# Protocol Labs: portfolio, investments and team

> Protocol Labs is a corporate vc based in United States. 87 investments on record, 7 in the last 12 months, latest Apr 2026.

Source: https://millionrounds.com/fund/protocol-labs (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Protocol Labs

Last cheque observed Apr 2026; 87 cheques on record.

Email

Deploying now Corporate VC

Pre-seed Seed Series A Nft Nfts Web3

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Deploying now

**33%** of best year **7** **cheques in 12 months**, 87 on record

Since the last cheque **213** days **00** hrs **00** min **00** sec

Median round **$4.3M** Cheque size, as they say **$25K – $20M** Rounds led **0 of 87** Sole investor **5 rounds** Mostly in **United States, 46%**

Pitch Protocol Labs

## Protocol Labs highlights

- 01 7 cheques in the last 12 months
- 02 Mostly Seed and Pre-seed: 60% of its rounds
- 03 Sole investor in 5 rounds, median $2.2M

## What they do

- **Type:** Corporate VC (from a list, unverified)
- **Cheque size:** $25K – $20M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Nft Nfts Web3
- **Based in:** Athens, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **87 appearances**

- **2026** 5 rounds
- **Apr** **[Reppo Labs](https://millionrounds.com/company/reppo-labs)** Seed · KY **$20M** Sole investor
- **Mar** **[Bluesky](https://millionrounds.com/company/bluesky)** Series B · US · TechCrunch **$100M** With 8 others
- **Mar** **[Cryptio](https://millionrounds.com/company/cryptio)** Series B · FR · Ventureburn **$45M** With 8 others
- **Mar** **[Akave](https://millionrounds.com/company/akave)** Seed · US · TechStartups **$6.7M** With 8 others
- **Mar** **[Enlightra](https://millionrounds.com/company/enlightra)** Venture · CH **Undisclosed** With 4 others
- **2025** 10 rounds
- **Dec** **[Gensyn](https://millionrounds.com/company/gensyn)** Series B · GB **$17M** With 5 others
- **Nov** **[Synchron](https://millionrounds.com/company/synchron)** Series D · US · Startup Daily **$305M** With 13 others
- **Oct** **[TransCrypts](https://millionrounds.com/company/transcrypts)** Seed · US · Ventureburn **$15M** With 8 others
- **Sept** **[Kindred](https://millionrounds.com/company/kindred)** Seed · US **$8.3M** With 3 others
- **Jun** **[Zama](https://millionrounds.com/company/zama)** Series B · FR · TechStartups **$57M** With 5 others
- **May** **[Impossible Cloud Network](https://millionrounds.com/company/impossible-cloud-network)** Venture · CH **$34M** With 2 others
- **May** **[Secured Finance](https://millionrounds.com/company/secured-finance)** Venture · CH **$4.1M** With 3 others
- **Apr** **[Jupe](https://millionrounds.com/company/jupe)** Seed · US **$1.1M** With 5 others
- **Apr** **[Bagel AI](https://millionrounds.com/company/bagel-ai)** Seed · US **$5.5M** With 7 others
- **Jan** **[Reppo Labs](https://millionrounds.com/company/reppo-labs)** Seed · KY **$2.2M** Sole investor
- **2024** 21 rounds
- **Dec** **[Exabits AI](https://millionrounds.com/company/exabits-ai)** Seed · US **$15M** With 2 others
- **Dec** **[Spexi](https://millionrounds.com/company/spexi)** Series A · CA **$12M** With 5 others
- **Dec** **[Impossible Cloud](https://millionrounds.com/company/impossible-cloud)** DE **$1.5M** With 2 others
- **Nov** **[Metropolis World Ltd](https://millionrounds.com/company/metropolis-world-ltd)** Venture · GB **Undisclosed** With 1 other
- **Nov** **[Randamu](https://millionrounds.com/company/randamu)** Pre-seed · US **$3.3M** Sole investor
- **Oct** **[Bluesky](https://millionrounds.com/company/bluesky)** Series A · US · TechCrunch **$15M** With 7 others
- **Oct** **[Talent Protocol](https://millionrounds.com/company/talent-protocol)** Venture · PT **Undisclosed** With 2 others
- **Oct** **[Glow Labs](https://millionrounds.com/company/glow-labs)** Venture · KY **$30M** With 4 others
- **Oct** **[Blockcast](https://millionrounds.com/company/blockcast)** Seed · US **$2.9M** With 1 other
- **Sept** **[Swan Chain](https://millionrounds.com/company/swan-chain)** Venture · CA **Undisclosed** With 1 other
- **Aug** **[Fabric Cryptography](https://millionrounds.com/company/fabric-cryptography)** Series A · US **$33M** With 3 others
- **Aug** **[double jump.tokyo](https://millionrounds.com/company/double-jump-tokyo)** Series D · JP **$10M** With 4 others
- **Jul** **[Compute Labs](https://millionrounds.com/company/compute-labs)** Pre-seed **$3.0M** With 3 others
- **May** **[Expanso](https://millionrounds.com/company/expanso)** Venture · US **Undisclosed** With 2 others
- **May** **[WeatherXM](https://millionrounds.com/company/weatherxm)** Series A · GR **$7.7M** With 5 others
- **May** **[Toku](https://millionrounds.com/company/toku)** Venture · SG **Undisclosed** With 3 others
- **May** **[Parasail](https://millionrounds.com/company/parasail)** Seed · US **$4.0M** With 3 others
- **Mar** **[Lumino](https://millionrounds.com/company/lumino)** Pre-seed · US **$2.8M** With 2 others
- **Feb** **[Glif](https://millionrounds.com/company/glif)** Seed · BS **$4.5M** With 3 others
- **Jan** **[Canza Finance](https://millionrounds.com/company/canza-finance)** Seed · US **$2.3M** With 6 others
- **Jan** **[Quicknode](https://millionrounds.com/company/quicknode)** Venture · US **Undisclosed** With 5 others
- **2023** 15 rounds
- **Dec** **[web3mine](https://millionrounds.com/company/web3mine)** Seed · LI **$6.0M** With 1 other
- **Nov** **[Mosaia](https://millionrounds.com/company/mosaia)** Pre-seed · US **$300K** Sole investor
- **Oct** **[AstraKode](https://millionrounds.com/company/astrakode)** Pre-seed · IT **$63K** With 2 others
- **Aug** **[Anytype](https://millionrounds.com/company/anytype)** Series A · DE **$13M** With 4 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

