# The Spartan Group: portfolio, investments and team

> The Spartan Group is a venture studio based in Hong Kong SAR China. 94 investments on record, 4 in the last 12 months, latest Jul 2026.

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

Hong Kong SAR China · [Investor](https://millionrounds.com/investors)

# The Spartan Group

Last cheque observed Jul 2026; 94 cheques on record.

Email

Deploying now Venture studio

Seed Series A Series B Web3 Crypto Defi

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Deploying now

**16%** of best year **4** **cheques in 12 months**, 94 on record

Since the last cheque **122** days **00** hrs **00** min **00** sec

Median round **$4.5M** Rounds led **0 of 94** Sole investor **4 rounds** Mostly in **United States, 42%**

Pitch The Spartan Group

## The Spartan Group highlights

- 01 4 cheques in the last 12 months
- 02 Mostly Seed and Venture: 82% of its rounds
- 03 Sole investor in 4 rounds, median $3.8M

## What they do

> We advise, invest and build with the best entrepreneurs in Web3. From their own website

- **Type:** Venture studio
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Web3 Crypto Defi
- **Based in:** Hong Kong SAR China
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **94 appearances**

- **2026** 4 rounds
- **Jul** **[THEA-AI](https://millionrounds.com/company/thea-ai)** Seed · GB **$8.0M** With 2 others
- **May** **[Saturn](https://millionrounds.com/company/saturn)** Seed · US **$2.0M** Sole investor
- **Feb** **[Power Protocol](https://millionrounds.com/company/power-protocol)** Seed · GB **$3.0M** With 3 others
- **Jan** **[River](https://millionrounds.com/company/river)** Ventureburn **$12M** With 3 others
- **2025** 7 rounds
- **Jun** **[Digital Entertainment Asset](https://millionrounds.com/company/digital-entertainment-asset)** Series A · SG **$15M** With 1 other
- **Jun** **[Digital Entertainment Asset](https://millionrounds.com/company/digital-entertainment-asset)** Series A · SG **$6.9M** With 2 others
- **Feb** **[Payman AI, Inc](https://millionrounds.com/company/payman-ai-inc)** Seed · US **$800K** With 4 others
- **Feb** **[GOAT Gaming](https://millionrounds.com/company/goat-gaming)** Venture · SG **$4.0M** With 4 others
- **Feb** **[Blum](https://millionrounds.com/company/blum)** Seed **$5.0M** With 2 others
- **Jan** **[Zkcandy](https://millionrounds.com/company/zkcandy)** Seed · AU **$4.0M** Sole investor
- **Jan** **[Oshi](https://millionrounds.com/company/oshi)** Seed · SG **$13M** With 4 others
- **2024** 23 rounds
- **Nov** **[Openlayer](https://millionrounds.com/company/openlayer)** Seed · US **$5.0M** With 2 others
- **Oct** **[Alliance Games](https://millionrounds.com/company/alliance-games)** Series A · DE **$5.0M** With 2 others
- **Sept** **[Omni Network](https://millionrounds.com/company/omni-network)** Venture · US **$500K** With 4 others
- **Sept** **[Ambrus Studio](https://millionrounds.com/company/ambrus-studio)** Venture **Undisclosed** With 3 others
- **Aug** **[VOID](https://millionrounds.com/company/void)** Series A · US **$11M** With 5 others
- **Jul** **[Kinto](https://millionrounds.com/company/kinto)** Seed · US **$5.0M** With 2 others
- **Jul** **[Kintsu](https://millionrounds.com/company/kintsu)** Seed · US **$4.0M** With 2 others
- **Jun** **[Enso Finance](https://millionrounds.com/company/enso-finance)** Seed · CH **$4.2M** With 3 others
- **Jun** **[Redacted Coin](https://millionrounds.com/company/redacted-coin)** Venture **$10M** With 3 others
- **Jun** **[Cookie3](https://millionrounds.com/company/cookie3)** Seed · EE **$3.3M** With 3 others
- **May** **[Supervillain Labs](https://millionrounds.com/company/supervillain-labs)** Seed · KR **$4.5M** With 1 other
- **Apr** **[Splitting Me](https://millionrounds.com/company/splitting-me)** Seed **$500K** With 4 others
- **Apr** **[Puffverse](https://millionrounds.com/company/puffverse)** Seed · HK **$3.0M** With 3 others
- **Apr** **[Uncharted](https://millionrounds.com/company/uncharted)** Seed · US **$1.7M** With 1 other
- **Apr** **[Zecrey](https://millionrounds.com/company/zecrey)** Venture · SG **Undisclosed** With 2 others
- **Mar** **[peaq](https://millionrounds.com/company/peaq)** DE · Firms' own news pages **$15M** With 17 others
- **Mar** **[MetaCene](https://millionrounds.com/company/metacene)** Series A · SG **$10M** With 3 others
- **Mar** **[Pulsr](https://millionrounds.com/company/pulsr)** Venture · US **Undisclosed** With 1 other
- **Mar** **[Karma3 Labs](https://millionrounds.com/company/karma3-labs)** Seed · US **$4.5M** With 5 others
- **Mar** **[Parallel](https://millionrounds.com/company/parallel)** Venture · US **$35M** With 2 others
- **Feb** **[Overworld](https://millionrounds.com/company/overworld)** Seed · US **$10M** With 5 others
- **Jan** **[Forgotten Playland](https://millionrounds.com/company/forgotten-playland)** Seed · GI **$7.0M** With 2 others
- **Jan** **[Catalyst](https://millionrounds.com/company/catalyst)** Venture · US **Undisclosed** With 5 others
- **2023** 15 rounds
- **Nov** **[Wind.app](https://millionrounds.com/company/wind-app)** Pre-seed · SG **$3.8M** With 4 others
- **Nov** **[Sleek](https://millionrounds.com/company/sleek)** Seed · CA **$5.0M** With 3 others
- **Nov** **[Stackr Labs](https://millionrounds.com/company/stackr-labs)** Seed **$5.5M** With 3 others
- **Oct** **[Neon Media](https://millionrounds.com/company/neon-media)** Series A · US **$20M** With 4 others
- **Oct** **[Unlockd](https://millionrounds.com/company/unlockd)** Venture · ES **Undisclosed** With 3 others
- **Sept** **[Brine.fi](https://millionrounds.com/company/brine-fi)** Series A **$17M** With 3 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 **23** 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

