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Crypto VC check sizes: 15 investors, $1.7M to $200M rounds

By NAUT Research · · 7 min read

$920.7M Crypto VC check sizes across 26 rounds that 15 investors joined in 2026, medians of $2.5M to $95.0M. Logos: NVIDIA Venture Capital, Sequoia Capital, Coinbase Ventures, Circle, M12, Bpifrance, Pantera Capital, Framework Ventures, Haun Ventures, Blockwall, Borderless Capital, Generative Ventures, Big Brain Holdings, Blockchange Ventures, 2Square.

Crypto VC check sizes in 2026 sit well below the headline raises: the median round these 15 active crypto venture capital investors joined was $23.8M, and the median of the 26 individual rounds they sit in was $10.0M. The 23 rounds with a disclosed size add up to $920.7M, the smallest a $1.7M pre-seed and the largest a $200.0M Series D.

How this was built, and what the numbers are: NAUT's 2026 backer record was read on 29 October 2026 and holds 198 investor-to-round links across 56 rounds and 159 investors, announced between 13 January and 27 October 2026. 22 investors clear the bar of 2 or more rounds with 2 or more disclosed amounts. The 15 below are the ones whose rounds were re-checked against press sources, 2 sources per round where a source could be read; the other 7 are listed further down with their NAUT numbers. NAUT records the size of each round, so every figure here is the size of a round the investor joined, never the amount that investor put in: no public record holds per-investor checks for most of these deals. Medians and ranges are computed from the rounds listed on each investor's NAUT page, so a median is not a number the page itself displays.

3 entries in NAUT's record sit outside this math. A $400.0M Tazapay entry under Circle is typed M&A, and the source for it describes an acquisition. A $5.0M Anvil entry under Pantera Capital is typed as an OTC purchase. 4 further rounds belong to companies with no live NAUT page yet, so they count in an investor's totals and are described below without a name. 2 research checks disputed a detail: the press release for the functionSPACE pre-seed names a second firm as co-lead alongside Blockwall, and 2 reports date the Walapay seed to 1 October while NAUT records 2 October.

Crypto VC check sizes: how big were the rounds each investor joined?

Sorted by the median size of the rounds each one joined. "Rounds" counts every 2026 round NAUT holds a backer record for; the median and the range use only the rounds with a disclosed amount, so Coinbase Ventures, Circle and 2Square each have 1 round above with no amount on record. Which rounds each investor led is set out further down.

Investor Rounds Median Range
4 $95.0M $60.0M to $130.0M
2 $75.0M $60.0M to $90.0M
2 $73.5M $57.0M to $90.0M
3 $60.0M $30.0M to $200.0M
2 $48.8M $37.5M to $60.0M
2 $45.9M $1.7M to $90.0M
5 $34.0M $4.9M to $57.0M
2 $23.8M $10.0M to $37.5M
2 $23.8M $10.0M to $37.5M
2 $13.0M $7.0M to $19.0M
4 $10.0M $8.0M to $10.0M
3 $10.0M $3.0M to $10.0M
2 $4.8M $4.6M to $5.0M
3 $4.6M $3.0M to $8.0M
3 $2.5M $2.0M to $3.0M

NVIDIA Venture Capital is a corporate strategic arm, and its 4 qualifying rounds are all compute and AI infrastructure deals. Circle, M12 and Bpifrance are also corporate or state-backed investors, so a founder should read their medians as strategic money. NAUT lists Circle under 2 investor rows, Circle and Circle Ventures, and the 4 rounds above are the union of both rows with each company counted once.

Which companies did each investor back in 2026?

Each company links to its NAUT page, where the team and the rest of its round history sit.

How do crypto VC check sizes compare across the 15?

