# DeFi lead investors (2026 list) > 38 deFi lead investors, 82% active in the last 12 months. Led by Andreessen Horowitz, General Catalyst, Founders Fund. Ranked by what they funded. Source: https://millionrounds.com/lists/defi-lead-investors (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # DeFi lead investors Updated 7 November 2026 Firms we have watched lead a round raised by a deFi company in the last two years. Leading is rarer than taking part, and it is the role a founder most needs filled. [See all 38 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefi-lead-investors)The top 25 **38** investors on the list No change this week **1,071** cheques in 12 months *-7%* against the market **$8.9M** median round they joined *+12%* against the market median **82%** wrote a cheque in 12 months **100%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** median round **Nov 2026** last seen - 2 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen - 3 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen - 4 [Foundation Capital](https://millionrounds.com/fund/foundation-capital) *Deploying now* VC firm · United States **550** **$13M** median round **Oct 2026** last seen - 5 [Speedinvest](https://millionrounds.com/fund/speedinvest) *Deploying now* VC firm · Austria **345** **$6.7M** median round **Nov 2026** last seen - 6 [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) *Deploying now* VC firm · United States **205** **$60M** median round **Oct 2026** last seen - 7 [Hack VC](https://millionrounds.com/fund/hack-vc) *Deploying now* VC firm · United States **179** **$9.3M** median round **Sept 2026** last seen - 8 [Paradigm](https://millionrounds.com/fund/paradigm) *Deploying now* VC firm · United States **177** **$14M** median round **Nov 2026** last seen - 9 [Polychain](https://millionrounds.com/fund/polychain) *Deploying now* VC firm · United States **152** **$10M** median round **Oct 2026** last seen - 10 [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) *Deploying now* VC firm · United States **149** **$10M** median round **Sept 2026** last seen - 11 [A16z Crypto](https://millionrounds.com/fund/a16z-crypto) *Deploying now* VC firm · United States **142** **$8M** median round **Jun 2026** last seen - 12 [Robot Ventures](https://millionrounds.com/fund/robot-ventures) *Deploying now* VC firm · United States **135** **$6M** median round **Oct 2026** last seen - 13 [Multicoin Capital](https://millionrounds.com/fund/multicoin-capital) *Deploying now* VC firm · United States **130** **$7.5M** median round **Oct 2026** last seen - 14 [Framework Ventures](https://millionrounds.com/fund/framework-ventures) *Deploying now* VC firm · United States **129** **$8.4M** median round **Oct 2026** last seen - 15 [6th Man Ventures](https://millionrounds.com/fund/6mv) *Deploying now* VC firm · United States **99** **$5.7M** median round **Nov 2026** last seen - 16 [ParaFi Capital](https://millionrounds.com/fund/parafi) *Deploying now* VC firm · United States **87** **$8M** median round **Oct 2026** last seen - 17 [CoinFund](https://millionrounds.com/fund/coinfund) *Deploying now* VC firm · United States **85** **$5.8M** median round **Oct 2026** last seen - 18 [Castle Island Ventures](https://millionrounds.com/fund/castle-island-ventures) *Deploying now* VC firm · United States **78** **$7M** median round **Oct 2026** last seen - 19 [UOB Venture](https://millionrounds.com/fund/uob-venture) *Deploying now* VC firm · Singapore **77** **$8M** median round **Aug 2026** last seen - 20 [Coral Capital](https://millionrounds.com/fund/coral-capital) *Deploying now* VC firm · Japan **66** **$6M** median round **Oct 2026** last seen - 21 [Greenfield](https://millionrounds.com/fund/greenfield) *Deploying now* VC firm · United States **62** **$8M** median round **Oct 2026** last seen - 22 [SBI Group](https://millionrounds.com/fund/sbi-group) *Deploying now* Growth equity **57** **$14M** median round **Nov 2026** last seen - 23 [Jump Crypto](https://millionrounds.com/fund/jump-crypto) *Deploying