Multicoin Capital

Multicoin Capital operates at the intersection of venture capital, technology, and crypto-economic innovation. Its thesis-driven strategy is rooted in three macro investment ideas: The Open Finance Renaissance, The Web3 Vision, and Global, State-Free Money. These theses guide the firm’s capital allocation into projects that fundamentally reshape value exchange, information ownership, and economic coordination on a global scale.

One of the key differentiators of Multicoin is its commitment to both liquid and illiquid markets. Unlike traditional VC firms, it actively manages portfolios across tokens and equity, leveraging its deep understanding of blockchain protocols and market dynamics. The firm's investments span categories such as Layer 1 blockchains, decentralized finance (DeFi), decentralized physical infrastructure (DePIN), NFTs, and smart contract platforms. Prominent portfolio projects include Solana, The Graph, Helium, Arweave, and Jito.

The firm has also distinguished itself through its prolific writing and open publication of investment theses, asset reports, and ecosystem insights. These resources not only reflect the team’s research depth but also serve as valuable guides for industry participants. Multicoin Capital is a thought leader that continually refines its frameworks based on technological evolutions and economic shifts within the crypto space. Competitors in this field include firms such as Paradigm, a16z Crypto, and Polychain Capital, although few match Multicoin’s balance of deep research, public writing, and active liquid portfolio management.

Multicoin Capital provides numerous benefits and features that distinguish it from other players in the crypto investment landscape:

• Thesis-Driven Investing: Every investment stems from a clearly defined macro thesis, ensuring a high-conviction, long-term strategy rooted in deep technical and economic understanding.
• Dual-Structure Investment Model: Operates both a hedge fund and venture fund to capitalize on opportunities across public and private crypto markets.
• Liquid and Illiquid Support: Supports projects from seed stage through public market growth, offering funding, trading execution, and strategic support across market phases.
• Industry-Defining Portfolio: Backer of transformative projects like Solana, Helium, Jito, Arweave, and many more.
• Public Thought Leadership: Publishes in-depth market analyses, theses, and asset reports that influence crypto-native discourse and guide decision-making for founders and investors.
• Hands-On Team: A multidisciplinary team of engineers, economists, traders, and operators who engage directly with founders and projects for high-touch support.

Getting involved with Multicoin Capital depends on your goals, whether as a founder, partner, or investor:

• Founders & Builders: If you are building a crypto project or protocol, you can submit your proposal or pitch via the Contact page. Providing a clear description and any relevant materials (e.g. deck, metrics) is encouraged.
• Investors: Interested in investing in Multicoin’s funds? Fill out the investor form, and a member of the team will respond promptly to qualified inquiries.
• Careers: Visit the Jobs page to explore open positions across investment, research, trading, and operations.
• Stay Informed: Subscribe to the Multicoin Capital newsletter to receive regular insights, market research, and updates on portfolio companies.
• Follow Writing: Browse their extensive library of essays and reports to better understand the firm’s frameworks, beliefs, and emerging trends.