A VC fund portfolio size is 2 numbers, and a founder needs both before pitching: the count the fund page shows, and the number of distinct companies behind that count. NAUT holds both on every fund page it keeps, and on 8 November 2026 the page for Alliance DAO showed 202 investments, and those 202 round records resolved to 193 distinct companies, at a median round of $350,000 against the $9,468,182 average round size NAUT stores for the same fund.
Data note. Every number here was read from NAUT's own database on 8 November 2026, read-only. NAUT lists this fund under 1 investor row, so no rows were merged and nothing was counted twice across pages. 201 of the 202 round records carry an amount and 47 carry an announce date, so a date-based read covers 47 records and an amount-based read covers 201. 138 of the 202 records come from the fund's own cohort feed and 64 come from 3 third-party funding trackers. 4 claims were put to outside sources: 3 came back confirmed, 2 of them on reports this article cites for 2 of the 10 rounds in the table below, and 1 claim about the cheque the accelerator writes today came back contradicted and is left out. 2 dated rounds of $25,000,000 each are held back from the table because their stored company record carries a defect: 1 is stored under a company name that does not match its own slug, handle and domain, and 1 is typed as an investor while its own sectors and summary describe a Layer-2 chain. NAUT Research wrote it, and the places where NAUT's stored fields lose to NAUT's own rows are left in rather than tidied away.
How to check a VC fund portfolio size before you pitch
3 steps, each one a single read. They take about 5 minutes on any fund NAUT holds, and they change the cheque you ask for.
- Step 1. Read the 2 headline numbers. The fund page carries an investment count, and NAUT stores an average round size for the fund beside it. For this fund they read 202 and $9,468,182 on 8 November 2026. Write both down and treat them as the fund's headline, nothing more.
- Step 2. Count the rows behind the count. The portfolio list holds 202 round records at 193 distinct companies. 9 of those companies carry 2 records each, which is exactly where the gap of 9 between 202 and 193 comes from. Aztec Network is 1 of the 9: the same $17,000,000 Series A sits in NAUT twice from 2 import feeds, 1 copy dated 16 December 2021 and 1 copy with no date.
- Step 3. Split the rows by cheque type. 138 of the 202 records are typed as accelerator cheques, every one of them $350,000, which is why the median of all 201 priced records is $350,000. The other 64 records hold 63 priced rounds worth $667,500,000, at a mean of $10,595,238 and a median of $6,000,000.
- Read the headline numbersAlliance DAO shows 202 investments, and NAUT stores an average round size of $9,468,182.
- Count the rows behind it202 round records resolve to 193 distinct companies, with 9 companies holding 2 records each.
- Split by cheque type138 records are $350,000 accelerator cheques; the other 63 priced rounds average $10,595,238.
What is this VC fund portfolio size, 202 rounds or 193 companies?
Both, and the difference matters when you write the first line of a cold note. NAUT's data shows 202 round records for this fund and 193 distinct companies across them, so the 202 the page puts at the top of its portfolio sits 9 above the company count. A founder who writes "1 of your 202 portfolio companies" is quoting a round count. A founder who writes "1 of your 193" is quoting companies, and that is the number a partner recognises.
The 9 doubled companies are the whole of the gap. Each of the 9 holds 2 records in the portfolio list, usually the same round arriving from 2 feeds with 1 copy undated, as at Aztec Network.
Does the stored average round size match the rounds?
No, and this is the check worth 5 minutes of anyone's time. The stored average round size reads $9,468,182, while the 201 priced records average $3,561,194 and have a median of $350,000, a floor of $250,000 and a ceiling of $109,000,000. The stored figure is 2.7x the mean of all 201 priced records and 27x their median.
It is not a random number. Strip out the 138 accelerator cheques and the 63 remaining priced rounds average $10,595,238, which puts the stored field about 11% below that figure. So the stored average round size describes the venture rounds this fund joined and passes over the cohort cheques that make up 138 of the 202 records. A founder raising a $5,000,000 seed reads the stored $9,468,182 and aims at a fund whose typical cheque, on NAUT's stored record, is either $350,000 at cohort stage or a share of a round in the $6,000,000 range.
Which rounds are the biggest, and what did each company raise?
The 10 largest dated rounds on NAUT's record for this fund, ranked by amount raised in the round, with every amount and date as the fund's portfolio list stores it on 8 November 2026, amounts shown in millions. 2 further dated rounds of $25,000,000 each are held back for the record defects named in the data note, and the largest priced record of all, at $109,000,000, carries no announce date so it cannot sit in a dated table.
| Company | Round type | Amount | Date |
|---|---|---|---|
 Boba Network |
Series A | $45.0M | 5 Apr 2022 |
 Avail |
Series A | $43.0M | 4 Jun 2024 |
 0G |
Pre-Seed | $35.0M | 26 Mar 2024 |
 Clipper |
Equity | $21.0M | 13 Jul 2021 |
 Efinity |
Private | $18.9M | 31 Mar 2021 |
 Aztec Network |
Series A | $17.0M | 16 Dec 2021 |
 ALETHIA AI |
Private | $16.0M | 24 Aug 2021 |
 0x |
Series A | $15.0M | 5 Feb 2021 |
 Goldfinch |
Seed | $11.0M | 16 Jun 2021 |
 BOB |
Seed | $10.0M | 27 Mar 2024 |
2 of these 10 were put to a published report. The Block reported on 5 April 2022 that Boba Network raised $45,000,000 in Series A funding at a valuation of $1,500,000,000, matching NAUT's amount and date. TechCrunch reported on 26 March 2024 that 0G Labs, a web3 infrastructure firm, had raised $35,000,000 in a pre-seed round, matching the NAUT record for that company. The other 8 rows in this table are printed from NAUT's own data.
How much did each of the 10 largest dated rounds raise?
These 10 rounds hold $231,900,000 of the $715,800,000 that the fund's 201 priced records add up to, so the top 10 by amount carry 32% of the tracked total across 193 companies.
What this tells a founder about to pitch
- Ask for the cheque the rows show, not the cheque the stored field implies. On this fund's record that is a seat in a round near the $6,000,000 median of the 63 priced non-cohort rounds. The flat $350,000 on the 138 cohort rows is a stored historical figure: the fund's own site contradicted it as the cheque the programme writes today, so confirm the current cohort number with the fund before you name one.
- Quote the company count. 193 distinct companies, not the 202 investments the page counts, is the figure that survives a partner checking it.
- Check the date coverage before you claim a trend. 47 of the 202 records carry an announce date, so any sentence about what this fund did last quarter rests on those 47.
- Look at the ceiling for where the fund follows on. The largest dated round on the record is the $45,000,000 Series A at Boba Network, and the largest priced record of any kind is $109,000,000.
- Name the company you resemble. Goldfinch at $11,000,000 and BOB at $10,000,000 sit near the middle of the venture rows, so they are the comparison a partner can place.
- Pick your stage138 of the 202 records are $350,000 cohort cheques, so a pre-seed pitch goes to the programme.
- Set the askThe 63 priced non-cohort rounds have a median of $6,000,000, so ask for a seat in a round that size.
- Name a comparisonGoldfinch at $11,000,000 and BOB at $10,000,000 are the nearest tracked peers to a seed ask.
- Find the partnerNAUT holds 13 people tied to this fund, 9 of them with their own NAUT person page.
What this tells a BD lead or an investor sourcing
- Treat a portfolio count as a pointer and the row list as the evidence. Here the 202 investments the page counts sit 9 above the 193 companies, because 9 companies hold 2 round records each.
- The cohort rows are a customer list. 138 companies came through at a flat $350,000, and every one of them is a team at the stage that buys tooling, audits and market making.
- The venture rows are the co-investment map. 47 dated records across 2021 to 2026 are the rounds where this fund sat alongside other firms, and on NAUT's own dated rows 25 of the 47 fall in 2021 and 7 in 2024.
- Sort by amount when you want warm names. The 10 rows in the table above are the biggest dated cheques on the record, and each one links to a NAUT company page with its team.
- Pull the 193 companiesThe fund page lists every company NAUT ties to this fund, 193 of them on 8 November 2026.
- Split cohort from venture138 records are $350,000 cohort cheques; 64 records are the venture side.
- Open the biggest rounds firstBoba Network at $45,000,000 and Avail at $43,000,000 lead the dated rows.
- Get the name and the channelEach company page names its team, and a paid NAUT plan opens their verified channels.
How to reach the people behind the fund and its portfolio
NAUT holds 13 people tied to this fund, 9 of whom have their own NAUT person page, and 4 of the 13 carry a stored job title, 3 of those naming a co-founder seat. On the portfolio side, every one of the 193 companies has its own NAUT page, and the page names the team NAUT holds for it. Verified Telegram, email and LinkedIn addresses for those people unlock on any paid NAUT plan, so a shortlist built from this article turns into a send list on the same visit. Anyone listed on NAUT can ask for their page to be removed at https://naut.so/legal/data-deletion.
Related reading on NAUT: How to verify a crypto investor: 6 checks, 143 funds pass 4 and Crypto VC check sizes: 15 investors, $1.7M to $200M rounds.
Can you pull this data through the NAUT API?
Yes. GET https://api.naut.so/v1/investors/alliance-dao with Authorization: Bearer $NAUT_KEY returns this fund with its team and its portfolio, each row carrying company, roundType, amountUsd, announceDate and isLead, which is every field the 3 steps above use. A data call costs 5 credits, the Essential plan at $49 a month gives 3,000 credits, and the docs are at naut.so/docs/api with plans at naut.so/pricing. Verified Telegram, email and LinkedIn for the people on those pages unlock on any paid NAUT plan, so you can start a 7-day trial and reveal them as you work.
VC fund portfolio size FAQ
How big is a VC fund portfolio on NAUT, and how do you read the number?
NAUT's page for Alliance DAO showed 202 investments on 8 November 2026, and those 202 round records resolve to 193 distinct companies, so the honest answer is 193 companies across 202 rounds. Read the headline count as a round count and the company list as the portfolio.
Why does a crypto VC portfolio count differ from the company count?
Because 1 company can hold more than 1 round record. For this fund, 9 of the 193 companies carry 2 records each, which accounts for all 9 of the difference between 202 records and 193 companies, and the duplicate pairs are usually the same round arriving from 2 feeds, as with the $17,000,000 Series A at Aztec Network.
Is the fund average round size field the cheque I should ask for?
No. The $9,468,182 average round size NAUT stored for this fund on 8 November 2026 is 2.7x the $3,561,194 mean and 27x the $350,000 median of its 201 priced records, because 138 of those records are flat $350,000 cohort cheques. The 63 priced rounds outside the cohort feed have a median of $6,000,000, which is the better anchor for a seed ask.
Where can I find this fund's portfolio companies and their decision makers?
Open the fund's NAUT page at Alliance DAO for all 193 companies and the 13 people NAUT ties to the firm, or call GET https://api.naut.so/v1/investors/alliance-dao for the same rows in JSON. Verified Telegram, email and LinkedIn for the people on those pages unlock on any paid NAUT plan, so you can start a 7-day trial and work the list the same day.
How current is this data?
Every figure here was read from NAUT's database on 8 November 2026. 47 of the 202 round records carry an announce date, running from 5 February 2021 to 4 October 2026, and 155 carry no date, so the record is a portfolio snapshot rather than a dated timeline.
Sources
- NAUT's own database, read read-only on 8 November 2026: the fund row's stored average round size, and all 202 round records with their amounts, dates, round types and companies.
- The live Alliance DAO fund page on NAUT, checked on 8 November 2026, for the 202 investments it shows in its portfolio section.
- The Block, 5 April 2022: its report on the Boba Network Series A, with TechCrunch's report of the same round as a second source.
- TechCrunch, 26 March 2024: 0G Labs launches with $35M pre-seed to build a modular AI blockchain.
- 1 further claim, about the cheque the accelerator writes today, was put to the fund's own site on 8 November 2026 and came back contradicted, so it is left out of this article and the 138 cohort records are reported as what NAUT stores.