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Most active crypto VCs: 44 funds ranked, the leader led none

By NAUT Research · · 8 min read

44 Crypto VCs funds backed 2 or more of the 254 crypto deals NAUT tracked since 1 July 2026. Logos: Coinbase Ventures, Blockchain Capital, North Island Ventures, Amber Group, Circle, Wintermute, Sequoia Capital, CMT Digital, Maven 11 Capital, Faction, Generative Ventures, Lattice, Pantera Capital, 2Square, Mirana Ventures, Y Combinator.

The most active crypto VCs since July 2026 start with Coinbase Ventures, which backed 11 of the 99 deals NAUT recorded with a named backer and led 0 of them. Between 1 July and 27 October 2026 NAUT logged 254 crypto and Web3 deals in total, 44 funds appear on 2 or more of them, and 8 of those funds led every deal they appear on.

Data note

  • Read from the NAUT database on 28 October 2026. Window: deals dated 1 July to 27 October 2026.
  • The measure is deals backed: 1 count per deal where NAUT names the fund as a backer, lead or otherwise. It counts deals. Crypto VC rankings built on cheque size are out of reach here, because NAUT stores an amount for the deal itself and no per backer figure.
  • 254 deals in the window: 211 funding rounds and 43 rows NAUT tags M&A. 99 of the 254 name at least 1 backer, and 96 of those 99 are funding rounds. 338 backer rows in total, 322 firms and 16 individual angels. Firms on 1 deal are out of the table.
  • 2 funds in the table count 1 acquisition each: Circle sits on 3 funding rounds and 1 M&A row, S&P Global on 1 funding round and 1 M&A row. The other 42 rows are funding rounds only.
  • The table covers funds that invest in crypto and Web3. 2 corporate venture arms of hardware and software companies cleared 2 deals and are left out, because their deals in this window are general AI and biology businesses. The larger of the 2 shows 11 deals in the raw query, of which 1 is crypto, which puts it below the 2 deal cutoff on its own.
  • 5 further backers on 2 or more deals are exchanges, chains and treasuries that NAUT holds as projects rather than investor rows, so they sit outside a venture ranking.
  • NAUT lists Blockchain Capital under 2 separate investor rows that have not been merged, blockchain-capital-c2 (trmlabs, Tare: 2 deals, 2 led) and blockchain-capital (NG.CASH, 0xPredicate: 2 deals, 2 led). The rank below counts the union of both rows, each company once, and links the first. So its 4 and 4 will not match either NAUT page: the linked page carries only its own 2 deals, and on its own each row sits below the rank 2 line.
  • 13 companies that took a deal in this window have no NAUT page yet, 5 of them under funds in this table (Catalyst, MochaTrade, Antseed, Navra, Xverse). Their deals count in the totals and are flagged in the lists below.
  • Written by NAUT Research from NAUT's own deal data.

Which are the most active crypto VCs since July 2026?

Coinbase Ventures backed 11 of the 99 deals that name a backer, which is 7 more than any other fund. The next tier is 5 funds on 4 deals, then 11 on 3, and the rest on 2. 1 of those 5, Blockchain Capital, reaches 4 only as the sum of its 2 unmerged NAUT rows, 2 deals each, so no single NAUT page shows the 4.

# Fund Deals backed Led Joined
1 11 0 11
2 4 4 0
3 4 1 3
4 4 0 4
5 4 0 4
6 4 0 4
7 3 3 0
8 3 2 1
9 3 2 1
10 3 1 2
11 3 1 2
12 3 1 2
13 3 1 2
14 3 0 3
15 3 0 3
16 3 0 3
17 3 0 3
18 2 2 0
19 2 2 0
20 2 2 0
21 2 2 0
22 2 2 0
23 2 2 0
24 2 1 1
25 2 1 1
26 2 1 1
27 2 1 1
28 2 0 2
29 2 0 2
30 2 0 2
31 2 0 2
32 2 0 2
33 2 0 2
34 2 0 2
35 2 0 2
36 2 0 2
37 2 0 2
38 2 0 2
39 2 0 2
40 2 0 2
41 2 0 2
42 2 0 2
43 2 0 2
44 2 0 2

Rank 2 is the union of 2 unmerged NAUT rows, as the data note sets out, so the linked page carries 2 of its 4 deals.

How many deals did each of the most active crypto VCs back?

