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NGC Ventures co-investors: 338 firms, AU21 Capital on 36 rounds

By NAUT Research · · 7 min read

338 firms NGC Ventures co-investors on the 150 rounds and 142 companies NAUT tracks for the fund, read 8 November 2026. Logos: NGC Ventures, Algorand, Agoric, Aergo, Anoma Network, Oasys, KuCoin, Nibiru, SubQuery Network, Infrared Finance, peaq, Polyhedra.

NGC Ventures co-investors come to 338 investor firms on NAUT's record, sitting alongside the Singapore fund on the 150 round records and 142 companies NAUT tracks for it, read on 8 November 2026. NAUT's data shows AU21 Capital on 36 of those rounds, more than any other firm, then LD Capital on 30 and Spark Digital Capital on 19.

Data as of 8 November 2026, from NAUT's own funding records. The fund's NAUT page displays 152 round records and $1,276,750,000 of capital deployed; this article works from 150 of those records, at 142 companies, after 2 rows were set aside for reasons given below. Across the 147 of the 150 that carry an amount, those rounds raised $832,850,000, at a $5,665,646 mean and a $3,300,000 median. NGC Ventures is a Singapore crypto VC established in 2017 by 5 named founders. NAUT Research wrote this report; no one paid for it.

What was set aside, and what was checked outside NAUT:

  • 1 row, a $400,000,000 Secret Network round dated 1 February 2022, is out: the source stored against it names the round and the amount without naming NGC Ventures, and a check of 2 outside pages on 8 November 2026 did not find the fund among that round's investors either. It is in no table or total here.
  • 1 row, a $46,000,000 Gunzilla Games round dated 10 August 2022, is out: 2 reports checked on 8 November 2026 name that round's investors without naming NGC Ventures.
  • 1 co-backer row that shares 10 rounds is held back as a data defect: it stores the name GSR on a slug reading architech-acq-by-gsr and is typed as a project, so it is left out of the ranking and the 338.
  • NAUT's stored capital-deployed figure for the fund ($1,276,750,000) and the sum of the 149 priced records read on 8 November 2026 ($1,278,850,000) differ by $2,100,000, so the 2 numbers are not interchangeable.
  • NAUT's record carries no lead flag on any of the 150 rounds, so this article does not say who led any of them.
  • 11 claims were put to outside sources on 8 November 2026 and 1 is cited here, the fund's 2017 founding and Singapore base. 7 of them read NGC Ventures' own portfolio page and came back confirmed with no second source located, so this article makes no claim about which companies the fund lists on its site today. 2 came back not found and 1 contradicted, and all 3 are left out. Every other figure below is NAUT's stored record, not an outside check.

Which NGC Ventures co-investors appear most often?

AU21 Capital shares the most rounds. The table ranks the 13 firms that appear on 11 or more of the 150 rounds, by the number of rounds shared with NGC Ventures on NAUT's record. Share is of those 150 rounds, and Latest is the most recent round each firm shares with the fund.

Firm Rounds Share Latest
36 24.0% 3 March 2022
30 20.0% 7 May 2022
19 12.7% 7 May 2022
18 12.0% 28 April 2023
17 11.3% 28 February 2024
15 10.0% 26 August 2025
15 10.0% 15 June 2022
14 9.3% 18 July 2024
14 9.3% 10 June 2021
14 9.3% 28 December 2021
13 8.7% 27 January 2024
11 7.3% 18 June 2024
11 7.3% 4 April 2024

8 more firms share 10 rounds each: Kyros Ventures, MEXC Ventures, MV Global, Momentum 6, Morningstar Ventures, SevenX Ventures, X21 Digital and ZBS Capital. Below them the list thins out fast. Of the 338 investor firms, 193 share 2 or more rounds, 69 share 5 or more, 21 share 10 or more, and 145 appear on exactly 1 round. The median round carries 7 other backers on NAUT's record and the busiest carries 27, while 4 rounds carry NGC Ventures as the only backer NAUT holds.

Which companies did NGC Ventures co-investors back together?

These are the 16 companies with the largest amount NAUT stores across the rounds it holds for them. The amount is the size of each round, not any one firm's cheque, and the rounds column counts only the records NAUT holds with NGC Ventures as a backer.

