All funds
Merit Circle logo

Merit Circle

$90Tdisclosed portfolio round capital
1 Jul, 2025last investment
55portfolio companies
0team members

Analyst signals

Portfolio activity and matriculation

Metrics use all recorded activity through 22 Jul 2026 across pre seed, private, seed, series a, strategic, unknown. Later-round outcomes are capped at the period end.

41.8%companies with a later round · 23/55
0.77×median round-size step-up · n=19
0.67×median valuation step-up · n=2
4.9%recorded-solo rate · 3 solo / 58 syndicated
Gaming · 32 companiesFinance · 3 companiesNFTs · 2 companies

These are activity signals, not fund-return metrics. Round capital is the full disclosed financing amount, not this fund's check size. “Recorded solo” means only one investor is present in the source data and is a lead signal, not verified lead status; syndicated rounds are a co-investor or follower signal. IRR, TVPI, DPI, ownership, exits, and market beta cannot be calculated from the available records.

Opportunities

Crypto jobs across Merit Circle's portfolio

8 current roles at companies backed by Merit Circle, sourced from JobStash's crypto job board.

People

Team

No team details are available yet.

Portfolio

Investments

Full financing histories for portfolio companies. Highlighted rounds are those where Merit Circle is recorded as an investor.

Aethir logo

Aethir

crypto
Infrastructure

Aethir provides decentralized cloud infrastructure for AI and gaming through distributed GPU networks, enabling low-latency access to enterprise-grade computing.

Public Sale1 May, 2024$123M round
pre-Series A26 Jul, 2023Syndicated · 7 disclosed investors
Series A1 Jul, 2023$9M round$150M valuationSyndicated · 11 disclosed investors
Seed1 Jan, 2022

Stealth

Unknown1 Jan, 2024$4.8M round
Seed1 Oct, 2022$3.2M roundSyndicated · 17 disclosed investors

Stealth

Unknown1 Jul, 2025$5M round
Seed1 May, 2024Syndicated · 17 disclosed investors
AVALON logo

AVALON

hybrid
Gaming

AVALON is an AI- and player-powered shared-universe game where players can explore official and player-created worlds, build experiences, and retain their character progress and creations across the universe. It targets players, creators, modders, streamers, and world-builders.

Unknown1 Apr, 2024$10M round
Unknown1 Feb, 2023$13M roundSyndicated · 9 disclosed investors
Gaming

Axes metaverse is a cascade of games that grew out of the blockchain version of Axes.io, which turned into one of our key worlds - Axes Battleground. In all games of the meta universe you can use the same NFTs and make in-game purchases for AXES Shards exactly as well as earning them for activities.

Seed1 Apr, 2022$600K roundSyndicated · 4 disclosed investors
Azuro logo

Azuro

crypto
Gaming

Azuro is a decentralized, onchain prediction-markets protocol. It provides modular smart-contract infrastructure, liquidity, oracle feeds, SDKs, APIs, and tooling for developers and blockchains building prediction and betting applications.

Private11 Apr, 2024$3.5T round
Unknown1 Apr, 2024$3.5M round
Strategic28 Jun, 2022$4T roundSyndicated · 17 disclosed investors
Seed20 Jan, 2022$3.5T roundSyndicated · 15 disclosed investors
Pre-Seed1 Sep, 2021

Blast Royale is a next-generation Battle Royale game developed by First Light Games.

Public Sale1 Nov, 2024$699K round$10 valuation
Seed1 Apr, 2022$5M round$33M valuationSyndicated · 17 disclosed investors
BloodLoop logo

BloodLoop

out of scope
Gaming

BloodLoop is a tactical 5v5 game centered on controlling Exotic Matter nodes. Players can create and customize avatars, collect resources, and craft exclusive cosmetics.

Seed28 Mar, 2024$4T roundSyndicated · 22 disclosed investors
Cantina Royale logo

Cantina Royale

out of scope
Gaming

Cantina Royale was a blockchain game. Its website states that the game is no longer active and directs users to a self-service portal to reclaim NFTs and game assets.

M&A1 Mar, 2025
Public Sale1 Jul, 2022$1.5M round$40M valuation
Seed1 May, 2022$4.5M round$30M valuationSyndicated · 13 disclosed investors
CLUB Game logo

CLUB Game

out of scope
Gaming

CLUB Game is a free-to-play mobile football ownership and fantasy football game. Players build squads with real footballers, use real-world performances, and compete with other club owners worldwide.

