NAUT tracks 295 Spartan Group co-investors: investor firms that share at least 1 of the 113 round records under The Spartan Group on NAUT, read on 14 November 2026. 164 of them backed 2 or more of those rounds, and DeFiance Capital tops the list on 15 shared rounds, ahead of Alameda Research on 14 and Coinbase Ventures and Mechanism Capital on 12 each.
How this was counted: on 14 November 2026, NAUT read every round backer record on its 113 round records for The Spartan Group and counted each other firm that sits on the same round, once per round. Only live investor rows count: archived and merged rows are out, and so are rows typed as projects or companies. Every count is NAUT's record of who backed each round, so a firm a press release names but NAUT does not hold is missing here. NAUT holds no lead flag on any of the 113 Spartan Group records, and none of the 26 firms tabled below carries a lead flag on a shared round either. Built by the NAUT data team.
Which firms invest alongside The Spartan Group most often?
These 26 firms share 7 or more rounds with The Spartan Group, ranked by shared rounds on NAUT's record, ties in name order. The last 2 columns put each count against the firm's own round records on NAUT, so a high share means The Spartan Group shows up on a big slice of that firm's deals.
| Firm | Shared | Firm total | Share |
|---|---|---|---|
 DeFiance Capital |
15 | 48 | 31% |
 Alameda Research |
14 | 109 | 13% |
 Coinbase Ventures |
12 | 186 | 6% |
 Mechanism Capital |
12 | 68 | 18% |
 CMS Holdings |
11 | 110 | 10% |
 Multicoin Capital |
11 | 51 | 22% |
 Sfermion |
11 | 39 | 28% |
 Shima Capital |
11 | 117 | 9% |
 Alliance DAO |
10 | 202 | 5% |
 Delphi Digital |
10 | 59 | 17% |
 Jump Crypto |
10 | 41 | 24% |
 Morningstar Ventures |
10 | 108 | 9% |
 Animoca Brands (Ventures) |
9 | 45 | 20% |
 Figment Capital |
9 | 42 | 21% |
 GBV Capital |
9 | 112 | 8% |
 GSR |
9 | 116 | 8% |
 Hashed |
9 | 68 | 13% |
 NGC Ventures |
9 | 152 | 6% |
 Genblock Capital |
8 | 95 | 8% |
 Maven 11 Capital |
8 | 43 | 19% |
 OKX Ventures |
8 | 134 | 6% |
 HTX Ventures |
7 | 76 | 9% |
 Infinity Ventures Crypto |
7 | 48 | 15% |
 IOSG Ventures |
7 | 65 | 11% |
 Republic Capital |
7 | 45 | 16% |
 SkyVision Capital (SVC) |
7 | 57 | 12% |
For anyone mapping crypto co-investment, the share column is the sharper signal. It is NAUT's own cut: shared rounds divided by the firm's round records on NAUT, rounded to the nearest whole percent.
How deep does the Spartan Group syndicate run?
The Spartan Group syndicate on NAUT is wide and shallow at the bottom: 131 of the 295 co-investors share just 1 round with it. The other 164 repeat.
| Shared rounds with The Spartan Group | Investor firms |
|---|---|
| 1 round | 131 |
| 2 rounds | 56 |
| 3 or 4 rounds | 53 |
| 5 or more rounds | 55 |
| Total | 295 |
12 firms reach 10 or more shared rounds, the top 12 rows of the ranking table above, from DeFiance Capital on 15 to Morningstar Ventures on 10.
DeFiance Capital is the closest partner on both counts: 15 shared rounds, and 31% of its own 48 round records on NAUT include The Spartan Group.
Which Spartan Group co-investors were checked outside NAUT?
NAUT put 9 claims to outside pages: 1 about The Spartan Group and 8 about the 8 firms ranked first to eighth.
- The Spartan Group's own site describes it as a firm that advises, invests and builds with founders: "We advise, invest, and build with the best entrepreneurs in Web3."
- An outside fundraising tracker lists Multicoin Capital beside The Spartan Group on an April 2021 round, Sfermion beside it on a January 2025 round, and Shima Capital beside it on a November 2023 seed round.
- For the other 5 (DeFiance Capital, Alameda Research, Coinbase Ventures, Mechanism Capital and CMS Holdings) the check found no quotable outside line naming both firms on 1 round, so their counts rest on NAUT's record alone.
- The 18 firms ranked 9 to 26 were not put to an outside check.
What this tells a founder raising from The Spartan Group's network
- Firms with a high share are the ones that already know The Spartan Group's deal flow: DeFiance Capital at 31%, Sfermion at 28%, Jump Crypto at 24% and Multicoin Capital at 22%.
- Coinbase Ventures and Alliance DAO sit high on raw count (12 and 10) with big books of 186 and 202 round records, so The Spartan Group is a small slice of their deals.
- NAUT's own page for Alameda Research describes it in the past tense, so read its 14 shared rounds as history when you build a live target list.
- Start with the overlapOpen DeFiance Capital, Sfermion, Jump Crypto and Multicoin Capital, the 4 tabled firms with 22% or more of their rounds shared.
- Check recent activityEach firm's NAUT page lists its portfolio rounds, so drop any firm with no recent deal.
- Find the partnerEach firm's NAUT page lists its team, so pick the partner who covers your sector.
- Ask for the introA founder already backed by The Spartan Group can ask it to introduce you to a firm it shares 10 or more rounds with.
What this tells a BD team selling to Spartan Group co-investors
- The 55 firms on 5 or more shared rounds are a ready-made list of funds that back the same kind of company as The Spartan Group.
- The 26 tabled firms run from a DeFi and Web3 gaming investor such as DeFiance Capital and a metaverse investor such as Sfermion to exchange-linked funds such as OKX Ventures and HTX Ventures, so 1 pitch will not fit all of them.
- Pick the tierTake the 12 firms on 10 or more shared rounds first, then the 55 on 5 or more.
- Open each fund pageEach NAUT investor page lists the fund's portfolio and team.
- Reach the partnerUse the channels NAUT holds on each person page to contact the right partner.
How to reach the decision makers
Every firm in the table links to its NAUT investor page, which lists the fund's team and portfolio. Each person page says which channels NAUT holds on file, such as Telegram or email, and verified channels unlock on a paid plan.
Related reading on NAUT: Spartan Group portfolio: 99 companies, $17.9M average round and Crypto co-investors: 3 steps, 168 on 66 rounds for 1 fund.
Can you pull this data through the NAUT API?
Yes: GET https://api.naut.so/v1/investors/the-spartan-group with the header Authorization: Bearer $NAUT_KEY returns The Spartan Group with its team and portfolio rows, and the same call on a co-investor's slug, such as GET https://api.naut.so/v1/investors/defiance-capital, returns that firm's rows to compare. Each call costs 5 credits, and the API docs and pricing list the plans, from Essential at $49 a month for 3,000 credits. Verified Telegram, email and LinkedIn for the people at these funds unlock on any paid NAUT plan, so start a 7-day trial.
Spartan Group co-investors FAQ
Which firms invest alongside The Spartan Group most often?
On NAUT's record read 14 November 2026, DeFiance Capital shares the most rounds with The Spartan Group at 15, followed by Alameda Research on 14 and Coinbase Ventures and Mechanism Capital on 12 each.
How many co-investors does The Spartan Group have?
NAUT counts 295 investor firms that share at least 1 of The Spartan Group's 113 round records as of 14 November 2026, and 164 of them share 2 or more.
Which Spartan Group co-investor has the biggest overlap?
DeFiance Capital: 15 of its 48 round records on NAUT, or 31%, include The Spartan Group, the highest share among the 26 firms on 7 or more shared rounds.
Where can I find The Spartan Group's co-investors and their contact channels?
NAUT's data shows 295 Spartan Group co-investors, and each of the 26 firms on 7 or more shared rounds links above to a NAUT investor page with its team, while GET https://api.naut.so/v1/investors/the-spartan-group returns The Spartan Group's portfolio rows through the API. Verified Telegram, email and LinkedIn unlock on any paid NAUT plan, so start a 7-day trial.
Sources
- NAUT round backer records for The Spartan Group and its co-investors, read 14 November 2026.
- The Spartan Group website.
- crypto-fundraising.info, The Spartan Group rounds, page 23 (Multicoin Capital).
- crypto-fundraising.info, The Spartan Group rounds, page 2 (Sfermion).
- icoanalytics.org, The Spartan Group rounds, page 4 (Shima Capital).