Active DeFi investors: 32 decentralized finance VCs investing now

DeFi captured $6.7 billion in Q2 2025 alone. A 12% jump from Q1.

In Q2 2025, global DeFi-related VC funding reached $6.7 billion across 412 deals, a 12% increase from Q1 and a stark contrast to the sector's struggles in 2023.

Regulatory clarity changed everything. DOJ clarified smart contract liability. Banks can now custody stablecoins. Institutional money flows in.

MEV innovations dominate pitches. Cross-chain infrastructure scales. AI meets DeFi automation.

This guide maps the DeFi funding landscape. 32 active investors, their thesis, and how to reach them.

Track your DeFi pitch engagement

Protocol live on mainnet. TVL growing. Audit complete.

Still no investor replies.

Trackable links reveal investor behavior. See which VCs understand DeFi. Know when they share with partners.

DeFi investment landscape

What changed in 2025

DOJ policy shift removed developer liability fears. GENIUS Act lets banks hold stablecoins. Ethereum staking rewards attract institutions.

Security became paramount after Bybit hack. $1.2B raised for security infrastructure in Q2 alone.

DeFi vs crypto investing

DeFi investors dive deeper. They audit smart contracts. Analyze tokenomics models. Test protocols personally.

Due diligence takes weeks, not days. Technical teams matter more than advisors.

32 Active DeFi investors

1. Framework Ventures

DeFi specialist actively participating in governance. $1.4B AUM.

DeFi focus: Protocol governance, liquidity provision, DeFi infrastructure
Investment size: $250K-$40M, often largest investor
DeFi portfolio: 130+ DeFi protocols, active in governance
Website: framework.ventures

2. Paradigm

Technical crypto fund by Coinbase/Sequoia veterans.

DeFi focus: Novel DeFi mechanisms, protocol research
Investment size: Seed to $100M+
DeFi portfolio: Uniswap, Maker, Compound, Blur
Website: paradigm.xyz

3. Mechanism Capital

DeFi-native fund focused on experimentation.

DeFi focus: Experimental DeFi, new primitives
Investment size: $100K-$5M
DeFi portfolio: Early DeFi innovators
Website: mechanism.capital

4. ParaFi Capital

$1B+ institutional DeFi fund.

DeFi focus: Proven DeFi protocols, institutional DeFi
Investment size: $1M-$50M
DeFi portfolio: Uniswap, Aave, major lending protocols
Website: parafi.capital

5. Dragonfly Capital

Cross-border fund bridging CeFi and DeFi.

DeFi focus: DeFi/CeFi integration, Asian DeFi
Investment size: $500K-$50M
DeFi portfolio: Cross-chain DeFi, DEX aggregators
Website: dragonfly.xyz

6. Variant Fund

Early-stage DeFi investor by a16z alumni.

DeFi focus: Consumer DeFi, ownership economy
Investment size: $500K-$10M
DeFi portfolio: Mirror Protocol, DeFi consumer apps
Website: variant.fund

7. Jump Crypto

Trading firm's crypto arm building DeFi infrastructure.

DeFi focus: DeFi infrastructure, MEV, bridges
Investment size: Strategic investments
DeFi portfolio: Wormhole, Pyth, DeFi tooling
Website: jumpcrypto.com

8. DeFiance Capital

Asia's leading DeFi fund.

DeFi focus: DeFi protocols, yield strategies
Investment size: $500K-$10M
DeFi portfolio: Asian DeFi leaders
Website: defiance.capital

9. Multicoin Capital

Thesis-driven fund with DeFi conviction.

DeFi focus: Novel DeFi economics, Solana DeFi
Investment size: $500K-$50M
DeFi portfolio: Solana DeFi ecosystem
Website: multicoin.capital

10. CMS Holdings

Quant fund investing in DeFi infrastructure.

DeFi focus: DEXs, MEV, trading infrastructure
Investment size: $500K-$10M
DeFi portfolio: Trading protocols, DEX innovations
Website: cmsholdings.io

11. Polychain Capital

Early crypto fund with strong DeFi portfolio.

DeFi focus: Protocol tokens, DeFi governance
Investment size: $500K-$50M
DeFi portfolio: Major DeFi protocols
Website: polychain.capital

12. DPI Capital

Emerging fund focused on Bitcoin DeFi.

DeFi focus: Bitcoin DeFi exclusively
Investment size: Up to $250K early stage
DeFi portfolio: Arch Network ecosystem
Website: dpicapital.com

13. Three Arrows Capital (successor funds)

Former 3AC partners' new DeFi vehicles.

DeFi focus: DeFi yield strategies
Investment size: Varies by fund
DeFi portfolio: Yield-generating protocols
Website: Various entities

14. Spartan Group

Asian crypto fund heavy in DeFi.

DeFi focus: DeFi protocols, AMMs
Investment size: $500K-$20M
DeFi portfolio: Major DEXs and lending
Website: spartangroup.io

15. The LAO

DAO-based DeFi investor.

DeFi focus: Experimental DeFi, DAO tools
Investment size: $50K-$1M
DeFi portfolio: DAO infrastructure
Website: thelao.io

16. MetaCartel Ventures

Community-driven DeFi fund.

DeFi focus: Consumer DeFi applications
Investment size: $50K-$500K
DeFi portfolio: User-facing DeFi
Website: metacartel.xyz

17. Zee Prime Capital

European DeFi-focused fund.

