# North Island Ventures' Web3 & Crypto Investments: 10 Startups in Its Portfolio (2026)

> The 10 Web3 & Crypto startups North Island Ventures has backed, by stage: $175M raised between them. From the rounds we track; updated nightly.

Source: https://millionrounds.com/portfolio-maps/north-island-ventures-web3-crypto-portfolio (Millionrounds; every figure on the page links to its filing or article)

## Pre-seed and seed

6

- [T-REX](https://millionrounds.com/company/t-rex)
- [Fractal](https://millionrounds.com/company/fractal)
- [Firewall](https://millionrounds.com/company/firewall)
- [etherfuse](https://millionrounds.com/company/etherfuse)
- [Tholos](https://millionrounds.com/company/tholos)
- [dCustody](https://millionrounds.com/company/dcustody)

## Stage not reported

2

- [Lava Network](https://millionrounds.com/company/lava-network)
- [GEODNET](https://millionrounds.com/company/geodnet)

## Series A

2

- [Variational](https://millionrounds.com/company/variational)
- [Immunefi](https://millionrounds.com/company/immunefi)

## Segment by segment

### Pre-seed and seed

6 startups · $80M raised

- [**T-REX**](https://millionrounds.com/company/t-rex) Trex Company is the world's largest manufacturer of high-performance wood-alternative decking and railing. United States $67M
- [**Fractal**](https://millionrounds.com/company/fractal) Web Development, Software Engineering, App Development United States $4.0M
- [**Firewall**](https://millionrounds.com/company/firewall) Firewall is a blockchain security company based in San Francisco, focused on creating "safe blockspace" for web3 and smart contract networks. United States $3.7M
- [**etherfuse**](https://millionrounds.com/company/etherfuse) Etherfuse is a financial technology and blockchain infrastructure company that connects traditional finance with decentralized fin United States $3.0M
- [**Tholos**](https://millionrounds.com/company/tholos) Tholos, Inc. Canada $1.5M
- [**dCustody**](https://millionrounds.com/company/dcustody) Infrastructure for Trustless Digital Asset Custody - $750K

### Stage not reported

2 startups · $20M raised

- [**Lava Network**](https://millionrounds.com/company/lava-network) Lava is the modular data access network for scaling access to any blockchain. Cayman Islands $12M
- [**GEODNET**](https://millionrounds.com/company/geodnet) GEODNET is the largest decentralized Real-Time Kinematics (RTK) network, providing centimeter-level GPS precision globally. United States $8.0M

### Series A

2 startups · $76M raised

- [**Variational**](https://millionrounds.com/company/variational) Variational is a peer-to-peer trading protocol for perpetuals and generalized derivatives, built on Arbitrum. Cayman Islands $52M
- [**Immunefi**](https://millionrounds.com/company/immunefi) Immunefi is a leading onchain crowdsourced security platform and bug bounty program tailored for Web3, blockchain, and decentraliz Singapore $24M

**How this map is made.** Every startup here works in Web3 & Crypto and has raised money in a round we track that names North Island Ventures as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.

## More portfolio maps

[All portfolios](https://millionrounds.com/portfolio-maps)

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