All funds
Protagonist logo

Protagonist

$137Tdisclosed portfolio round capital
11 Feb, 2026last investment
24portfolio companies
7team members

Analyst signals

Portfolio activity and matriculation

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

29.2%companies with a later round · 7/24
7.50×median round-size step-up · n=5
Not availablemedian valuation step-up · n=0
0%recorded-solo rate · 0 solo / 25 syndicated
Finance · 6 companiesInfrastructure · 3 companiesPayments · 3 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 Protagonist's portfolio

7 current roles at companies backed by Protagonist, sourced from JobStash's crypto job board.

People

Team

G

George Bousis

Co-Founder & Managing Partner

G

George Ruan

Co-Founder & Managing Partner

H

Harry Hurst

Co-Founder & Managing Partner

J

James Norris

Partner, CFO & Chief Compliance Officer

M

Michael Gargiulo

Analyst

N

Nick Malone

Principal

S

Sevan Avakian

Partner, General Counsel and Chief Operating Officer

Portfolio

Investments

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

Finance

1Money Network builds the first Layer 1 blockchain exclusively for stablecoin payments with instant confirmations and fixed fees.

Seed16 Jan, 2025$20T roundSyndicated · 29 disclosed investors

Aligned is a vertically integrated stack for building applications on a verifiable internet. It provides the foundation for provable execution with one-click solutions for wallets, rollups, interoperability, and ZK services for financial infrastructure and AI systems. The company is creating the foundation for a trustless, verifiable internet, empowering developers to build applications on Ethereum. Aligned is a blockchain infrastructure project, likely an Actively Validated Service (AVS), and is seeking operators for its Mainnet Beta.

Public token sale9 Jan, 2025$1T round
Public Sale1 Jan, 2025$1M round
Seed13 Apr, 2024$2.6T round
Series A1 Apr, 2024$20M roundSyndicated · 12 disclosed investors
Pre-Seed1 Jan, 2024$1M round
Blockchain Platforms

Camp Network is a purpose-built Layer-1 blockchain and Autonomous IP Layer for AI agents and user-owned intellectual property. It enables creators, developers, and AI agents to register, license, remix, and monetize provenance-backed IP onchain.

Series A29 Apr, 2025$30T round$400M valuationSyndicated · 17 disclosed investors
Seed2 Apr, 2024$4T roundSyndicated · 15 disclosed investors
Cardinal logo

Cardinal

out of scope
Infrastructure

Cardinal builds Solana NFT infrastructure, protocols, and SDKs for conditional ownership and NFT use cases such as rentals, subscriptions, ticketing, identity, royalties, and rewards. The site states that Cardinal is winding down its protocols and UIs.

Seed1 Jul, 2022$4.4M roundSyndicated · 6 disclosed investors
Fhenix logo

Fhenix

crypto
Privacy & Confidentiality

Fhenix is a blockchain R&D company building privacy-preserving infrastructure for Ethereum and EVM-compatible chains using fully homomorphic encryption (FHE). Its CoFHE coprocessor and developer tooling enable confidential smart contracts and private DeFi applications.

Unknown1 Mar, 2025
Series A4 Jun, 2024$15T roundSyndicated · 17 disclosed investors
Seed26 Sep, 2023$7T round
Privacy & Confidentiality

Holonym Foundation operates human.tech, a privacy-first digital identity and control framework for people, institutions, and AI. It provides cryptographic identity, wallet, and privacy tools for digital services, including government and onchain use cases.

Seed1 Aug, 2024$5.5M roundSyndicated · 18 disclosed investors
Payments

IDA Finance Hong Kong Limited is a Hong Kong-based technology company providing stablecoin-related digital payment and financial services. It aims to support cross-border commerce, remittances, trade financing, and digital-asset transactions.

Seed2 Sep, 2024$6T roundSyndicated · 12 disclosed investors
Levl logo

Levl

crypto
Payments

Levl is a regulated payments infrastructure company providing cross-border payment services in fiat and stablecoins to businesses globally.

Seed11 Feb, 2026$7T roundSyndicated · 8 disclosed investors
Payments

Merit Systems builds products and developer tools for open agentic commerce. Its services help AI agents discover, pay for, and interact with APIs and other digital resources using protocols such as x402 and MPP.

Seed16 Jan, 2025$10T roundSyndicated · 18 disclosed investors
Finance

Mill City Ventures III, Ltd is a NASDAQ-listed company (MCVT) that operates as a non-bank lender and specialty finance firm, providing high-interest short-term lending arrangements. It serves as a gateway for investors to the Sui ecosystem, utilizing blockchain and stablecoins to innovate its lending services.

