9 VCs and 71 funds investing in Web3 Infrastructure
Managing Director
HongShan
Check: No current person-specific HSG check size is publicly disclosed. Historical Pantera work spans early-stage through growth, but those prior fund parameters should not be assumed to apply to his HSG role.
Nihal's current HSG mandate is not yet public, so the defensible personal thesis comes from his prior first-person and attributed work: blockchain can extend open finance and coordination into payments, tokenization, consumer applications and open AI; early-stage decisions remain founder-led, with resilience through market cycles, practical utility and strong local-market understanding carrying more weight than hype.
Deal Partner
Lightspeed Faction
Check: Faction does not publish a standard check range or Tim's personal authority. The official mandate is Seed and Series A, across equity and tokens; public financing sizes are not Faction check sizes.
Tim is a crypto-native early-stage investor with an explicit interest at the intersection of crypto and AI. His WeatherXM work shows a demand-first DePIN lens: token incentives can coordinate distributed supply, but a network is only durable when there is an external customer for the data or service produced. That fits Faction's broader mandate to back useful blockchain systems across the stack rather than speculation for its own sake.
Partner
Northzone (Web3)
Check: Not publicly disclosed. Northzone states that the firm invests from Seed through Growth and can remain a partner through pre-IPO; Wendy's current profile labels her personal focus as Early and says she likes to work with founders from as early as seed.
Wendy backs companies that change consumer behavior and expand the economic pie by capturing neglected externalities. She studies technology through people and behavior change, looking for a valuable position in a shifting value chain and a product capable of profound systemic change. Her hypothesis-led process separates factual and emotional evidence, makes assumptions explicit, challenges them through diligence, and still requires a differentiated leap of faith about fund-returning potential.
Partner
Hashed
Check: No personal check range is publicly disclosed. A 2022 Notifi investment note identifies a $2.5M pre-seed round led by Hashed, while the firm's 2021 Venture Fund II was $200M; neither figure should be treated as Baek's standard or current personal ticket.
Baek invests in infrastructure and applications that make decentralized systems useful to ordinary users. His writing connects mass adoption to better user experience, privacy-preserving computation, composable open finance, cross-chain communication and hands-on ecosystem building. He favors teams with deep technical foundations that can turn a missing protocol primitive into a broad platform and reach global scale from strong local communities.
Partner, Head of Operations
1confirmation
Check: Not publicly disclosed. Public databases show 1confirmation joining early-stage crypto rounds, but round size should not be mistaken for the firm's check size.
Frank's public role centers on the operational side of 1confirmation, an early-stage fund supporting founders who decentralize the web and society. His background in regulated finance, asset management, and crypto-fund operations is most relevant to fund structure, risk, execution, and helping a small specialist team operate across venture and digital assets; no separate personal investment thesis is publicly documented.
Partner
1confirmation
Check: Not publicly disclosed. Public databases show 1confirmation joining early-stage crypto rounds, but round size should not be mistaken for the firm's check size.
Mike is a Partner at 1confirmation, whose published mandate is to support exceptional early-stage founders fueling decentralization of the web and society. In the absence of attributable personal commentary, this profile intentionally uses only that firm-level thesis and does not infer a personal sector specialty, portfolio, or decision framework.
Partner, Head of Founder Platform
Electric Capital
Check: Firm-level: Electric Capital says it generally invests $1M-$50M in early-stage crypto companies and protocols. No personal check authority is public for Thuan.
Thuan leads Electric Capital's Founder Platform rather than presenting a separate public investment thesis. Electric describes the platform as integral to its investment strategy after a decision is made: helping crypto founders with engineering, design, hiring, regulatory questions, community governance, incentive mechanisms, and other company-building needs through its internal team and expert network.
Investment Associate
Theta Capital
Ventures and Investments
GSR
New York City
AUM: $175M+
Singapore
Berlin
AUM: $400M
Beijing
AUM: $23B
Singapore
AUM: $27M
Copenhagen
AUM: $25M
New York
Dubai
Prague
AUM: ~$2B
Portland
Hong Kong
Helsinki
New York
London
London
Singapore
Gibraltar
Copenhagen
Grand Cayman
New York
Dubai
Hong Kong
Istanbul
Toronto
Hong Kong
Singapore
London
London
Hong Kong
Sydney
London
Zug
San Francisco
Prague
Palo Alto
Hong Kong