Seed Series A Series B

Median round joined **$4.5M** the round, not its cheque Alone, median **$3.8M**

Led 0 of 94 rounds **0%**

- **Sole investor:** 4 rounds
- **Last cheque:** Jul 2026

Rounds by stage said on their site

- Seed said *52*
- Venture *22*
- Series A said *12*
- Pre-seed *2*
- Token sale *2*
- Series B said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Animoca Brands](https://millionrounds.com/fund/animoca-brands) 13
- [Pantera Capital](https://millionrounds.com/fund/pantera-capital) 7
- [Amber Group](https://millionrounds.com/fund/amber-group) 5
- [Coinbase Ventures](https://millionrounds.com/fund/coinbase) 5
- [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) 5
- [GSR](https://millionrounds.com/fund/gsr) 5

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## Who they invest alongside

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

[**Animoca Brands** Accelerator **13** rounds together](https://millionrounds.com/fund/animoca-brands)[**Pantera Capital** VC firm **7** rounds together](https://millionrounds.com/fund/pantera-capital)[**Amber Group** VC firm **5** rounds together](https://millionrounds.com/fund/amber-group)[**Coinbase Ventures** Corporate VC **5** rounds together](https://millionrounds.com/fund/coinbase)[**Dragonfly Capital Partners** VC firm **5** rounds together](https://millionrounds.com/fund/dragonfly-capital-partners)[**GSR** VC firm **5** rounds together](https://millionrounds.com/fund/gsr)[**HashKey Capital** VC firm **5** rounds together](https://millionrounds.com/fund/hashkey-capital-2)[**Hashed** VC firm **5** rounds together](https://millionrounds.com/fund/hashed)[**LongHash Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/longhash-ventures)[**Robot Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/robot-ventures)[**Foresight Ventures** Accelerator **4** rounds together](https://millionrounds.com/fund/foresight-ventures)[**Framework Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/framework-ventures)

## Recently backed

The latest companies The Spartan Group put money into.

[**Saturn** $2.0M · May 2026](https://millionrounds.com/company/saturn)[**Power Protocol** $3.0M · Feb 2026](https://millionrounds.com/company/power-protocol)[**River** $12M · Jan 2026](https://millionrounds.com/company/river)[**GOAT Gaming** $4.0M · Feb 2025](https://millionrounds.com/company/goat-gaming)[**Blum** $5.0M · Feb 2025](https://millionrounds.com/company/blum)[**Zkcandy** $4.0M · Jan 2025](https://millionrounds.com/company/zkcandy)

## Quick answers about The Spartan Group

### What does The Spartan Group invest in?

The Spartan Group invests most often at Seed and Venture (82% of the rounds on record), in sectors such as Web3, Crypto and Defi.

### How active is The Spartan Group?

94 investments on record, 4 of them in the last 12 months. The most recent was in Jul 2026.

### What has The Spartan Group invested in recently?

Its most recent investments on record: THEA-AI (Seed, Jul 2026), Saturn (Seed, May 2026) and Power Protocol (Seed, Feb 2026).

### How big are The Spartan Group's cheques?

The median round it joins is $4.5M.

### Does The Spartan Group lead rounds?

Rarely, if at all: none of its 94 investments on record names it as the lead.

### Where does The Spartan Group invest?

Most of the companies it backs are in the United States (42%), Singapore (21%) and the United Kingdom (6%).

### Is The Spartan Group investing now?

Yes: it is actively investing, with 4 investments in the last 12 months.

### Who does The Spartan Group invest alongside?

Most often Animoca Brands (13 rounds together), Pantera Capital (7 rounds together) and Amber Group (5 rounds together).

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