We hold **5** 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.

## The cheque

Pre-seed Seed Series A

Median round joined **$4.3M** the round, not its cheque Alone, median **$2.2M**

Led 0 of 87 rounds **0%**

- **Said size:** $25K – $20M
- **Sole investor:** 5 rounds
- **Last cheque:** Apr 2026

Rounds by stage said on their site

- Seed said *34*
- Pre-seed said *16*
- Series A said *15*
- Venture *12*
- Series B said *5*
- Series D *2*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 11
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 7
- [Outlier Ventures](https://millionrounds.com/fund/outlier-ventures) 7
- [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital) 6
- [ConsenSys](https://millionrounds.com/fund/consensys) 6
- [LongHash Ventures](https://millionrounds.com/fund/longhash-ventures) 6

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## Who they invest alongside

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

[**Y Combinator** Accelerator **11** rounds together](https://millionrounds.com/fund/y-combinator)[**Alumni Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Outlier Ventures** Accelerator **7** rounds together](https://millionrounds.com/fund/outlier-ventures)[**Blockchain Capital** VC firm **6** rounds together](https://millionrounds.com/fund/blockchain-capital)[**ConsenSys** VC firm **6** rounds together](https://millionrounds.com/fund/consensys)[**LongHash Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/longhash-ventures)[**Techstars** VC firm **6** rounds together](https://millionrounds.com/fund/techstars)[**Hack VC** VC firm **5** rounds together](https://millionrounds.com/fund/hack-vc)[**Multicoin Capital** VC firm **5** rounds together](https://millionrounds.com/fund/multicoin-capital)[**Polygon** Hedge fund **5** rounds together](https://millionrounds.com/fund/polygon)[**1kx** VC firm **4** rounds together](https://millionrounds.com/fund/1kx)[**Blockchange Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/blockchange-ventures)

## Recently backed

The latest companies Protocol Labs put money into.