DeFi focus: DeFi infrastructure, tooling
Investment size: $100K-$5M
DeFi portfolio: European DeFi projects
Website: zeeprime.capital

18. gumi Cryptos Capital

Gaming meets DeFi investor.

DeFi focus: GameFi, DeFi gaming infrastructure
Investment size: Pre-seed to Series A
DeFi portfolio: Gaming DeFi protocols
Website: gumi-cryptos.com

19. LD Capital

Asia-based DeFi and crypto fund.

DeFi focus: DeFi protocols, yield farming
Investment size: $500K-$10M
DeFi portfolio: Asian DeFi ecosystem
Website: ldcap.com

20. Synthetix founder's fund

Kain Warwick's DeFi investment vehicle.

DeFi focus: Derivatives, synthetic assets
Investment size: Angel to seed
DeFi portfolio: DeFi derivatives
Website: Direct contact via Twitter

21. DeFi Alliance

Accelerator and investment alliance.

DeFi focus: Early-stage DeFi mentorship
Investment size: $100K standard program
DeFi portfolio: 50+ DeFi startups
Website: defialliance.co

22. VC VentureX

Web3 VC with DeFi focus.

DeFi focus: MEV innovations, cross-chain DeFi
Investment size: Seed to Series A
DeFi portfolio: ZENMEV, MEV infrastructure
Website: vcventurex.com

23. Maven 11 Capital

European blockchain fund with DeFi thesis.

DeFi focus: DeFi infrastructure, oracles
Investment size: $500K-$10M
DeFi portfolio: Infrastructure plays
Website: maven11.com

24. Greenfield One

Berlin-based DeFi investor.

DeFi focus: European DeFi, infrastructure
Investment size: Seed to Series A
DeFi portfolio: Graph Protocol, DeFi tooling
Website: greenfield.one

25. Blockchain.com Ventures

Exchange's venture arm in DeFi.

DeFi focus: DeFi integrations, institutional DeFi
Investment size: $500K-$20M
DeFi portfolio: Exchange-friendly DeFi
Website: blockchain.com/ventures

26. SevenX Ventures

Asian fund focused on DeFi infrastructure.

DeFi focus: DeFi tooling, developer tools
Investment size: $100K-$5M
DeFi portfolio: Developer-focused DeFi
Website: 7xvc.com

27. Arrington XRP Capital

Michael Arrington's crypto fund.

DeFi focus: Cross-chain DeFi, interoperability
Investment size: $500K-$20M
DeFi portfolio: Bridge protocols
Website: arringtonxrpcapital.com

28. Fabric Ventures

European crypto VC with DeFi allocation.

DeFi focus: DeFi infrastructure, privacy
Investment size: Seed to Series A
DeFi portfolio: Privacy-preserving DeFi
Website: fabric.vc

29. IOSG Ventures

Early-stage crypto fund from Asia.

DeFi focus: DeFi protocols, Layer 2 DeFi
Investment size: $100K-$10M
DeFi portfolio: L2 DeFi ecosystem
Website: iosg.vc

30. DeFi Technologies Ventures

Public company's DeFi investment arm.

DeFi focus: Institutional DeFi exposure
Investment size: Strategic investments
DeFi portfolio: Yield-generating protocols
Website: defi.tech

31. HashKey Capital

Asian institutional DeFi investor.

DeFi focus: Regulated DeFi, institutional products
Investment size: $1M-$20M
DeFi portfolio: Compliant DeFi protocols
Website: hashkey.capital

32. Semantic Ventures

Early DeFi supporter and Aave investor.

DeFi focus: Lending protocols, DeFi primitives
Investment size: Seed to Series A
DeFi portfolio: Aave ecosystem
Website: semantic.ventures

Pitching DeFi investors

Technical requirements

Smart contracts audited. Ideally by multiple firms.

TVL matters more than users. Show capital efficiency.

Tokenomics model must capture value. No governance theater.

Open source helps. Investors read code.

Metrics that matter

Protocol metrics: TVL growth rate, capital efficiency, fee generation
Security metrics: Audit results, bug bounty size, incident history
Governance metrics: Token distribution, voting participation
Market metrics: Competitor analysis, market share trajectory

Red flags for DeFi investors

Anonymous team without reputation. Instant death.

Unaudited contracts asking for millions. Non-starter.

Fork without innovation. Pass.

Ponzi tokenomics. Hard pass.

DeFi success patterns

Winners in 2025

Uniswap v4: Hooks revolutionized AMMs. $5B+ daily volume.

Aave v4: Institutional features drove adoption. $30B+ TVL.

Pendle: Fixed yield innovation. 100x growth.

Common failure modes

Exploited within weeks. Inadequate testing.

Token death spiral. Bad economic design.

Regulatory shutdown. Ignored compliance.

Vampire attacked. No competitive moat.

Tracking DeFi investor interest

DeFi decks need deeper analytics. Investors spend 3x longer on technical slides.

Ellty data from DeFi raises shows:

• Contract architecture: Most viewed slide
• Tokenomics: Most forwarded to partners
• Audit results: Determines meeting decision

Quick reference

Pre-seed DeFi funding: $500K-$1M, prototype live
Seed requirements: Audited contracts, initial TVL
Series A metrics: $10M+ TVL, revenue generation
Growth rounds: $100M+ TVL, institutional adoption

Top DeFi conferences: ETHDenver, DeFi Summit, ETHGlobal
Essential auditors: Trail of Bits, OpenZeppelin, Certik
Legal considerations: Securities analysis mandatory

Ready to track your DeFi pitch engagement? Start with Ellty.