Median size of the 2026 rounds each investor joined
  1. NVIDIA Venture Capital$95.0M
  2. M12$75.0M
  3. Bpifrance$73.5M
  4. Sequoia Capital$60.0M
  5. Framework Ventures$48.8M
  6. Blockwall$45.9M
  7. Coinbase Ventures$34.0M
  8. Pantera Capital$23.8M
  9. Haun Ventures$23.8M
  10. Blockchange Ventures$13.0M
  11. Circle$10.0M
  12. Borderless Capital$10.0M
  13. Big Brain Holdings$4.8M
  14. Generative Ventures$4.6M
  15. 2Square$2.5M

The spread across the 15 is 38 times, from $2.5M at 2Square to $95.0M at NVIDIA Venture Capital, and only 6 of the 15 sit above $45.0M. The widest spreads belong to Blockwall, which joined both a $1.7M pre-seed and a $90.0M Series B, and Sequoia Capital, which led a $30.0M seed and a $200.0M Series D in the same month.

Who led the rounds these 15 investors joined?

NAUT flags one of these 15 investors as lead on 6 of the 26 rounds, so a lead flag missing on NAUT does not mean a round had no lead. Press sources for these rounds name the leads below, which is useful when the fund you want to reach is the one that set the terms.

  • Whop $200.0M: The Fintech Log reported that Sequoia led Whop's $200.0M round at a $5.1B valuation.
  • Mecka $60.0M: Crypto Briefing reported that the robot data startup raised a $60.0M Series B led by Sequoia, with M12, Framework Ventures and NVIDIA Venture Capital also on NAUT's backer list for it.
  • Spiko $90.0M: Dealroom reported that the tokenised cash fund raised a $90.0M Series B led by NEA, with Bpifrance joining, and fintech.global also names Blockwall.
  • Kaiko $57.0M: eu.vc reported the market data firm "added $57m to its Series B, taking the round's total to $110m", and names S&P Global as the lead of the extension that Coinbase Ventures and Bpifrance joined.
  • meanwhile $37.5M: The Block reported that the Bitcoin life insurer raised $37.5M in a round it attributes to Bain Capital Crypto as lead.
  • Prime Intellect $130.0M: SiliconANGLE and letsdatascience report Radical Ventures as lead with NVIDIA participating.
  • Multiliquid $8.0M: Newswire's release says the seed was led by Polychain and took total funding to $8.0M, with Generative Ventures and Circle's venture arm taking part.
  • InfiniFi $3.0M: KuCoin reported a $3.0M seed funding round with Electric Capital leading the investment.
  • Pact Labs $7.0M: The Block reports Tether as lead with Blockchange Ventures participating.
  • Fission Labs $10.0M and Walapay $4.6M: NAUT flags Pantera Capital and Generative Ventures as the respective leads.

What crypto VC check sizes tell a BD team

  • The round size tells you which door to knock on. The 15 split cleanly: 6 investors whose median round is $45.0M or more, and 9 at $34.0M or less, with Big Brain Holdings, Generative Ventures and 2Square all under $5.0M.
  • Repeat company names are the fastest warm path. Mecka appears under 4 of the 15, then Velocity, Fission Labs and meanwhile under 3 each, and Kaiko, Nous Research, Multiliquid, Walapay, InfiniFi and Spiko under 2 each.
  • October carried the year's cluster: 14 of the 26 rounds were announced in October 2026, so these are teams with fresh money and unspent budget.
  • Only Sequoia Capital led every round it joined on NAUT's flags, 3 of 3. A seller pitching a portfolio intro should start with the investor that set the terms.
How a BD team can work this list
  1. Pick a check band6 of the 15 have a median round of $45.0M or more, from $95.0M at NVIDIA Venture Capital down to $45.9M at Blockwall.
  2. Open the investor pageEach NAUT investor page lists the rounds above and the people on the firm's team.
  3. Jump to the companyMecka is backed by 4 of the 15 and raised $60.0M in October, so 1 company gives you 4 investor relationships.
  4. Reach the decision makerUse the team list on the company's NAUT page, then ask NAUT for a warm intro through the shared investor.