Seed1 Jul, 2022$3.1M roundSyndicated · 6 disclosed investors
CRG AB logo

CRG AB

out of scope
Gaming

CRG AB operates the Crystalfall game website. Crystalfall is an upcoming free-to-play steampunk action RPG for PC.

Seed1 Mar, 2024$1.5M roundSyndicated · 7 disclosed investors
Gaming

Cryptobots is a play-to-earn NFT game with a brand new economic model. Players can assemble Bots and Spaceships to fight in PvP arenas, produce, sell, and rent out in-game NFTs, unite in Alliances, and develop their economic strategy on NFT Lands to earn tokens.

Unknown1 Apr, 2022$300K roundRecorded solo · lead signal

Stealth

Seed1 Mar, 2022$6M round$120M valuationSyndicated · 6 disclosed investors
CyBall logo

CyBall

crypto

Stealth

Seed1 Dec, 2021$1.8M roundSyndicated · 12 disclosed investors
Gaming

Delabs Games is a Web3 gaming company building an ecosystem of mid-core games using proven IPs. The ecosystem is powered by its native $DELABS token and offers NFTs like the "Delabs Adventure Pass" to enhance the player experience with benefits like early game access and staking rewards.

Series A1 Jul, 2025$5.2M roundSyndicated · 10 disclosed investors
Strategic 1 Nov, 2024
Seed25 Jul, 2023$4.7T roundSyndicated · 5 disclosed investors
Gaming

Elfin Metaverse is an all-in-one eSports gaming platform and open-world metaverse built on Elfin Lands, a virtual realm that offers a unique gaming experience and a thriving community. Players can engage in daily battles, participate in seasonal tournaments, and join social events within the metaverse. Elfin Lands owners enjoy exclusive NFTs, economic rewards, and the ability to customize their lands and surroundings. The platform also fosters collaboration with bluechip Web3 communities, gaming guilds, and DAOs, providing opportunities for engagement and growth.

Unknown1 Jun, 2024
Public Sale1 Aug, 2023$4.3M round$80M valuation
Strategic1 Dec, 2021$5.3M roundSyndicated · 4 disclosed investors
Etherfuse logo

Etherfuse

crypto
Finance

Etherfuse helps users invest in tokenized government bonds from multiple countries through Stablebonds on Solana, Stellar, and Base blockchains.

Seed20 Jul, 2024$3T round$13M valuationSyndicated · 37 disclosed investors
Farcana logo

Farcana

crypto
Gaming

Farcana is a Web3-enabled team-based hero shooter game with PvP battles, esports features, NFT assets, a Bitcoin prize system, and a player-driven in-game economy. It also operates the FAR token ecosystem, including token assets, vesting, staking, and airdrop features.

Unknown1 Jan, 2024
Seed14 Dec, 2023$10T round$40M valuationSyndicated · 17 disclosed investors
Strategic27 Nov, 2023$10T round
Footium logo

Footium

out of scope
Gaming

Footium is an online multiplayer football management game where players own or manage digital football clubs, compete in daily matches, develop squads, and earn real-money rewards.

Seed1 Apr, 2022$3.5M round
Seed1 Mar, 2022$3.4M roundSyndicated · 17 disclosed investors
Fyde logo

Fyde

crypto
Service Provider

Fyde provides simulation, risk modeling, and economic-analysis services for blockchain protocol teams. It helps clients design incentives, stress-test protocols, and analyze on-chain dynamics.

Seed1 Dec, 2023$3.2M roundSyndicated · 4 disclosed investors
Unknown1 Sep, 2022
Gaming

Gameplay Galaxy is a multi-game studio behind the Trial Xtreme series and Duels. It builds competitive games with Web3 features, including digital ownership, token-powered economies, player ownership loops, and shared economies across titles.

Seed1 Aug, 2024$11M round$71M valuationSyndicated · 2 disclosed investors
Seed1 Sep, 2022$13M roundSyndicated · 7 disclosed investors
GAMES.GG logo

GAMES.GG

out of scope
Gaming

GAMES.GG is a cross-platform gaming discovery platform covering PC, console, mobile, VR, and Web3 games. It provides game discovery, reviews, guides, news, redeem codes, quests, AI-powered recommendations, and unified gaming profiles.

Strategic1 Mar, 2024$2M roundSyndicated · 13 disclosed investors
Seed1 Sep, 2023$2M round