[**Bluesky** $100M · Mar 2026](https://millionrounds.com/company/bluesky)[**Cryptio** $45M · Mar 2026](https://millionrounds.com/company/cryptio)[**Akave** $6.7M · Mar 2026](https://millionrounds.com/company/akave)[**Enlightra** Mar 2026](https://millionrounds.com/company/enlightra)[**Gensyn** $17M · Dec 2025](https://millionrounds.com/company/gensyn)[**Synchron** $305M · Nov 2025](https://millionrounds.com/company/synchron)

## Mentioned on podcasts

Episodes that name Protocol Labs in their description, not their title.

- [The a16z Show](https://millionrounds.com/podcasts/a16z) 30 Aug 2020 · 34 min Measuring & Managing Community Orgs, Developer Relations and Beyond Mentions [Google](https://millionrounds.com/fund/google-assistant-investments)[Protocol Labs](https://millionrounds.com/fund/protocol-labs)[Amir Shevat](https://millionrounds.com/person/amir-shevat-2) Apple PodcastsShow page
- [The a16z Show](https://millionrounds.com/podcasts/a16z) 2 Aug 2020 · 47 min Working, Making, Creating in Public... and Private Mentions [Ford Foundation](https://millionrounds.com/fund/ford-foundation)[Protocol Labs](https://millionrounds.com/fund/protocol-labs) Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 14 Apr 2020 · 49 min Ciaran O'Leary, BlueYard Mentions [Protocol Labs](https://millionrounds.com/fund/protocol-labs) Apple PodcastsShow page
- [The a16z Show](https://millionrounds.com/podcasts/a16z) 19 Dec 2017 · 23 min a16z Podcast: Trends in Cryptocurrencies Mentions [Chris Dixon](https://millionrounds.com/fund/chris-dixon)[Polychain](https://millionrounds.com/fund/polychain)[Protocol Labs](https://millionrounds.com/fund/protocol-labs) *+1* Apple PodcastsShow page
- [The a16z Show](https://millionrounds.com/podcasts/a16z) 15 Sept 2017 · 22 min a16z Podcast: Getting Applications Into People's Hands Mentions [Chris Dixon](https://millionrounds.com/fund/chris-dixon)[Protocol Labs](https://millionrounds.com/fund/protocol-labs)[Juan Benet](https://millionrounds.com/person/juan-benet) Apple PodcastsShow page

## Quick answers about Protocol Labs

### What does Protocol Labs invest in?

Protocol Labs invests most often at Seed and Pre-seed (60% of the rounds on record), in sectors such as Nft, Nfts and Web3.

### How active is Protocol Labs?

87 investments on record, 7 of them in the last 12 months. The most recent was in Apr 2026.

### What has Protocol Labs invested in recently?

Its most recent investments on record: Reppo Labs (Seed, Apr 2026), Bluesky (Series B, Mar 2026) and Cryptio (Series B, Mar 2026).

### How big are Protocol Labs's cheques?

The median round it joins is $4.3M. It says it writes cheques of $25K to $20M.

### Does Protocol Labs lead rounds?

Rarely, if at all: none of its 87 investments on record names it as the lead.

### Where does Protocol Labs invest?

Most of the companies it backs are in the United States (46%), Cayman Islands (8%) and Switzerland (8%).

### Is Protocol Labs investing now?

Yes: it is actively investing, with 7 investments in the last 12 months.

### Who does Protocol Labs invest alongside?

Most often Y Combinator (11 rounds together), Alumni Ventures (7 rounds together) and Outlier Ventures (7 rounds together).

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