# Wintermute Ventures: portfolio, investments and team

> Wintermute Ventures is a vc firm based in United Kingdom. 47 investments on record, 9 in the last 12 months, latest Sept 2026.

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

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

# Wintermute Ventures

Last cheque observed Sep 2026; 47 cheques on record.

Email

Deploying now VC firm Website unconfirmed

Pre-seed Seed Series A Blockchain Cryptocurrency

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Deploying now

**90%** of best year **9** **cheques in 12 months**, 47 on record

Since the last cheque **32** days **00** hrs **00** min **00** sec

Median round **$12M** Rounds led **0 of 47** Sole investor **2 rounds** Mostly in **United States, 45%**

Pitch Wintermute Ventures

## Wintermute Ventures highlights

- 01 9 cheques in the last 12 months
- 02 Mostly Seed and Series A: 64% of its rounds
- 03 Sole investor in 2 rounds, median $20M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A
- **Sectors:** Blockchain Cryptocurrency
- **Based in:** London, United Kingdom
- **Cold pitches:** Not stated

A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. [Tell us the right one](https://millionrounds.com/corrections?slug=wintermute-ventures).

## The record

Every round we can evidence, newest first **47 appearances**

- **2026** 8 rounds
- **Sept** **[Jeeves](https://millionrounds.com/company/jeeves)** Series C · LatamList **$110M** With 13 others
- **Sept** **[Raven](https://millionrounds.com/company/raven)** Venture · BG **$2.7M** With 2 others
- **Aug** **[Velocity](https://millionrounds.com/company/velocity)** Series A · GB · Ventureburn **$38M** With 8 others
- **Jul** **[Pascal](https://millionrounds.com/company/pascal)** Series A · US · AlleyWatch **$9.0M** With 1 other
- **Jun** **[Morpho](https://millionrounds.com/company/morpho)** Seed · FR · Ventureburn **$175M** With 18 others
- **Mar** **[UnblockPay](https://millionrounds.com/company/unblockpay)** Seed · BR · LatamList **$4.5M** With 4 others
- **Mar** **[Crossover Markets](https://millionrounds.com/company/crossover-markets)** Series B · GB · Ventureburn **$31M** With 8 others
- **Feb** **[Based](https://millionrounds.com/company/based)** Series A · Ventureburn **$12M** With 3 others
- **2025** 6 rounds
- **Dec** **[Ostium](https://millionrounds.com/company/ostium)** Series A · Ventureburn **$20M** With 6 others
- **Oct** **[Pave Bank](https://millionrounds.com/company/pave-bank)** Series A · GE · TechStartups **$39M** With 5 others
- **Sept** **[Inversion Capital](https://millionrounds.com/company/inversion-capital)** Seed · US · Ventureburn **$27M** With 6 others
- **Jun** **[Turnkey](https://millionrounds.com/company/turnkey)** Series B · US · AlleyWatch **$30M** With 8 others
- **Feb** **[Blum](https://millionrounds.com/company/blum)** Seed **$5.0M** With 2 others
- **Jan** **[Analog](https://millionrounds.com/company/analog)** TechStartups **$5.0M** With 9 others
- **2024** 9 rounds
- **Dec** **[Avara](https://millionrounds.com/company/avara)** TechCrunch **$31M** With 19 others
- **Dec** **[Ithaca Finance](https://millionrounds.com/company/ithaca-finance)** Seed · HK **$20M** Sole investor
- **Sept** **[One Trading](https://millionrounds.com/company/one-trading)** Venture · IT **Undisclosed** With 3 others
- **Aug** **[Stork Network](https://millionrounds.com/company/stork-network)** Seed · US **$4.0M** With 1 other
- **Jul** **[Clearpool](https://millionrounds.com/company/clearpool)** Venture · SG **Undisclosed** With 3 others
- **Jun** **[Route](https://millionrounds.com/company/route)** Series C · US **$40M** With 6 others
- **May** **[Raven](https://millionrounds.com/company/raven)** Seed · BG **$2.7M** With 1 other
- **May** **[Zeta Markets](https://millionrounds.com/company/zeta-markets)** Token sale · GB **$5.0M** With 4 others
- **Feb** **[Backpack](https://millionrounds.com/company/backpack)** Series A · US **$17M** With 3 others
- **2023** 5 rounds
- **Jun** **[Vertex Protocol](https://millionrounds.com/company/vertex-protocol)** Venture · US **Undisclosed** With 3 others
- **Apr** **[Arkham Intelligence](https://millionrounds.com/company/arkham-intelligence)** Series A · US **$12M** With 3 others
- **Apr** **[DFlow](https://millionrounds.com/company/dflow)** Seed · NI **$5.5M** With 4 others
- **Mar** **[Econia Labs](https://millionrounds.com/company/econia-labs)** Seed · US **$6.5M** With 2 others
- **Feb** **[Mangrove DAO](https://millionrounds.com/company/mangrove-dao)** Series A · FR **$7.4M** With 2 others
- **2022** 12 rounds
- **Nov** **[Optimism](https://millionrounds.com/company/optimism)** Venture · US **Undisclosed** With 4 others
- **Oct** **[Zerion](https://millionrounds.com/company/zerion)** Series B · US **$12M** With 3 others
- **Sept** **[Humanode](https://millionrounds.com/company/humanode)** Venture **Undisclosed** With 1 other
- **Sept** **[Beyond Protocol](https://millionrounds.com/company/beyond-protocol)** Venture · US **$13M** With 4 others
- **Jun** **[Size](https://millionrounds.com/company/size)** Seed · US **$6.0M** With 1 other
- **Jun** **[Astaria](https://millionrounds.com/company/astaria)** Seed · US **$8.0M** With 3 others
- **Apr** **[MYSO Finance](https://millionrounds.com/company/myso-finance)** Seed · CH **$2.4M** With 2 others
- **Mar** **[Struct Finance](https://millionrounds.com/company/struct-finance)** Seed · SG **$3.9M** With 3 others
- **Feb** **[Ethernity](https://millionrounds.com/company/ethernity)** Seed · KY **$20M** With 2 others
- **Jan** **[PsyOptions](https://millionrounds.com/company/psyoptions)** Seed · KY **$3.1M** With 4 others
- **Jan** **[Serum](https://millionrounds.com/company/serum)** Token sale · US **$100M** With 2 others
- **Jan** **[HAL](https://millionrounds.com/company/hal)** Seed · GB **$3.0M** 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 **1** person 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 **$12M** the round, not its cheque Alone, median **$20M**

