Start 7-day trial
All articles

Crypto VC syndicates: 20 fund pairs, AU21 in 13 of them

By NAUT Research · · 6 min read

62 Crypto VC syndicates shared rounds for the densest of 20 fund pairs on NAUT, read 10 November 2026. Logos: AU21 Capital, X21 Digital, LD Capital, Magnus Capital, Genblock Capital, NGC Ventures, Spark Digital Capital, ExNetwork Capital, Momentum 6, Shima Capital, Moonwhales Ventures, GBV Capital, ZBS Capital, MV Global, Morningstar Ventures, OKX Ventures.

NAUT tracks 31,447 co-investor pair records, and the 20 densest crypto VC syndicates in that table are fund pairs sharing 24 to 62 rounds, read on 10 November 2026. AU21 Capital and X21 Digital top the list at 62 shared rounds, and AU21 Capital sits in 13 of the 20 pairs.

How this list was built: on 10 November 2026, NAUT Research read its own co-investor table, which holds 31,447 pair records, and took the 20 pairs with the highest joint deal count. The ranking is by shared rounds, meaning funding rounds where NAUT's record lists both funds as backers of the same company, so it ranks crypto VC co-investment by how often 2 firms turn up in the same round rather than by money. 16 funds fill the 20 pairs. Of those 16, NAUT holds a stored X handle for 14, and all 14 were put to the fund's own X profile plus a second page on 10 November 2026: each one resolved to the same account, with 5 differing from the stored spelling only in letter case. 6 further claims about founding years and fund size were queued for a source check and came back with nothing, so this article leaves them out. Every count below is recomputed from the 20 rows, and no figure here is a NAUT portfolio total or a capital figure.

Which crypto VC syndicates share the most rounds?

These are the 20 fund pairs with the highest number of shared rounds on NAUT's record, ranked by that count; the Rounds column is the number of rounds the 2 funds share.

Rank Fund Co-investor Rounds
1 62
2 40
3 40
4 38
5 36
6 36
7 35
8 33
9 31
10 31
11 31
12 30
13 29
14 28
15 28
16 27
17 27
18 25
19 25
20 24

7 of the 20 pairs share 35 rounds or more. The gap between first and second place is 22 rounds, the widest step anywhere in the table.

Which funds show up in the most crypto VC syndicates?

16 crypto venture funds fill the 20 pairs. The table below counts how many of those pairs each fund appears in, ranked by that count; the Pairs column is that count out of 20, and the handle column is the X account each stored handle resolved to on 10 November 2026. The fund each one shares the most rounds with is in the ranked table above.

Pairs Fund X handle
13 @AU21Capital
4 @X21_Digital
3 @Liquid_Capital_
2 @Magnus_Fund
2 @GenblockCapital
2 @NGC_Ventures
2 @capital_spark
2 @exnetworkcap
2 @Momentum_6
2 @shimacapital
1 None on file
1 @gbvofficial
1 @ZBScapital
1 None on file
1 @Morningstar_VC
1 @OKX_Ventures

10 of the 16 funds appear in 2 or more of the pairs, and 10 of the 16 share more rounds with AU21 Capital than with any other fund in the 20. NAUT holds no X handle for Moonwhales Ventures or MV Global, and both fund pages are still the route to their records.

How many rounds does each top pair share?

Shared rounds per fund pair, the top 12 of 20
  1. AU21 Capital and X21 Digital62
  2. X21 Digital and Magnus Capital40
  3. AU21 Capital and LD Capital40
  4. AU21 Capital and Magnus Capital38
  5. AU21 Capital and Genblock Capital36
  6. AU21 Capital and NGC Ventures36
  7. AU21 Capital and Spark Digital Capital35
  8. X21 Digital and ExNetwork Capital33
  9. AU21 Capital and Moonwhales Ventures31
  10. AU21 Capital and Momentum 631
  11. AU21 Capital and GBV Capital31
  12. LD Capital and NGC Ventures30

These 12 pairs each share 30 rounds or more. The other 8 pairs in the table run from 29 down to 24, and each bar links 1 fund in the pair, 11 different fund pages across the 12 bars.