Company Amount Rounds Sectors
$62M 1 L1/2/3, RWA, DeFi
$32M 1 L1/2/3, Infrastructure
$30M 1 L1/2/3
$25M 1 Infrastructure, Privacy
$20M 1 L1/2/3, Gaming
$20M 1 CEX
$20M 1 Infrastructure
$19.5M 2 L1/2/3, DeFi, RWA
$19M 1 SocialFi
$18M 2 Infrastructure, DeFi, Intelligence, DePIN
$18M 1 No sector tag
$16.5M 2 DeFi
$16M 1 Infrastructure
$16M 1 AI
$15M 1 DePIN, L1/2/3
$15M 1 DeFi, L1/2/3, Infrastructure, AI

DeFi is the most common tag across the 142 companies, on 43 of them, then Infrastructure on 24, Gaming on 18, L1/2/3 on 17 and AI on 12. 21 of the 142 carry no sector tag at all, and 76 of them have a launched token on NAUT's record. 8 companies hold 2 round records each with NGC Ventures as a backer: Nibiru, SubQuery Network and Infrared Finance are 3 of them.

How much did NGC Ventures co-investors put into each company?

Amount on NAUT's record, the 12 largest companies, $M
  1. Algorand$62M
  2. Agoric$32M
  3. Aergo$30M
  4. Anoma Network$25M
  5. Oasys$20M
  6. KuCoin$20M
  7. Ultrain$20M
  8. Nibiru$19.5M
  9. Gari Network$19M
  10. SubQuery Network$18M
  11. Litentry$18M
  12. Infrared Finance$16.5M

The chart shows the amount NAUT stores for each round, shared by every backer on it. The 12 companies above account for $300,000,000 of the $832,850,000, across 15 of the 147 priced records, so the other 132 priced records average $4,036,742. 3 of the 150 records carry no amount.

When were these rounds announced?

52% of the activity sits in 1 year. 78 of the 150 records are dated in 2021, and the 2 most recent are small: Hyperbot took a $6,750,000 Strategic Round dated 26 August 2025, and Walapay a $4,600,000 Seed dated 2 October 2026.

Year announced Round records Share of the 150
2021 78 52.0%
2022 17 11.3%
2020 12 8.0%
2024 12 8.0%
2023 7 4.7%
2018 5 3.3%
2019 4 2.7%
2025 1 0.7%
2026 1 0.7%
No date stored 13 8.7%

By round type, NAUT labels 45 of the 150 records Seed Round, 33 Funding Round, 25 Private Round and 18 Strategic Round, which leaves 29 across 13 other labels including 4 Series A and 1 Series B.

What this tells a BD team

  • The syndicate is a warm-intro map. 21 of the 338 firms share 10 or more rounds with NGC Ventures, from AU21 Capital at 36 down to the 8 firms on 10 each. Each one has a NAUT investor page with its team on it.
  • The portfolio skews to infrastructure and DeFi. 43 of the 142 companies carry a DeFi tag and 24 carry Infrastructure, so a team selling audits, market making, custody or node services has 62 companies carrying 1 of those 2 tags to work from.
  • Token launches are a timing signal. 76 of the 142 companies have a launched token on NAUT's record, which separates the teams that already shipped from the 66 that have not.
  • Recent activity is thin on NAUT's record. 2 of the 150 records are dated on or after 1 January 2025, Hyperbot at $6,750,000 and Walapay at $4,600,000, so a cold open built on a fresh NGC Ventures round has 2 candidates.
How a BD team can work this list
  1. Start with the busiest co-backersAU21 Capital shares 36 rounds, LD Capital 30 and Spark Digital Capital 19.
  2. Pick the sector you sell into43 of the 142 companies carry a DeFi tag, 24 Infrastructure, 18 Gaming and 17 L1/2/3.
  3. Sort by cheque sizeThe 12 largest rounds run from Algorand at $62,000,000 to Infrared Finance at $16,500,000.
  4. Find the decision makerEach company and investor page on NAUT lists its team and the channels NAUT holds.

What this tells a founder raising

  • Expect a crowd, not a single cheque. The median round here carries 7 other backers beside NGC Ventures on NAUT's record, and the busiest carries 27. 4 rounds carry NGC Ventures alone.
  • The median round is $3,300,000. Across the 147 priced records the mean is $5,665,646 and the largest is Algorand at $62,000,000, so the middle of this book is a seed-sized round.
  • Seed is the most common label. 45 of the 150 records are typed Seed Round, 25 Private Round and 18 Strategic Round, with 4 Series A and 1 Series B.
  • Repeat backing happens, at 8 companies. Nibiru, SubQuery Network and Infrared Finance each hold 2 round records with NGC Ventures as a backer.
How a founder can use this list
  1. Build the syndicate list first193 of the 338 firms share 2 or more of the 150 rounds and 21 share 10 or more.
  2. Match your stage45 of the 150 records are typed Seed Round, 25 Private Round and 18 Strategic Round.
  3. Size the askThe median priced record is $3,300,000 and the mean is $5,665,646 across 147 of them.
  4. Ask a portfolio founder for the intro8 companies hold 2 rounds each, including Nibiru and Infrared Finance.

How to reach the decision makers

Every firm and company named above links to its NAUT page, which lists the team, the backers and the people to contact. The 338 investor firms on these rounds all have a NAUT investor page, because that is where the co-backer record is stored, so a shortlist of the 21 firms sharing 10 or more rounds is 21 team pages away from a named contact.

Related reading on NAUT: Crypto co-investors: 3 steps, 168 on 66 rounds for 1 fund and Crypto VC Singapore: 11 funds, 1 with a 2026 round.

Can you pull this data through the NAUT API?

Yes. One call, GET https://api.naut.so/v1/investors/ngc-ventures, returns the fund with its team and its portfolio, each row carrying the company, roundType, amountUsd, announceDate and isLead fields this article is built from, at 5 credits a call on the NAUT API. To widen it to other funds, GET https://api.naut.so/v1/investors?q=ventures&sort=portfolio returns a fund search ranked by portfolio size, 30 rows a page and up to 100 with limit; a key goes in an Authorization: Bearer $NAUT_KEY header and plans start at $49 a month for 3,000 credits on NAUT pricing. Verified Telegram, email and LinkedIn for the people on those pages unlock on any paid NAUT plan, so start a 7-day trial to see them.

NGC Ventures co-investors FAQ

Which VCs invest with NGC Ventures most often?

On NAUT's record, read 8 November 2026, AU21 Capital shares 36 of the 150 rounds NAUT tracks for NGC Ventures, LD Capital 30, Spark Digital Capital 19, GBV Capital 18 and OKX Ventures 17. 338 investor firms appear in total, and 145 of them on exactly 1 round.

How many companies has NGC Ventures backed, and how much is on NAUT's record?

NAUT's data shows 142 companies across the 150 round records used here, and $832,850,000 across the 147 of those records that carry an amount, read 8 November 2026. The fund's own NAUT page displays 152 records and $1,276,750,000 of capital deployed, which includes the 2 rows set aside in this article.

Which NGC Ventures-backed companies raised the largest rounds?

By the amount NAUT stores for each round, read 8 November 2026, Algorand at $62,000,000 on 24 October 2018 is the largest, then Agoric at $32,000,000, Aergo at $30,000,000 and Anoma Network at $25,000,000. The median priced record is $3,300,000.

When did NGC Ventures last back a round NAUT tracks?

NAUT holds 2 records dated on or after 1 January 2025: a $6,750,000 Strategic Round for Hyperbot dated 26 August 2025 and a $4,600,000 Seed for Walapay dated 2 October 2026. 78 of the 150 records are dated in 2021.

Where can I find the NGC Ventures portfolio and these 338 co-investor firms?

On NAUT. Each of the 338 investor firms sharing these 150 rounds has a NAUT investor page with its team, and NGC Ventures links to all of them; GET https://api.naut.so/v1/investors/ngc-ventures returns the same rows for a script. Verified Telegram, email and LinkedIn for the people on those pages unlock on any paid NAUT plan, so start a 7-day trial to see them.

Sources

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