Deals backed, the 17 funds on 3 or more
  1. Coinbase Ventures11
  2. Blockchain Capital (2 rows)4
  3. North Island Ventures4
  4. Amber Group4
  5. Circle4
  6. Wintermute4
  7. Sequoia Capital3
  8. CMT Digital3
  9. Maven 11 Capital3
  10. Faction3
  11. Generative Ventures3
  12. Lattice3
  13. Pantera Capital3
  14. 2Square3
  15. Mirana Ventures3
  16. Y Combinator3
  17. YZi Labs3

The chart stops at 3 deals because the tail is flat: 27 of the 44 funds sit on exactly 2, so rank matters less below 3 deals than the split between led and joined.

Who did the most active crypto VCs back?

The 6 funds on 4 deals or more, with the companies behind each one. Every company name links to its NAUT page, where its other backers sit.

· 11 deals backed, 0 led

  • Backed: Velocity (Series A, $38M, 14 July); Tenor Finance (Extended Seed, 22 July); OpenReserve (Seed, $25M, 3 September); Latitude (Series A, $35M, 9 September); Kaiko (Extended Series B, $57M, 14 September); CatchBack (Seed, $8M, 21 September); Jeeves (Series C, $110M, 29 September); Raven (Strategic, 29 September); Dataline (Seed, $10.6M, 21 October)
  • 2 further deals in the count went to Catalyst and MochaTrade, which have no NAUT company page yet.

· 4 deals backed, 4 led, across its 2 NAUT rows

  • Backed, on blockchain-capital-c2, the linked page: trmlabs (Extended Series C, 9 September); Tare (Seed, $13.25M, 16 September)
  • Backed, on the second row blockchain-capital: NG.CASH (Strategic, $15M, 23 September); 0xPredicate (Series A, $8M, 27 October)

· 4 deals backed, 1 led

  • Backed: Limited (Extended Seed, $11.5M, 28 September); hyperlink_xyz (Undisclosed, $2.5M, 4 October); Mural (Series A, $15M, 20 October)
  • 1 further deal in the count went to Antseed, a private token sale with no NAUT company page yet.

· 4 deals backed, 0 led

  • Backed: Velocity (Series A, $38M, 14 July); OpenReserve (Seed, $25M, 3 September); Jeeves (Series C, $110M, 29 September); Spiko (Series B, $90M, 6 October)

· 4 deals backed, 0 led

· 4 deals backed, 0 led

  • Backed: Velocity (Extended Series A, $10M, 15 September); OKX (Undisclosed, 6 October); Fission Labs (Series A, $10M, 15 October)
  • The 4th row is the acquisition NAUT tags M&A on 8 September, so it stays out of the list above.

Which crypto VCs led every deal they backed?

8 of the 44 funds led 100% of the deals they appear on in this window. For a founder picking a lead, that is the shorter list to work, because each of these firms has priced a round since 1 July. 1 entry is worth reading twice: Sequoia Capital's 3 leads include Mecka, an AI company that sits in the same NAUT deal data, which is how a generalist fund reaches this table.

Fund Deals led What it led
4 2 NAUT rows combined, 2 deals each. On the linked page: (Extended Series C); (Seed, $13.25M). On the second row: (Strategic, $15M); (Series A, $8M)
3 (Series B, $60M); Catalyst (Seed, $30M, no NAUT page yet); (Series D, $200M)
2 (Series C, $110M); MochaTrade (Seed, $4.87M, no NAUT page yet)
2 (Seed, $8M); (Seed, $1.5M)
2 (Strategic); (Seed, $8M)
2 (Seed, $13M); (Seed, $5M)
2 (Undisclosed, $14M); Navra (Series A, $19M, no NAUT page yet)
2 (Extended Seed); (Seed, $13.5M)

At the other end, 25 of the 44 funds led nothing at all in the window, Coinbase Ventures included. Treat that group as co-investors to add once a deal already has a lead.