What this tells a BD team

How a BD team works this table
  1. Start with [AU21 Capital](/investors/au21-capital)It sits in 13 of the 20 pairs, so 1 NAUT page opens most of this group.
  2. Add the partner pageEvery row links both funds, including X21 Digital at 62 shared rounds.
  3. Work the pair together7 of the 20 pairs share 35 rounds or more, so the same 2 names keep turning up.
  4. Take the channelNAUT holds an X handle for 14 of the 16 funds, and a paid plan opens the verified channels.

What this tells a founder raising a round

  • Picking 1 fund in a dense pair puts the second name in front of you: Momentum 6 appears with AU21 Capital at 31 rounds and with X21 Digital at 24.
  • LD Capital is the clearest multi-partner node after the top 2, in 3 pairs: AU21 Capital at 40, NGC Ventures at 30 and OKX Ventures at 25.
  • The table says nothing about who led. NAUT's joint deal count counts rounds where both funds are on the record as backers, so treat each pair as a co-investment habit and check each round on the fund's own page.
  • A small group carries the whole list: 16 funds fill all 20 pairs.
How a founder uses the pairs
  1. Find your closest fundOpen its NAUT page and read the co-investors it already shares rounds with.
  2. Name the second fund10 of the 16 funds here appear in 2 or more of the 20 pairs.
  3. Order the asksShima Capital and Genblock Capital share 28 rounds without either top fund.
  4. Check the round recordEach fund page lists the rounds behind the count, company by company.

How to reach these 16 funds

Each fund above links to its NAUT page, which carries the firm's record, its people and the channels NAUT has on file. 14 of the 16 funds have an X handle on NAUT, printed in the table above, and the 2 without one, Moonwhales Ventures and MV Global, are reachable through their fund pages. Anyone listed can ask NAUT to remove their page at https://naut.so/legal/data-deletion.

Related reading on NAUT: Crypto investor database: 50 funds, 299 contacts measured and How to find crypto investors by round size: 28 funds, 4 steps.

Can you pull this data through the NAUT API?

The co-investor counts behind this table are not a documented endpoint, so the nearest documented call is GET https://api.naut.so/v1/investors/au21-capital, which returns 1 fund with its team and its portfolio rows (company, round type, amount, announce date and lead flag), and GET https://api.naut.so/v1/investors?q=X21%20Digital finds the partner fund's slug for the same call. Each data or search call costs 5 credits, and plans start at Essential, $49 a month for 3,000 credits, at naut.so/pricing; the parameters are at naut.so/docs/api. Verified Telegram, email and LinkedIn addresses unlock on any paid NAUT plan, so start a 7-day trial before you run the pull.

Crypto VC syndicates FAQ

Which crypto VCs co-invest together most often?

On NAUT's co-investor table read on 10 November 2026, AU21 Capital and X21 Digital share the most rounds of any fund pair, 62. The next 2 pairs share 40 each: X21 Digital with Magnus Capital, and AU21 Capital with LD Capital.

Which fund appears in the most crypto VC syndicates on NAUT?

AU21 Capital appears in 13 of the 20 densest fund pairs on NAUT's co-investor table, read on 10 November 2026. X21 Digital is second with 4 of the 20, and LD Capital third with 3.

How many shared rounds does the 20th pair have?

Momentum 6 and X21 Digital sit 20th with 24 shared rounds, read on 10 November 2026. Every pair in the top 20 shares at least 24 rounds, and 12 of them share 30 or more.

Does a shared round mean the 2 funds led it together?

No. NAUT's joint deal count counts funding rounds where both funds appear on NAUT's record as backers of the same company, and it says nothing about which fund led. To see the rounds behind a count, open either fund's NAUT page and read its round records.

Where can I find these 16 crypto venture funds and their contact channels?

All 16 funds have a NAUT fund page, linked in the tables above, and 14 of the 16 also carry an X handle on NAUT as of 10 November 2026. You can pull a fund and its people with GET https://api.naut.so/v1/investors/au21-capital at 5 credits a call, and verified Telegram, email and LinkedIn addresses unlock on any paid NAUT plan, so start a 7-day trial to open them.

Sources

Browse all articles