Led 0 of 47 rounds **0%**

- **Sole investor:** 2 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *20*
- Series A said *9*
- Venture *8*
- Series B *3*
- Series C *3*
- Token sale *2*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Coinbase Ventures](https://millionrounds.com/fund/coinbase) 8
- [GSR](https://millionrounds.com/fund/gsr) 7
- [CoinFund](https://millionrounds.com/fund/coinfund) 4
- [Alameda Research](https://millionrounds.com/fund/alameda-research) 3
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 3
- [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) 3

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## Who they invest alongside

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

[**Coinbase Ventures** Corporate VC **8** rounds together](https://millionrounds.com/fund/coinbase)[**GSR** VC firm **7** rounds together](https://millionrounds.com/fund/gsr)[**CoinFund** VC firm **4** rounds together](https://millionrounds.com/fund/coinfund)[**Alameda Research** Private equity **3** rounds together](https://millionrounds.com/fund/alameda-research)[**Andreessen Horowitz** VC firm **3** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Dragonfly Capital Partners** VC firm **3** rounds together](https://millionrounds.com/fund/dragonfly-capital-partners)[**Faction** VC firm **3** rounds together](https://millionrounds.com/fund/faction)[**Hack VC** VC firm **3** rounds together](https://millionrounds.com/fund/hack-vc)[**HashKey Capital** VC firm **3** rounds together](https://millionrounds.com/fund/hashkey-capital-2)[**Tribe Capital** VC firm **3** rounds together](https://millionrounds.com/fund/tribe-capital)[**Arrington XRP Capital** VC firm **2** rounds together](https://millionrounds.com/fund/arrington-xrp-capital)[**CMT Digital** VC firm **2** rounds together](https://millionrounds.com/fund/cmt-digital)

## Recently backed

The latest companies Wintermute Ventures put money into.

[**Jeeves** $110M · Sept 2026](https://millionrounds.com/company/jeeves)[**Velocity** $38M · Aug 2026](https://millionrounds.com/company/velocity)[**Morpho** $175M · Jun 2026](https://millionrounds.com/company/morpho)[**UnblockPay** $4.5M · Mar 2026](https://millionrounds.com/company/unblockpay)[**Crossover Markets** $31M · Mar 2026](https://millionrounds.com/company/crossover-markets)[**Ostium** $20M · Dec 2025](https://millionrounds.com/company/ostium)

## Quick answers about Wintermute Ventures

### What does Wintermute Ventures invest in?

Wintermute Ventures invests most often at Seed and Series A (64% of the rounds on record), in sectors such as Blockchain and Cryptocurrency.

### How active is Wintermute Ventures?

47 investments on record, 9 of them in the last 12 months. The most recent was in Sept 2026.

### What has Wintermute Ventures invested in recently?

Its most recent investments on record: Jeeves (Series C, Sept 2026), Raven (Venture, Sept 2026) and Velocity (Series A, Aug 2026).

### How big are Wintermute Ventures's cheques?

The median round it joins is $12M.

### Does Wintermute Ventures lead rounds?

Rarely, if at all: none of its 47 investments on record names it as the lead.

### Where does Wintermute Ventures invest?

Most of the companies it backs are in the United States (45%), the United Kingdom (12%) and Bulgaria (6%).

### Is Wintermute Ventures investing now?

Yes: it is actively investing, with 9 investments in the last 12 months.

### Who does Wintermute Ventures invest alongside?

Most often Coinbase Ventures (8 rounds together), GSR (7 rounds together) and CoinFund (4 rounds together).

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