Unknown1 Aug, 2025$450M roundSyndicated · 17 disclosed investors

Mirai Labs builds consumer apps designed for real people, with smart tech and a fresh perspective. We turn complex ideas into intuitive experiences, creating products that users genuinely love.

Seed11 Feb, 2025$4T roundSyndicated · 7 disclosed investors
Nubit logo

Nubit

crypto

Nubit is the Bitcoin Thunderbolt, a platform designed to boost the Bitcoin network to another level with Bitcoin Core. It is built for miners, clients, and users.

Seed5 Jun, 2024$8T roundSyndicated · 14 disclosed investors
Angel Round4 Jan, 2024
Perle logo

Perle

crypto
Data & Analytics

Perle provides expert-verified training data for AI models via configurable annotation workflows, quality assurance, and human evaluation.

Seed1 Aug, 2025$9M round
Pre-Seed1 Oct, 2024$8.5M roundSyndicated · 11 disclosed investors
Phoenix logo

Phoenix

crypto
Finance

Phoenix is a non-custodial, decentralized exchange for perpetual futures built on Solana. It lets users connect compatible wallets, fund accounts with USDC, and trade leveraged perpetual contracts.

Series A1 Apr, 2024$20M roundSyndicated · 14 disclosed investors

Pod is a novel stake-based programmable layer one blockchain designed to bring optimal latency to decentralized systems. By using a simple design without blocks or chains, it aims to enable developers to build fast and user-friendly Web3 products. They have raised a $10M seed round from investors including a16z crypto.

Seed28 Jan, 2025$10T roundSyndicated · 6 disclosed investors
RAAD logo

RAAD

ai robotics
Service Provider

RAAD is an aerial intelligence platform that lets clients order drone imagery, 3D models, LiDAR data, and analysis online. It serves construction, utilities, telecoms, solar, commercial properties, insurance, and dock-based monitoring customers through a global pilot network.

Seed1 Jul, 2024$2.3M roundSyndicated · 4 disclosed investors
Data & Analytics

RedStone provides modular oracle infrastructure for DeFi by delivering secure, customizable data feeds across multiple blockchain networks.

Series A2 Jul, 2024$15T roundSyndicated · 41 disclosed investors
Angel Round23 May, 2023
Seed1 Aug, 2022$7M round
Unknown1 Aug, 2021$100K round
Renzo logo

Renzo

crypto
Infrastructure

Renzo is an institutional-grade onchain platform for liquid staking, restaking, and capital deployment. It provides staking assets, managed strategy vaults, and a gated enterprise suite for individuals and institutions seeking transparent, onchain yield strategies.

Private18 Jun, 2024$17T round
Unknown1 Jun, 2024$17M roundSyndicated · 12 disclosed investors
Private22 Feb, 2024
Unknown1 Feb, 2024
Seed15 Jan, 2024$3.2T round$25M valuation
Infrastructure

Sentient Foundation is a Singapore-based nonprofit advancing open-source, decentralized AGI aligned with humanity. It conducts and supports open AI research, provides grants and investments, and operates AI applications and infrastructure for researchers, developers, and communities.

Seed1 Jul, 2024$85M roundSyndicated · 24 disclosed investors
Privacy & Confidentiality

Silhouette is a platform for confidential on-chain trading that provides shielded orderflow, access to unfragmented liquidity via HyperCore's orderbook, and encryption-protected trade execution.

Pre-Seed10 Jun, 2025$3T roundSyndicated · 9 disclosed investors
Finance

Temple Digital Group is a trading and asset issuance platform on Canton Network, providing compliant and privacy-focused capital markets infrastructure for institutions and individuals.

Strategic1 May, 2026
Seed1 Oct, 2025$5M roundSyndicated · 11 disclosed investors
Security

TrustaLabs builds Trusta AI, an identity and on-chain reputation protocol for AI and crypto. Its offerings include verifiable credentials, identity verification, reputation and credit scoring, and AI-agent identity services.

Strategic1 Jun, 2025$80M valuationSyndicated · 26 disclosed investors
Finance

YieldPoint is a multi-chain crypto-yield platform operated by XSY Foundation. Its Unity products include the synthetic dollar UTY and yield-bearing yUTY, using market-neutral strategies and on-chain transparency for individuals and institutions.

Series A15 May, 2025$5T roundSyndicated · 10 disclosed investors
ZeroDelta logo

ZeroDelta

crypto
Finance

ZeroDelta is Glacis Labs’ clearing house for tokenized real-world assets and stablecoins. It matches institutional order flow to provide compliant, firm, zero-slippage cross-chain settlement for institutions, funds, payment platforms, issuers, wallets, and exchanges.

Seed1 Jul, 2026$6.8M round
Seed1 May, 2024$2.1M roundSyndicated · 8 disclosed investors