# ZBS CAPITAL: portfolio, investments and team

> ZBS CAPITAL is a vc firm based in Ukraine. 66 investments on record, 1 in the last 12 months, latest Nov 2025. Portfolio, stages, co-investors and team.

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

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

# ZBS CAPITAL

Last cheque observed Nov 2025; 66 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A Decentralized Non-fungible Web 3

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Deploying now

**17%** of best year **1** **cheques in 12 months**, 66 on record

Since the last cheque **364** days **00** hrs **00** min **00** sec

Median round **$2.0M** Rounds led **0 of 66** Sole investor **19 rounds** Mostly in **United States, 18%**

Pitch ZBS CAPITAL

## ZBS CAPITAL highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Seed and Venture: 89% of its rounds
- 03 Sole investor in 19 rounds, median $1.5M

## What they do

> ZBS Capital VC Fund which funds, support and advise web 3 companies From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Decentralized Non-fungible Web 3
- **Based in:** Kyiv, Ukraine
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **66 appearances**

- **2025** 2 rounds
- **Nov** **[Lympid](https://millionrounds.com/company/lympid)** Venture · LT **Undisclosed** Sole investor
- **Apr** **[Ultra](https://millionrounds.com/company/ultra)** EE · Silicon Canals **$12M** With 1 other
- **2024** 5 rounds
- **Aug** **[KIP Protocol](https://millionrounds.com/company/kip-protocol)** Venture · HK **$5.0M** With 3 others
- **Jun** **[Zyfi](https://millionrounds.com/company/zyfi)** Seed **$2.0M** Sole investor
- **May** **[NuLink](https://millionrounds.com/company/nulink)** Series B · SE **$1.6M** With 2 others
- **Apr** **[BonusBlock](https://millionrounds.com/company/bonusblock)** Seed **$2.3M** With 3 others
- **Mar** **[Hedgehog Protocol](https://millionrounds.com/company/hedgehog-protocol)** Pre-seed **$1.5M** Sole investor
- **2023** 2 rounds
- **Dec** **[QORPO](https://millionrounds.com/company/qorpo)** Venture **$5.6M** With 1 other
- **Jan** **[Panther Protocol](https://millionrounds.com/company/panther-protocol)** Venture · GI **Undisclosed** With 2 others
- **2022** 9 rounds
- **Nov** **[X World Games](https://millionrounds.com/company/x-world-games)** Venture · SG **Undisclosed** With 3 others
- **May** **[MeMusic](https://millionrounds.com/company/memusic)** Seed **$1.1M** With 2 others
- **May** **[The Unfettered](https://millionrounds.com/company/the-unfettered)** Seed · US **$2.5M** With 1 other
- **Mar** **[Deliq Finance](https://millionrounds.com/company/deliq-finance)** Seed **$2.1M** With 2 others
- **Mar** **[Itheum](https://millionrounds.com/company/itheum)** Seed · AU **$4.0M** With 2 others
- **Feb** **[Automata Network](https://millionrounds.com/company/automata-network)** Venture · SG **Undisclosed** With 3 others
- **Jan** **[Chain of Alliance](https://millionrounds.com/company/chain-of-alliance)** Seed · SE **$2.4M** With 2 others
- **Jan** **[Fantom Maker](https://millionrounds.com/company/fantom-maker)** Seed · BE **$1.8M** With 1 other
- **Jan** **[Space Falcon](https://millionrounds.com/company/space-falcon)** Seed **$4.0M** With 3 others
- **2021** 46 rounds
- **Dec** **[RaceFi](https://millionrounds.com/company/racefi)** Seed **$2.9M** With 1 other
- **Dec** **[Forward Protocol](https://millionrounds.com/company/forward-protocol)** Seed · PA **$1.3M** With 2 others
- **Dec** **[MADworld](https://millionrounds.com/company/madworld)** Series A · HK **$6.0M** With 2 others
- **Dec** **[Zombie Worldz](https://millionrounds.com/company/zombie-worldz)** Seed **$2.0M** Sole investor
- **Dec** **[Creaton](https://millionrounds.com/company/creaton)** Seed · US **$175K** Sole investor
- **Dec** **[GoFungibles](https://millionrounds.com/company/gofungibles)** Seed **$4.0M** Sole investor
- **Dec** **[Rise Of Defenders](https://millionrounds.com/company/rise-of-defenders)** Seed · PA **$735K** Sole investor
- **Dec** **[PlatoFarm](https://millionrounds.com/company/platofarm)** Seed · US **$1.8M** Sole investor
- **Dec** **[CryptoVsZombie](https://millionrounds.com/company/cryptovszombie)** Seed · US **$1.7M** Sole investor
- **Dec** **[Acknoledger](https://millionrounds.com/company/acknoledger)** Seed **$1.5M** Sole investor
- **Nov** **[OneRare](https://millionrounds.com/company/onerare)** Seed **$2.0M** Sole investor
- **Nov** **[ASPO World](https://millionrounds.com/company/aspo-world)** Venture **$2.0M** With 1 other
- **Nov** **[9D NFT](https://millionrounds.com/company/9d-nft)** Token sale **$2.9M** With 1 other
- **Nov** **[KingSpeed](https://millionrounds.com/company/kingspeed)** Seed **$1.2M** Sole investor
- **Nov** **[Credefi](https://millionrounds.com/company/credefi)** Seed · BG **$1.8M** With 1 other
- **Nov** **[Victoria VR](https://millionrounds.com/company/victoria-vr)** Seed · CZ **$5.5M** With 2 others
- **Nov** **[Harmony launcher](https://millionrounds.com/company/harmony-launcher)** Seed **$1.7M** With 1 other
- **Nov** **[DAOLaunch](https://millionrounds.com/company/daolaunch)** Seed · JP **$1.6M** Sole investor
- **Oct** **[Oriole Insights](https://millionrounds.com/company/oriole-insights)** Pre-seed · UA **$1.0M** Sole investor
- **Oct** **[The Three Kingdoms](https://millionrounds.com/company/the-three-kingdoms)** Series A · HK **$3.2M** With 1 other
- **Sept** **[Strip Finance](https://millionrounds.com/company/strip-finance)** Seed **$471K** Sole investor
- **Sept** **[Cyclos](https://millionrounds.com/company/cyclos)** Seed **$2.1M** With 1 other