What this tells a BD team

  • The 44 funds in the table are a warm-intro map. A fund that backed 2 or more deals in 4 months has a live portfolio and a partner who answers, and its NAUT page is the route to both.
  • Coinbase Ventures touched 11 deals, so its portfolio is the widest single door into newly funded teams: 9 of those companies have a NAUT page.
  • Companies that show up under several funds have the most paths in. Fission Labs and Velocity each carry 6 of the ranked funds, which ties them at the top of the window.
  • 16 of the 338 backer rows are individual angels rather than firms, so they sit outside this table. On a small round an angel is often the faster reply.
How a BD team works this ranking
  1. Start with the widest portfolioCoinbase Ventures backed 11 deals since 1 July, more than any other fund.
  2. Shortlist the repeat namesFission Labs and Velocity each carry 6 of the ranked funds.
  3. Open the fund pageEach of the 44 funds links to its NAUT page and the companies NAUT has it backing.
  4. Ask through the backer8 funds led every deal they joined, so their partners know those founders well enough to forward a note.

What this tells a founder raising now

  • 8 funds led every deal they appear on since 1 July. Those are the firms that set terms, so they belong at the front of a raise, and they are named in the lead table above.
  • 25 funds in the table led nothing. Approach them after a lead is signed, when the ask is a cheque and a logo.
  • Seed is where the lead tickets sit. Portal Ventures led 2 seed rounds, Vest Exchange at $13M and HoneyB at $5M, and Foundation Capital led 2 more, CatchBack at $8M and Imperial at $1.5M.
  • Check who already backed a company close to yours before you write. A fund that led a near neighbour 6 weeks ago is either the warmest intro in the market or a conflict, and the fund's NAUT page answers which.
How a founder uses the lead table
  1. Pick the funds that lead8 of the 44 funds led every deal they backed in this window.
  2. Match the stagePortal Ventures and Foundation Capital each led 2 seed rounds since 1 July.
  3. Read the portfolio for conflictsEach fund page lists the companies NAUT has it backing.
  4. Line up the co-investors after25 funds in the table led nothing, so they fill a round rather than price it.

How to reach the decision makers

Every fund in this crypto investors list has a NAUT page at naut.so/investors/<fund>, and every company named above has one at naut.so/projects/<company>. A fund page is the route to its portfolio; a company page is the route to the team and the rest of a deal's backers. Searching naut.so for the fund or the company is the fastest step from this table to a name and a message.

One worked path, using a deal that 3 of the ranked funds share. Kaiko added $57M to its Series B on 14 September 2026, with S&P Global leading, Coinbase Ventures joining and Bpifrance alongside them, 3 of the 9 backers NAUT lists on that round. eu.vc reported on the day that Kaiko "has added $57m to its Series B". A BD team selling market data has 4 doors there: Kaiko's own page and the 3 fund pages.

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.

Most active crypto VCs FAQ

Which are the most active crypto VCs since July 2026?

Coinbase Ventures is the most active, on 11 of the 99 deals that NAUT records with a named backer between 1 July and 27 October 2026. Blockchain Capital, North Island Ventures, Amber Group, Circle and Wintermute follow on 4 deals each. Blockchain Capital's 4 is the sum of its 2 unmerged NAUT rows, 2 deals each, so neither page shows all 4.

How many crypto venture capital firms backed 2 or more deals?

44 funds backed 2 or more of the 254 crypto and Web3 deals NAUT tracked from 1 July to 27 October 2026. 27 of them sit on exactly 2 deals, and 17 funds reached 3 or more.

Which VCs back crypto startups as lead investor?

8 funds led every deal they appear on in this window: Blockchain Capital, Sequoia Capital, CoinFund, Foundation Capital, Polychain Capital, Portal Ventures, Ribbit Capital, Variant. Blockchain Capital led the most, 4 across its 2 unmerged NAUT rows rather than 4 on 1 page, and the largest single round among them is Whop's Series D at $200M on 21 October 2026, led by Sequoia Capital.

Does this crypto VC ranking count deals or dollars?

Deals. Each fund's number is the count of deals between 1 July and 27 October 2026 where NAUT names it as a backer, with lead and non-lead rows split in the table. NAUT stores an amount for the deal, never a cheque size per backer, so a dollar ranking of funds is out of reach from this data.

Why is a fund with 11 deals missing from the table?

1 corporate venture arm shows 11 deals in the raw query, and 10 of those 11 companies are general AI or biology businesses, which leaves it 1 crypto deal and puts it below the 2 deal cutoff. 1 more corporate arm was dropped on the same test, with both of its deals in AI.

Where can I see a fund's full crypto portfolio?

On its NAUT page. Each of the 44 funds above links to naut.so/investors/<fund>, which carries the companies NAUT has it backing, beyond the 254 deals in this window.

Sources

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