now* Corporate VC · United States **37** **$10M** median round **Jul 2026** last seen - 24 [DRW Venture Capital](https://millionrounds.com/fund/drw-venture-capital) *Deploying now* VC firm · United States **18** **$31M** median round **Sept 2026** last seen - 25 [Galaxy Ventures](https://millionrounds.com/fund/galaxy-ventures) *Deploying now* VC firm · Thailand **12** **$32M** median round **May 2026** last seen **13 more on this list** All 38 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefi-lead-investors) ## The Newest Cheques Rounds this list's investors joined most recently - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [SBI Group](https://millionrounds.com/fund/sbi-group) - **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *Led by* [Paradigm](https://millionrounds.com/fund/paradigm) - **5** Nov **[Pliant](https://millionrounds.com/company/pliant)** Series C · $80M *Led by* [Speedinvest](https://millionrounds.com/fund/speedinvest) - **4** Nov **[Nooks](https://millionrounds.com/company/nooks)** Growth · $500M *Led by* [General Catalyst](https://millionrounds.com/fund/general-catalyst) - **4** Nov **[Phaze Inc.](https://millionrounds.com/company/phaze-inc)** Seed · $8.8M *Led by* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) - **3** Nov **[Vereda](https://millionrounds.com/company/vereda)** Seed · $5.5M *With* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) ## Stages This Year 923 rounds - Series A **19%** - Seed **18%** - Venture **14%** - Series B **11%** - Series C **8%** - Other **30%** ## What They Backed Sectors, last 12 months - AI **407** - Fintech **114** - Web3 & Crypto **96** - Big Data & Analytics **61** - Healthcare **53** - Financial Services **48** ## Cheques by Quarter Led Joined 272 Q1 25 301 Q2 25 314 Q3 25 376 Q4 25 320 Q1 26 304 Q2 26 230 Q3 26 92 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI lead investors 1,723](https://millionrounds.com/lists/ai-lead-investors) - [Lead investors in United States 1,370](https://millionrounds.com/lists/lead-investors-in-united-states) - [Seed lead investors 1,091](https://millionrounds.com/lists/seed-lead-investors) - [Series A lead investors 920](https://millionrounds.com/lists/series-a-lead-investors) - [Fintech lead investors 763](https://millionrounds.com/lists/fintech-lead-investors) - [Series B lead investors 579](https://millionrounds.com/lists/series-b-lead-investors) - [Growth lead investors 555](https://millionrounds.com/lists/growth-lead-investors) - [Robotics lead investors 397](https://millionrounds.com/lists/robotics-lead-investors) - [Pre-seed lead investors 396](https://millionrounds.com/lists/pre-seed-lead-investors) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about deFi lead investors ### Who are the most active deFi lead investors? By cheques observed, the most active are Andreessen Horowitz, General Catalyst, Founders Fund, Foundation Capital and Speedinvest. ### How many deFi lead investors are there? 38 are on record. 82% made an investment in the last 12 months and 100% have led a round. ### Which stages do deFi lead investors back? Of the rounds with a named stage in the last 12 months, mostly Series A (26%) and Seed (24%). ### How big are the rounds deFi lead investors join? The typical (median) round among the leading investors here is $9.3M. ### Which sectors do deFi lead investors back most? In the last 12 months, mostly AI, Fintech and Web3 & Crypto. ### Which deFi lead investors lead the most rounds? Andreessen Horowitz (114 led), General Catalyst (97 led) and Founders Fund (42 led). ### Where are deFi lead investors based? Most of the leading investors here are based in the United States (20 of the top 25); the rest in Austria and Singapore. ### What have deFi lead investors invested in recently? Recent rounds include Soter Insure (Series B, Nov 2026, with SBI Group), Zipline (Growth, Nov 2026, with Paradigm) and Pliant (Series C, Nov 2026, with Speedinvest). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)