VC pre-token portfolio companies: how to find 922 on NAUT

NAUT tracks 922 VC pre-token portfolio companies: funded crypto project rows with no launched token on NAUT's record, held between 807 investor firms, read from NAUT's own database on 5 November 2026. To find any single fund's share of them, open the fund's NAUT page, split its portfolio by token status, then read each company's own description before you treat the row as a live pre-token bet.

Data note. Every count here was read from NAUT's database on 5 November 2026, read-only, and nothing was written back. A company counts as pre-token when its NAUT row does not say a token launched, which covers rows where the field reads false and rows where it was never set. The worked example is Coinbase Ventures, whose pre-token set holds 56 companies; the table below is the 15 largest of its pre-token round records by disclosed amount, which cover 14 companies, and 11 of those 14 survived the filter described in the Coinbase Ventures section. 5 claims were put to outside sources: 3 about the funds, 1 about a single round, and 1 about an unrelated token launch date that is not used anywhere here. 4 came back confirmed and 1 came back contradicted, so the contradicted detail is left out and the rest of the rows here are NAUT's stored data rather than source-checked. NAUT Research wrote it.

How many VC pre-token portfolio companies does NAUT track?

922 funded project companies on NAUT have no launched token on their record and at least 1 live investor firm named as a backer of a round. Those 922 sit across 807 investor firms, which is 807 of the 3,337 live investor firms NAUT publishes.

Widen the lens past VC-backed rows and the number grows. 1,390 funded project rows carry no launched token under the looser read, where the field is either false or never set, and 1,193 of those carry the field set explicitly to false. The gap of 197 rows is where the record is silent rather than negative, so a screen built on this data should say which of the 2 definitions it used.

Said another way, 922 of the crypto fund portfolio companies NAUT publishes are pre-token crypto startups, so any crypto VC portfolio read on NAUT splits into the part that already trades and the part that does not.

The practical point for a deal maker: a fund's public portfolio page mixes companies whose token is already trading with companies whose cap table is still private. The second group is the one that still takes a meeting, still buys tooling, and still needs a lead investor.

Which funds hold the most VC pre-token portfolio companies?

Ranked by the count of pre-token portfolio companies on NAUT's record, these are the top 15 of the 807 firms:

The 15 bars above run from 145 down to 42, and the shape of each firm explains most of the spread.

• Alliance DAO leads at 145 because it buys at the earliest point. An outside roundup of crypto accelerator programs says it "operates as an accelerator providing $500,000 via SAFE at $5M post-money valuation", which puts a large number of very young companies on its record, most of them years away from any token.
• NVIDIA Venture Capital sits second at 99, which looks odd for a chip maker until you read what it buys. Its own NVentures page says it holds "a curated portfolio of companies that are advancing critical areas of technology, including AI infrastructure", and an AI infrastructure company usually never issues a token at all, so almost its whole book reads as pre-token on this measure.
• Coinbase Ventures is the seventh largest at 56. An outside check describes it as "the venture investment arm of Coinbase, the largest cryptocurrency exchange in the United States".
• The other 12 firms in the chart are counted from NAUT's round-backer records only, and their fund type was not checked against an outside source for this article: AU21 Capital at 89, LD Capital and X21 Digital at 63 each, NGC Ventures at 59, Spark Digital Capital at 53, Shima Capital at 51, GBV Capital at 47, ZBS Capital at 46, CMS Holdings and Magnus Capital at 44 each, and OKX Ventures with Genblock Capital at 42 each.

How to find VC pre-token portfolio companies for 1 fund

The question how to find a crypto VC portfolio has a 1-page answer on NAUT, and the 4 steps below are the ones that turn that page into a call list. Each one is a thing you can do on a NAUT page in a minute.

• Start from the fund, not the sector. 807 firms have at least 1 pre-token portfolio company on NAUT, so the fund page is the shortest route into a cluster of companies that already passed someone's diligence.
• Split the book by token status. Of NAUT's funded project rows, 922 are VC-backed with no launched token. A fund whose portfolio is mostly trading tokens is an investor-relations audience; a fund whose portfolio is mostly pre-token is a BD audience.
• Read each row's own description before you trust the flag. Yuga Labs sits inside Coinbase Ventures' no-token set on NAUT while its own NAUT description names the $APE token, so that row is a record to fix rather than a pre-token bet.
• Check the announce date, then the sector tag. 7 of the 11 Coinbase Ventures companies in the next table carry an announce date on NAUT and 4 have none on file, and 8 of the 11 carry at least 1 sector tag.

Worked example: Coinbase Ventures' pre-token book

Coinbase Ventures holds 56 pre-token portfolio companies on NAUT. The 15 largest of its pre-token round records by disclosed amount cover 14 companies, because NAUT holds 2 Coinbase-backed rounds for Tribal: a $60M Series B announced 3 February 2022 and a $22.7M Funding Round announced 27 April 2022.

3 of those 14 companies came out, each for a reason of its own:

• Yuga Labs, 1 row, because its own NAUT description names the $APE token, so the company is not pre-token whatever the flag says.
• 1 row whose NAUT slug is empty, so it has no public page for a reader to open and no way to check the description.
• ECO, 1 row, because its stored X handle reads EcoChainToken while its own description names a consumer fintech app, a mismatch that makes the row unusable for outreach until it is fixed.

That leaves 11 companies, ranked by the amount their NAUT round record displays, largest first. The 11 rounds total $670M on NAUT's record.

Company	Round type on NAUT	Amount	Announced
Kalshi	Series D Round	$185M	Not on file
Jeeves	Series C	$110M	29 Sep 2026
Tribal	Series B	$60M	3 Feb 2022
Kaiko	Extended Series B	$57M	14 Sep 2026
Chaos Labs	Series A Round	$55M	Not on file
blackbird	Series B	$50M	8 Apr 2025
Velocity	Series A	$38M	14 Jul 2026
Latitude	Series A	$35M	9 Sep 2026
Farcaster	Seed Round	$30M	Not on file
DeBank	Private A Round	$25M	Not on file
OpenReserve	Seed	$25M	3 Sep 2026

9 of the 11 are at Series A or later, counting DeBank's Private A Round as an A-tier round, and only Farcaster and OpenReserve sit below Series A. The 5 rows with a 2026 announce date are Velocity on 14 July, OpenReserve on 3 September, Latitude on 9 September, Kaiko on 14 September and Jeeves on 29 September.

What this tells a BD team

• The fresh money is in the 5 rows dated 2026. Jeeves at $110M, Kaiko at $57M, Velocity at $38M, Latitude at $35M and OpenReserve at $25M all carry an announce date between 14 July and 29 September 2026 on NAUT.
• Stablecoin treasury and payment work is the thickest seam here: Jeeves, Velocity and Latitude all describe stablecoin payment or treasury products on their own NAUT pages, and together they account for $183M of the $670M.
• A missing sector tag is a lead, not a dead end. Jeeves, Latitude and OpenReserve carry no sector tag on NAUT, and each one still carries a description that says what the company sells.
• Volume lives at the accelerators. Alliance DAO at 145 and AU21 Capital at 89 give you more pre-token names per page than any late-stage firm in the chart.

What this tells a founder raising

• A fund with a thick pre-token book is a fund that is comfortable backing a company years before any token. 9 of the 15 firms in the chart hold 50 or more such companies.
• Match the stage to the firm. Coinbase Ventures appears on rounds from a $25M seed (OpenReserve) to a $185M Series D (Kalshi), so 1 firm covers a wide band.
• Build the co-investor list from the round, not from the fund's homepage. Each round record on NAUT names the firms NAUT has on file for it, which is NAUT's record of that round rather than the full world of backers.
• Do not read a pre-token flag as a plan. It says NAUT's record holds no launched token for that company, nothing about what the company intends.

How to reach the decision makers

Every company in the table above has its own NAUT page, and each page lists the people NAUT holds for that company and which channels are on file for each of them. The route that works for a BD team is the same every time: open the fund page to get the cluster, open the company page to get the name, then open the person's page for the channel.

Related reading on NAUT: Coinbase Ventures portfolio: 152 companies tracked on NAUT and How to research a VC fund: 6 checks, 23 rounds, 27 partners.

Can you pull this data through the NAUT API?

Yes. GET https://api.naut.so/v1/investors/coinbase-ventures with an Authorization: Bearer $NAUT_KEY header returns the fund with its team and its portfolio, each row carrying the company, roundType, amountUsd, announceDate and isLead fields behind the table above, and GET https://api.naut.so/v1/projects?token=pre&sort=recent returns pre-token project rows page by page. Each data call costs 5 credits, plans and credit bundles are listed at naut.so/pricing, and the parameters are documented at naut.so/docs/api. 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.

VC pre-token portfolio companies FAQ

How many VC pre-token portfolio companies does NAUT track?

NAUT's data shows 922 funded crypto project companies with no launched token on their record and at least 1 live investor firm named on a round, read on 5 November 2026. Those 922 are spread across 807 of NAUT's 3,337 live investor firms.

Which crypto fund holds the most pre-token portfolio companies?

Alliance DAO leads NAUT's record with 145 pre-token portfolio companies as of 5 November 2026, ahead of NVIDIA Venture Capital at 99 and AU21 Capital at 89. Coinbase Ventures is seventh at 56.

Where can I find these pre-token companies and their contact channels?

On NAUT. Each of the 11 Coinbase Ventures companies in this article has a NAUT page naming the people on file and the channels NAUT holds, and the same data comes back from GET https://api.naut.so/v1/investors/coinbase-ventures at 5 credits a call. Verified Telegram, email and LinkedIn unlock on any paid NAUT plan, so you can start a 7-day trial and reveal the channels for the names you need.

Does a pre-token row mean the company will launch a token?

No. A pre-token row means NAUT's record holds no launched token for that company, which covers 1,193 funded project rows where the field is set to false and another 197 where it was never set. Several of the 11 companies in this article, including Kaiko and Jeeves, sell products that need no token at all.

How much of this was checked outside NAUT's database?

5 claims were put to outside sources for this article: 3 about the funds, 1 about a single round, and 1 about a token launch date that never surfaces in the article. 4 came back confirmed, 1 came back contradicted and was dropped, and the 922 counts and the 11 round records in the table are NAUT's own stored data rather than source-checked rows.

Sources

• NAUT's own database, read read-only on 5 November 2026: the 922 VC-backed pre-token project rows, the 807 investor firms, the 3,337 live investor firms and the Coinbase Ventures round records in the table.
• NVIDIA, NVentures program page: nvidia.com/en-us/startups/nventures.
• Coinbase Ventures described as Coinbase's venture investment arm: weusecoins.com/coinbase-ventures, with coinbase.com/ventures as the second source.
• Alliance DAO's accelerator terms: peony.ink/blog/blockchain-crypto-accelerators, with cryptorank.io/ico/alliance-dao as the second source.
• 1 claim about the round type on the Yuga Labs record came back contradicted by its sources, so no statement about that round type appears here.