United States · Investor

Multicoin Capital

Last cheque observed Oct 2026; 130 cheques on record.

Deploying nowNew fund $641M, Aug 2026VC firm

Pre-seedSeedSeries ACryptoCryptocurrency

Deploying now
80%of best year16cheques in 12 months, 130 on record
Since the last cheque3days00hrs00min00sec
Median round$7.5MCheque size, as they say$100K – $500MRounds led11 of 130Sole investor7 roundsMostly inUnited States, 66%
Pitch Multicoin Capital

Multicoin Capital highlights

  1. 01

    16 cheques in the last 12 months

  2. 02

    Mostly Seed and Series A: 73% of its rounds

  3. 03

    Sole investor in 7 rounds, median $3.0M

What they do

We make long-term, high-conviction investments in category-defining crypto companies and protocols across public and private markets on behalf of sophisticated families, foundations, endowments, and institutional investors.From their own website
Type
VC firm (from a list, unverified)
Cheque size
$100K – $500M as they say
Stages
Pre-seedSeedSeries ASeries BGrowth
Sectors
CryptoCryptocurrency
Based in
Austin, United States
Cold pitches
Not accepted

The record

Every round we can evidence, newest first130 appearances

  1. 2026

    13 rounds

  2. Oct
    Birch HillSeed · US · Pulse 2.0$4.0MLed
  3. Aug
    De¹Venture · SGUndisclosedWith 1 other
  4. Jul
    Trasia LabsSeed · SG$1.8MSole investor
  5. Jun
    El DoradoSeries A · CO · LatamList$9.0MWith 7 others
  6. May
    FunSeries A · US · AlleyWatch$72MLed
  7. May
    ZcashVenture · USUndisclosedWith 3 others
  8. May
    The College Sports CompanyUS$350KWith 4 others
  9. Apr
    HYFIX Spatial IntelligenceSeed · US$15MWith 1 other
  10. Apr
    DriftDebt · AU$100MWith 3 others
  11. Apr
    MezoVenture · US$19MWith 3 others
  12. Mar
    P2P meToken sale · PA$5.2MWith 1 other
  13. Feb
    RentAHuman.aiVenture · CAUndisclosedWith 1 other
  14. Jan
    SquadsVenture$46MWith 4 others
  15. 2025

    19 rounds

  16. Dec
    LI.FISeries A · DE · Ventureburn$29MLed
  17. Dec
    FinSeries A · US$17MWith 3 others
  18. Nov
    io.netSeries A · US$400KWith 4 others
  19. Oct
    Forward IndustriesUS · Ventureburn$1.6BWith 2 others
  20. Oct
    CrunchDAOSeed · Ventureburn$5.0MWith 5 others
  21. Oct
    Crunch LabTechStartups$5.0MWith 3 others
  22. Oct
    FhenixVentureUndisclosedWith 3 others
  23. Oct
    InferenceSeed · US$12MSole investor
  24. Jun
    KalshiSeries C · US · TechCrunch$185MWith 5 others
  25. Jun
    Yield.xyzSeed · US$5.0MSole investor
  26. Jun
    HivemapperVenture · USUndisclosedWith 5 others
  27. Apr
    Arch LabsSeries A · US · TechStartups$13MWith 6 others
  28. Apr
    P2P meSeed · PA$2.0MWith 1 other
  29. Mar
    FastLaneVenture · US$6.0MWith 2 others
  30. Mar
    Recall LabsSeries A · US$30MWith 5 others
  31. Mar
    Across ProtocolToken sale · US$41MWith 4 others
  32. Feb
    GEODNETToken sale · US$8.0MWith 4 others
  33. Feb
    FanTV AISeries A$3.0MSole investor
  34. Jan
    SolanaGrowth · US$10MWith 5 others
  35. 2024

    14 rounds

  36. Dec
    The College Sports CompanyVenture · US$5.0MWith 2 others
  37. Sept
    Gradient NetworkSeed · SG$10MWith 2 others
  38. Sept
    Permissionless LabsSeries A · US$10MWith 2 others
  39. Aug
    zkMeSeed · HK$4.0MWith 3 others
  40. Jul
    MezoSeries A · US$7.5MWith 3 others
  41. Jun
    Enso FinanceSeed · CH$4.2MWith 3 others
  42. Jun
    Mountain ProtocolSeries A · US$8.0MWith 4 others
  43. May
    El DoradoSeed · CO$3.0MWith 6 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration5 named

BJBrian James SmithCFO, COO, and Member - Multicoin Capital Management, LLCiForm ADV
DADaniel Alejandro LeonardoChief Compliance Officer and Deputy General CounseliForm ADV
GEGreg Elias XethalisGeneral Counsel and Member - Multicoin Capital Management, LLCiForm ADV
PAPyahm Ahra SamaniManaging Partner and Member - Multicoin Capital Management, LLCiForm ADV
TJTushar JainManaging Partner and Member - Multicoin Capital Management, LLCiForm ADV

We also hold 16 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

What the register says

From the firm's own filings with the SEC, which it must file accurately by law

$2.7Bassets it managesOct 2026
3+funds on filenumbered funds in its name
Registeredinvestment adviserfull reporting to the SEC
Legal name
Multicoin Capital Management, LLC
SEC number
CRD 297302

Funds on its Form ADV

11 private funds, $4.3B in gross assets · filed May 2024

Private equity 6Venture 4Hedge 1

  1. Multicoin Capital Master Fund, L.P.Hedge611 investors$2.2B
  2. Multicoin Venture Fund II, L.P.Private equity198 investors$764M
  3. Multicoin Venture Fund III, L.P.Private equity445 investors$631M
  4. Multicoin Private Fund V, L.P.Private equity9 investors$525M
  5. Multicoin Opportunities Fund I, L.P.Private equity50 investors$96M
  6. Multicoin Private Fund II, L.P.Venture14 investors$55M
  7. Multicoin Private Fund I, L.P.Venture7 investors$48M
  8. Multicoin Private Fund II (Offshore), L.P.Venture9 investors$11M
  9. Multicoin Private Fund III (Offshore), L.P.Private equity26 investors$201K
  10. Multicoin HNT I, L.P.Private equity2 investors$66K

And 1 more on the filing.

Who they invest alongside

The investors most often in the same rounds as Multicoin Capital. A count of rooms they were both in, not a relationship either has claimed.

Recently backed

The latest companies Multicoin Capital put money into.

On podcasts

4 episodes naming Multicoin Capital in the title, and 4 more that mention it.

Mentioned in

Quick answers about Multicoin Capital

What does Multicoin Capital invest in?

Multicoin Capital invests most often at Seed and Series A (73% of the rounds on record), in sectors such as Crypto and Cryptocurrency.

How active is Multicoin Capital?

130 investments on record, 16 of them in the last 12 months, and it led 11. The most recent was in Oct 2026.

What has Multicoin Capital invested in recently?

Its most recent investments on record: Birch Hill (Seed, Oct 2026), De¹ (Venture, Aug 2026) and Trasia Labs (Seed, Jul 2026).

How big are Multicoin Capital's cheques?

The median round it joins is $7.5M. It says it writes cheques of $100K to $500M.

Does Multicoin Capital lead rounds?

Sometimes: it led 11 of its 130 investments on record (8%).

Where does Multicoin Capital invest?

Most of the companies it backs are in the United States (66%), Singapore (9%) and Colombia (6%).

Is Multicoin Capital investing now?

Yes: it is actively investing, with 16 investments in the last 12 months.

Who does Multicoin Capital invest alongside?

Most often Coinbase Ventures (19 rounds together), Solana Ventures (13 rounds together) and ParaFi Capital (10 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it