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.

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 3 we have independently watched raise

Chainbroker Cryptodiffer Cryptorank

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## The cheque

Pre-seed Seed Series A

Median round joined **$2.0M** the round, not its cheque Alone, median **$1.5M**

Led 0 of 66 rounds **0%**

- **Sole investor:** 19 rounds
- **Last cheque:** Nov 2025

Rounds by stage said on their site

- Seed said *47*
- Venture *10*
- Series A said *3*
- Pre-seed said *2*
- Token sale *2*
- Series B said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [NGC Ventures](https://millionrounds.com/fund/ngc-ventures) 14
- [MV Global](https://millionrounds.com/fund/mv-global) 9
- [LD Capital](https://millionrounds.com/fund/xie) 7
- [Animoca Brands](https://millionrounds.com/fund/animoca-brands) 5
- [DAO Maker](https://millionrounds.com/fund/dao-maker) 3
- [DWF Labs](https://millionrounds.com/fund/dwf-labs) 3

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## Who they invest alongside

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

[**NGC Ventures** VC firm **14** rounds together](https://millionrounds.com/fund/ngc-ventures)[**MV Global** Venture studio **9** rounds together](https://millionrounds.com/fund/mv-global)[**LD Capital** VC firm **7** rounds together](https://millionrounds.com/fund/xie)[**Animoca Brands** Accelerator **5** rounds together](https://millionrounds.com/fund/animoca-brands)[**DAO Maker** VC firm **3** rounds together](https://millionrounds.com/fund/dao-maker)[**DWF Labs** VC firm **3** rounds together](https://millionrounds.com/fund/dwf-labs)[**Hashed** VC firm **3** rounds together](https://millionrounds.com/fund/hashed)[**OKX Ventures** Corporate VC **3** rounds together](https://millionrounds.com/fund/okx-ventures)[**Outlier Ventures** Accelerator **3** rounds together](https://millionrounds.com/fund/outlier-ventures)[**Tribe Capital** VC firm **3** rounds together](https://millionrounds.com/fund/tribe-capital)[**Alameda Research** Private equity **2** rounds together](https://millionrounds.com/fund/alameda-research)[**MEXC Global** VC firm **2** rounds together](https://millionrounds.com/fund/mexc-global)

## Recently backed

The latest companies ZBS CAPITAL put money into.

[**Lympid** Nov 2025](https://millionrounds.com/company/lympid)[**KIP Protocol** $5.0M · Aug 2024](https://millionrounds.com/company/kip-protocol)[**Panther Protocol** Jan 2023](https://millionrounds.com/company/panther-protocol)[**X World Games** Nov 2022](https://millionrounds.com/company/x-world-games)[**MeMusic** $1.1M · May 2022](https://millionrounds.com/company/memusic)[**The Unfettered** $2.5M · May 2022](https://millionrounds.com/company/the-unfettered)

## Quick answers about ZBS CAPITAL

### What does ZBS CAPITAL invest in?

ZBS CAPITAL invests most often at Seed and Venture (89% of the rounds on record), in sectors such as Decentralized, Non-fungible and Web 3.

### How active is ZBS CAPITAL?

66 investments on record, 1 of them in the last 12 months. The most recent was in Nov 2025.

### What has ZBS CAPITAL invested in recently?

Its most recent investments on record: Lympid (Venture, Nov 2025), Ultra (Undisclosed round, Apr 2025) and KIP Protocol (Venture, Aug 2024).

### How big are ZBS CAPITAL's cheques?

The median round it joins is $2.0M.

### Does ZBS CAPITAL lead rounds?

Rarely, if at all: none of its 66 investments on record names it as the lead.

### Where does ZBS CAPITAL invest?

Most of the companies it backs are in the United States (18%), Hong Kong SAR China (14%) and Sweden (9%).

### Is ZBS CAPITAL investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does ZBS CAPITAL invest alongside?

Most often NGC Ventures (14 rounds together), MV Global (9 rounds together) and LD Capital (7 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=zbs-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=zbs-capital)