Limited$11.5M
  5. Dataline$10.6M
  6. Firelight$8M
  7. CatchBack$8M
  8. Multiliquid$8M
  9. HoneyB$5M
  10. Walapay$4.6M
  11. InfiniFi$3M
  12. Soda Labs$3M
  13. Tenka$2M
  14. functionSPACE$1.7M
  15. Imperial$1.5M

5 of the 15 rounds came in at $3M or below, and 5 cleared $10M, so the lead funds in this report are writing checks at both ends of seed.

Which crypto seed investors led more than 1 round?

3 funds led 2 of the 15 rounds each. The other 15 lead funds appear once.

4 of the 15 rounds had more than 1 lead: functionSPACE, Limited with 4 lead funds, HoneyB and Dataline. Alongside the leads, 43 further investors joined these 15 rounds without a lead label. Coinbase Ventures and Generative Ventures each appear in 2 of the 15, and Generative Ventures led a third, Walapay.

What this tells a BD team

  • 15 companies closed money in the last 8 weeks of the window, so budgets are fresh and the buying team is being hired now.
  • The spread of lead funds is wide: 18 firms, and 15 of them led only 1 of these rounds, so a referral path has many doors to pick from.
  • The biggest cluster of named backers sits on Walapay with 9 co-investors and InfiniFi with 7, which is where a warm intro is easiest to find.
How a BD team can work this list
  1. Start with the fresh moneyThe 15 companies closed between 1 September and 27 October 2026, from Atum at $13.5M down to Imperial at $1.5M.
  2. Open the lead fund pagePortal Ventures led 2 of the 15, so its NAUT page carries both Vest Exchange and HoneyB.
  3. Pick the shared backerCoinbase Ventures sits on CatchBack and Dataline, which gives 1 relationship for 2 accounts.
  4. Find the person to write toEach company page on NAUT lists its team, so the intro request names a person.

What this tells a founder raising a seed round

  • The median of these 15 rounds is $8M, so a $5M to $8M ask sits in the middle of what these 18 seed stage crypto VCs priced.
  • 2 of the 15 were Pre Seed, Tenka at $2M and functionSPACE at $1.7M, and both leads are named, so a pre-seed pitch has a real target list.
  • 43 investors joined these rounds without the lead label, which is the list to build a round around once a lead is in.
How a founder picks the funds to pitch
  1. Match your round sizeThe median of the 15 rounds is $8M, and 5 of them landed at $3M or below.
  2. Pick the funds that lead18 funds wrote a lead check here, from Variant at $13.5M down to Foundation Capital at $1.5M.
  3. Read the patternPortal Ventures led Vest Exchange and co-led HoneyB, so a derivatives or Bitcoin yield pitch has a fit.
  4. Line up the followers43 further investors joined these 15 rounds, including Coinbase Ventures in 2 of them.

What this tells an investor sourcing seed deals

How to reach these crypto seed investors

If you are asking which VCs lead crypto seed rounds, the answer sits on 18 fund pages, and every fund and company in this report has one. A fund page lists the rounds it led and joined, so Foundation Capital shows both CatchBack and Imperial in 1 place. A company page lists its team with the contact routes NAUT holds, so an intro request can name the person who owns the decision. Hover any link in this article to see the page without leaving it.

Search naut.so for a fund by name to get its full round list, or search a company to find the people behind it.

Crypto seed investors FAQ

Which crypto seed investors led rounds between September and October 2026?

18 funds led the 15 crypto seed rounds NAUT recorded from 1 September to 27 October 2026: Gumi Cryptos, Blockchain Capital, Maven 11 Capital, Foundation Capital, Variant, Electric Capital, Blockwall, Third Prime, Collab + Currency, North Island Ventures, The House Fund, Generative Ventures, Portal Ventures, NextBlock, Polychain Capital, PEER VC, Lattice and Dispersion Capital.

How much did these crypto seed rounds raise?

The 15 crypto seed rounds in this report raised $106.65M between 1 September and 27 October 2026, with a median round of $8M and an average of $7.11M.

Which crypto seed investors led more than 1 round in the window?

Maven 11 Capital, Foundation Capital and Portal Ventures each led 2 of the 15 rounds between 1 September and 27 October 2026. Maven 11 Capital led Tenka and co-led functionSPACE, Foundation Capital led CatchBack and Imperial, and Portal Ventures led Vest Exchange and co-led HoneyB.

Which crypto startups raised the largest of these seed rounds?

Atum raised $13.5M on 22 September 2026 led by Variant, Tare raised $13.25M on 16 September 2026 led by Blockchain Capital, and Vest Exchange raised $13M on 7 October 2026 led by Portal Ventures.

How many investors took part in these crypto seed rounds?

59 distinct investors appear across the 15 rounds between 1 September and 27 October 2026: 18 as a lead and 43 more as co-investors, with Maven 11 Capital and Generative Ventures in both groups.

Which pre-seed crypto funding rounds are in this report?

2 of the 15 rounds are Pre Seed: Tenka raised $2M on 17 September 2026 led by Maven 11 Capital, and functionSPACE raised $1.7M on 24 September 2026 led by Maven 11 Capital and Blockwall.

Sources

Every round above is NAUT's own record for that company, each built from the company's round page on CryptoRank (Firelight, Tare, Tenka, CatchBack, Atum, InfiniFi, functionSPACE, Limited, Walapay, Imperial, Vest Exchange, Soda Labs, Multiliquid, HoneyB, Dataline).

4 rounds were checked a second time against an outside report: