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Hashed portfolio: 59 companies on NAUT, 41 with a token

By NAUT Research · · 10 min read

59 Hashed portfolio portfolio companies tracked on NAUT, from April 2018 to September 2025. Logos: Yuga Labs, Secret Network, NEAR Protocol, Aptos, Recall Network, ThunderCore, Kite AI, Terra Luna Classic, Distinct Possibility Studios, Humanity, Origin Protocol, Supra (prev. SupraOracles).

NAUT tracks 59 companies in the Hashed portfolio, across 64 funding rounds the fund backed between April 2018 and September 2025. The 61 of those rounds that carry an amount add up to $2.05B, the average round is $33.5M and the median $10.0M, and 41 of the 59 companies have launched a token.

Data note. Counted on 1 November 2026 from NAUT's own database: the company rows tied to the investment rows where NAUT records Hashed as a backer. NAUT lists the firm under 2 rows, Hashed (hashed.com) and a separate Hashed Emergent row (hashedem.com); the second carries no rounds on NAUT, so every number here comes from the main row. That row holds 68 backer rows, which this page reads as 64 rounds across 59 companies: 1 pair of rows records the same Common (prev. Commonwealth) seed round twice and is counted once, 2 rows sit on a company row whose stored name does not match its own slug, domain and description, so those 2 rows and their amounts are left out rather than filed under the wrong company, and 1 row on Recall Network is stored as a cumulative private round of $42.0M, which is that company's lifetime funding total rather than a round on top of its $30.0M Series A, so it is left out of every count and sum here. The fund's own page counts the full set, showing all 68 of those rows as investments, and its stored average round field reads $33.4M.

3 of the 64 rounds disclose no amount, at Bounce Finance, Liminal Custody and 1 of the 2 Humanity rounds, so the $2.05B and the averages rest on 61 rounds. 13 rounds carry no announcement date, so the 51 dated rounds are what define the window above, and a date is shown only where NAUT holds one. Each company sits in exactly 1 sector group, the first sector tag NAUT holds for it, so the groups add up to 59; 6 companies carry no tag at all and get their own group. Written by NAUT Research.

What is in the Hashed portfolio on NAUT?

Sector Cos Rounds Median Disclosed
Gaming 12 12 $5.0M $553.7M
DeFi 10 10 $7.0M $72.0M
AI 8 9 $21.0M $870.0M
Layer 1, 2, 3 8 8 $13.9M $141.8M
Infrastructure 7 8 $20.0M $306.7M
No sector tag 6 8 $2.6M $52.4M
Other sectors 5 5 $2.8M $24.6M
DEXs 3 4 $5.5M $25.1M

Gaming is the largest group by company count, and it is also where the single biggest cheque sits. Counting every sector tag a company carries rather than its first one, DeFi is the widest theme at 22 of the 59 companies, ahead of gaming at 15 and base layers at 14. The 8 AI companies carry the highest median round of any group at $21.0M, against $7.0M in DeFi, so a founder raising an AI round and a founder raising a DeFi round are pitching the same fund at very different cheque sizes. These Hashed investments reach back 8 years, so the sector mix reads as the fund's history rather than its position today.

Hashed 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. The raised column adds every round in this set, so a company backed twice shows the sum of both. The token column is NAUT's own record of whether the company has launched one.

Gaming (12 companies)

The group Hashed has the most companies in, and the home of the $450.0M round that is 22% of the disclosed total on this page.

Company Raised Latest round Token
$450.0M No date No
$30.1M No date No
$19.0M No date Yes
$18.0M Series A, Nov 2021 No
$15.0M Seed and private, Dec 2021 No
$6.0M Seed, Mar 2022 No
$3.9M No date Yes
$3.0M Funding, Dec 2021 Yes
$2.5M Private, Nov 2020 Yes
$2.5M Funding, May 2019 Yes
$2.3M Seed and private, Nov 2021 Yes
$1.5M Seed, Nov 2019 Yes

DeFi (10 companies)

Lending, staking and yield teams, with the smallest median round of the 3 largest groups.

Company Raised Latest round Token
$28.5M Strategic, Apr 2018 Yes
$10.0M Strategic, May 2024 Yes
$7.5M Strategic, Jun 2023 Yes
$7.5M No date No
$7.0M Seed, Feb 2025 Yes
$4.7M Funding, Jul 2021 Yes
$3.8M Private, Jan 2024 Yes
$2.0M Pre-seed, Jul 2023 Yes
$1.0M Seed, May 2021 Yes
- Funding, Mar 2021 No

AI (8 companies)

The group with the highest median round on this page, and 2 of the 4 largest rounds in the set.

Company Raised Latest round Token
$400.0M Funding, Feb 2022 Yes
$350.0M Funding, Apr 2022 Yes
$30.0M Series A, Feb 2022 Yes
$48.0M Seed and Series A, Sep 2025 Yes
$21.0M Pre-seed and seed, Jul 2024 Yes
$10.0M Seed, Nov 2021 Yes
$6.0M No date Yes
$5.0M Pre-seed, Dec 2024 Yes

Layer 1, 2 and 3 (8 companies)

Base layers and rollups, and the oldest cluster in the portfolio: 5 of these 8 rounds were announced before 2020.

Company Raised Latest round Token
$50.0M Funding, Feb 2019 Yes
$32.0M Funding, Aug 2018 Yes
$18.0M Series A, Oct 2022 Yes
$17.1M Funding, Oct 2019 Yes
$10.7M Funding, Oct 2019 Yes
$10.0M Strategic, Apr 2021 Yes
$2.0M Strategic, Aug 2021 Yes
$2.0M Seed, Sep 2019 Yes

Infrastructure (7 companies)

Chains, oracles and node services, including the $200.0M round at Aptos.

Company Raised Latest round Token
$200.0M Strategic, Mar 2022 Yes
$30.0M No date Yes
$24.0M Private investment, Sep 2023 Yes
$20.0M No date No
$15.0M Series A, Mar 2024 Yes
$10.2M Seed, Aug 2018 Yes
$7.5M Seed, Feb 2022 Yes

No sector tag (6 companies)

These 6 rows carry no sector tag on NAUT, so a sector filter never returns them. 2 of the 6 took a second cheque from the fund.

Company Raised Latest round Token
$19.6M Funding, Apr 2023 No
$15.0M Funding, May 2022 No
$10.0M Series A, Jan 2022 No
$4.0M Strategic, Mar 2021 No
$2.3M Seed, Jul 2021 No
$1.5M Seed, Nov 2021 No

Other sectors (5 companies)

A wallet, a custodian and 3 rows whose first tag puts them on their own.

Company Raised Latest round Token
$17.0M No date Yes
$3.2M Seed, May 2021 No
$2.4M Private, Apr 2021 Yes
$2.0M Private, Apr 2022 Yes
- No date No

Decentralized exchanges (3 companies)

Onchain venues and perpetual exchanges.

Company Raised Latest round Token
$10.1M Strategic, Sep 2024 Yes
$10.0M Series B, Jan 2021 No
$5.0M Seed, Oct 2019 Yes

How big is a round in the Hashed portfolio?

The 61 rounds with an amount run from $1.0M to $450.0M. The average is $33.5M and the median is $10.0M, so the mean sits above 3 times the typical round. 4 rounds explain most of that gap: Yuga Labs at $450.0M, Secret Network at $400.0M, NEAR Protocol at $350.0M and Aptos at $200.0M are $1.40B together, 68% of the $2.05B. Take those 4 out and the other 57 rounds average $11.3M.

Disclosed total per company, the 12 largest in the set
  1. Yuga Labs$450.0M
  2. Secret Network$400.0M
  3. NEAR Protocol$350.0M
  4. Aptos$200.0M
  5. ThunderCore$50.0M
  6. Kite AI$48.0M
  7. Terra Luna Classic$32.0M
  8. Distinct Possibility Studios$30.1M
  9. Recall Network$30.0M
  10. Humanity$30.0M
  11. Origin Protocol$28.5M
  12. Supra (prev. SupraOracles)$24.0M

The chart adds every counted round per company, so Kite AI shows both of its rounds. 3 rounds sit in no bar, because Bounce Finance, Liminal Custody and 1 Humanity round disclose no amount.

By round type, seed rounds are what this fund joins most: 20 of the 64 rows are a seed round, another 12 are filed as a funding round, 9 as a private round and 8 as a strategic round. 5 are a Series A and 1 is a Series B, so a team past Series A is the exception in this set.

Where the stored rows and their sources disagree

A source check on the largest rounds and on the rows behind every repeat claim found 2 rows where the stored value does not match the cited source: the announcement date on ThunderCore's $50.0M round, and the amount on Distinct Possibility Studios' round. Both appear above as NAUT stores them, and both are flagged here rather than quietly corrected, because the source for each names Hashed in the round either way. The other rows were not checked one by one, so read this as the mismatches found in the rows that were.

NAUT's 64 counted backer rows for Hashed carry no lead flag, so read that as an unfilled field rather than a fact about how the firm invests. The sources checked for this page do name a lead on 2 of the rounds. The Recall Network Series A of February 2022, announced by the team under its earlier name Ceramic, was led by Multicoin Capital and Union Square Ventures (USV), per the team's own post on that $30.0M round. Humanity's own blog puts Kingsway Capital at the head of its $30.0M seed round, with Hashed among the firms that joined.

Which companies did Hashed back more than once?

5 of the 59 companies hold 2 rounds each with Hashed on them. A second cheque is the warmest path into a fund, because the people on both sides have already closed a deal together.

Company Raised What NAUT records
$48.0M Seed and Series A rounds, $33.0M, Sep 2025; seed round, $15.0M, no date
$30.0M Seed round, $30.0M, no date; private round, undisclosed, no date
$19.6M Funding round, $18.0M, Apr 2023; seed funding round, $1.6M, no date
$10.1M Seed round, $6.1M, Jan 2022; strategic round, $4.0M, Sep 2024
$4.0M Strategic round, $3.0M, Mar 2021; seed round, $1.0M, Nov 2020

LogX is the clearest follow-on pattern in the set with a date on both rows: a $6.1M seed round in January 2022, then a $4.0M strategic round 32 months later.

Who invests alongside Hashed?

NAUT records 211 other firms as backers somewhere in these 64 rounds, and 16 of them appear in 5 or more. Coinbase Ventures is the most frequent at 10 rounds, ahead of The Spartan Group at 9. Ranked by shared rounds, the firms that turn up 6 or more times are these 6.

Firm Rounds Companies
10 10
9 8
7 6
6 5
6 6
6 6
Rounds shared with Hashed, the 6 firms that appear most often
  1. Coinbase Ventures10
  2. The Spartan Group9
  3. HashKey Group7
  4. Pantera Capital6
  5. Animoca Brands6
  6. Arrington Capital6

10 more firms share 5 rounds each, and the tail is wide: 211 firms across 64 rounds means most of them appear once. A backer count here is NAUT's record of who is named on a round, so a firm that joined a round without any source naming it does not show up.

What the Hashed portfolio tells a BD team

  • The median round is $10.0M against a $33.5M average. A pitch built on the headline average aims at the wrong company size. Half of these rounds are $10.0M or smaller.
  • 41 of the 59 companies already have a token. If you sell listings, market making, custody or treasury services, that is your qualified list, and the 18 without a token are the pre-token side of it.
  • Gaming is the biggest group, at 12 companies. AI is smaller at 8 and carries the highest median round, $21.0M, so the newer AI names hold the most fresh cash per deal.
  • 5 teams took a second cheque. Those 5 pages name the people who have now closed 2 rounds with the same fund.
  • 6 companies carry no sector tag. A sector filter never returns them, so work from the list above 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 group you sell intoGaming holds 12 of the 59 companies, DeFi 10 and AI 8, so start with 1 table rather than the whole portfolio.
  2. Size the pitch to the medianHalf of these rounds are $10.0M or smaller, so price against a team that just raised that, not against the $450.0M round at Yuga Labs.
  3. Sort by token status41 of the 59 companies have launched a token, which decides whether you lead with exchange, treasury or growth services.
  4. Go through a co-investorCoinbase Ventures shares 10 of these rounds and The Spartan Group 9, so a warm path through either reaches the same table.
  5. Find the person on the NAUT pageEvery company above links to its page, which lists its team and the channels NAUT has on file for them.

What this tells a founder raising

  • Seed is the entry point. 20 of the 64 rows are a seed round and 2 more are pre-seed, against 5 Series A rounds and 1 Series B.
  • The recent cheques are AI and DeFi. The 2 dated rounds from 2025 are Kite AI at $33.0M and Fragmetric at $7.0M.
  • Gaming is the deepest vein. It is the largest group at 12 companies, and W3GG, Derby Stars, Monsterra and Gunstar Metaverse all sit in it.
  • Bring the syndicate. 211 firms appear alongside this fund in NAUT's record, so a round that already holds 1 of the 16 frequent names is a shorter conversation.
How a founder can use this page before a pitch
  1. Match your stage20 of the 64 rounds are seed and 5 are Series A, so a seed deck fits this fund's pattern best.
  2. Find the closest comparisonOpen the sector table above, pick the 2 or 3 companies nearest yours, then read their rounds on their NAUT pages.
  3. Ask for the warm pathCoinbase Ventures, The Spartan Group and HashKey Group share 10, 9 and 7 of these rounds, so a mutual backer is the shortest introduction.
  4. Check who to write toEach portfolio company page on NAUT lists its team, which is where a founder to founder introduction starts.

Related reading on NAUT: Coinbase Ventures portfolio: 152 companies tracked on NAUT and Crypto investor API: 474 rounds for 3 funds in 3 calls.

Can you pull this data through the NAUT API?

Yes. The portfolio behind this article is 1 call: GET https://api.naut.so/v1/investors/hashed returns the fund with its team and every portfolio row, each carrying the company, roundType, amountUsd, announceDate and isLead fields this page is built from, for 5 credits with the key sent as $NAUT_KEY. A key with no credits gets clearly marked sample data in the same shape, so you can build against it before you pay, and plans start at $49 a month for 3,000 credits (pricing), with every endpoint in the API docs. Verified Telegram, email and LinkedIn for the people on these company pages unlock on any paid NAUT plan: start a 7-day trial.

Hashed portfolio FAQ

How many companies are in the Hashed portfolio?

NAUT tracks 59 companies backed by Hashed as of 1 November 2026, across 64 funding rounds announced between April 2018 and September 2025. NAUT's fund page counts 68 investments, which include a duplicated round, 2 rows filed against a mislabeled company and 1 row that stores a company's lifetime funding total rather than a round, so this page recomputes the set at 64 rounds and 59 companies and should be read as the part of the portfolio NAUT has verified.

What companies has Hashed invested in?

The largest rounds in NAUT's set went to Yuga Labs at $450.0M, Secret Network at $400.0M, NEAR Protocol at $350.0M and Aptos at $200.0M. By company count the portfolio leans on gaming (12 companies), DeFi (10), AI (8) and base layers (8), and 41 of the 59 companies have launched a token.

How much does Hashed invest in a round?

Across the 61 rounds in NAUT's set that carry an amount, announced between April 2018 and September 2025, the median round was $10.0M and the average $33.5M, running from $1.0M to $450.0M. Those are the sizes of the whole round, not the fund's own cheque, which is rarely disclosed.

Which funds invest alongside Hashed?

NAUT records 211 other firms across these 64 rounds, and 16 of them appear in 5 or more. The most frequent are Coinbase Ventures at 10 shared rounds, The Spartan Group at 9 and HashKey Group at 7.

Where can I find the teams in Hashed's portfolio and their contact channels?

On NAUT. Each of the 59 companies on this page has a NAUT page that lists its team with the channels NAUT holds for each person, and GET https://api.naut.so/v1/investors/hashed returns the same portfolio as JSON for 5 credits. Anyone listed can ask NAUT to remove their page at https://naut.so/legal/data-deletion. Verified Telegram, email and LinkedIn unlock on any paid NAUT plan: start a 7-day trial.

Sources

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