What this tells a founder raising a crypto round

How a founder can target by check size
  1. Set your bandThe median of the 26 rounds was $10.0M, so a $10.0M ask is the middle of this market.
  2. Shortlist 4 namesAt $3.0M to $8.0M that is 2Square, Generative Ventures, Big Brain Holdings and Borderless Capital.
  3. Check who ledNAUT flags one of these 15 investors as lead on 6 of the 26 rounds, including Generative Ventures on the $4.6M Walapay seed.
  4. Find a referenceEvery company above links to a NAUT page with its team, so you can ask a founder who took that money first.

Which other investors wrote 2 rounds in 2026?

These 7 also clear 2 rounds with 2 disclosed amounts. The figures are NAUT's record as read on 29 October 2026, without a second press check for each round.

Investor Rounds Median Range
2 $64.0M $38.0M to $90.0M
2 $50.0M $10.0M to $90.0M
2 $28.3M $19.0M to $37.5M
2 $7.3M $4.6M to $10.0M
2 $6.5M $3.0M to $10.0M
2 $5.0M $5.0M to $5.0M
2 $2.5M $2.4M to $2.5M

How to reach the crypto investors on this list

  1. Open the investor's NAUT page from the table. It lists the 2026 rounds above, the firm's people and its other portfolio companies.
  2. Pick the shared company. 10 of the named companies above are backed by 2 or more of these 15 investors, which is the shortest warm path from one introduction to several.
  3. Open that company's NAUT page for its team, then search the person by name on NAUT to find their X or Telegram handle where the record holds one.
  4. Ask NAUT for the introduction through the investor you share, naming the round and the amount from this list so the ask is specific.

Can you pull this data through the NAUT API?

Yes. Every fund in this article is in NAUT's developer API as JSON, the same records the pages show. GET https://api.naut.so/v1/investors?sort=portfolio&limit=100 returns the funds on NAUT ranked by portfolio size, 100 a page, each with its type, links and portfolio count, for 5 credits a call. A key with no credits gets clearly marked sample data, so you can build against it first. Plans start at $49 a month for 3,000 credits (pricing), and the API docs list every endpoint. Verified Telegram, email and LinkedIn for the people on NAUT unlock on any paid plan: start a 7-day trial.

Crypto VC check sizes FAQ

How much does a crypto VC invest per round?

NAUT's record does not hold per-investor checks for most 2026 crypto rounds, so the usable measure is the size of the rounds each investor joined. For the 15 investors above, read on 29 October 2026, the median round ran from $2.5M at 2Square to $95.0M at NVIDIA Venture Capital, and the median across all 26 rounds was $10.0M.

Which crypto investors joined the most rounds in 2026?

Coinbase Ventures with 5 rounds, then NVIDIA Venture Capital and Circle with 4 each, counting rounds announced between 13 January and 26 October 2026 that NAUT holds a backer record for.

What is the biggest crypto round on this list?

Whop's $200.0M Series D, announced 21 October 2026 and led by Sequoia Capital, which The Fintech Log reported at a $5.1B valuation. The smallest disclosed round is the $1.7M functionSPACE pre-seed in September 2026, where NAUT flags Blockwall as a lead.

Which crypto VCs joined the smallest rounds?

Among the 15, the 3 lowest medians are 2Square at $2.5M, Generative Ventures at $4.6M and Big Brain Holdings at $4.8M, each across 2 or 3 rounds announced in 2026. North Island Ventures at $2.5M and Sfermion at $5.0M sit in the same band on NAUT's record.

Does crypto VC funding data show who led each round?

NAUT flags one of these 15 investors as lead on 6 of these 26 rounds, and press sources name leads on several more, among them NEA on Spiko's $90.0M Series B, Bain Capital Crypto on meanwhile's $37.5M round and Tether on Pact Labs' $7.0M Series A.

Can I get this data through an API?

Yes. NAUT's developer API at api.naut.so/v1 returns the data behind this article as JSON: GET /v1/investors?sort=portfolio&limit=100 returns the funds on NAUT ranked by portfolio size, 100 a page, each with its type, links and portfolio count. A call costs 5 credits, and a key with no credits returns marked sample data for free.

Sources

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