Multicoin
Capital

/ Introduction

我们是以理论驱动的投资者,在公共和私人市场上对加密公司和协议展开长期、高确信的投资。

/Our Funds

  • 01/ Master Fund

    Founded in 2017, our master fund is a thematic, long-oriented hedge fund that deliver strong absolute returns over a long time horizon through asset selection across market cycles. This multi-billion dollar fund invests predominantly in tokens and is active in public markets, direct investments, and strategic sales.

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  • 02/ Venture Fund

    We partner with crypto entrepreneurs to reshape trillion-dollar markets. We’re currently deploying out of our third venture fund, a $422 million vehicle raised in January 2022. This fund backs early-stage companies and founders with investments ranging from $1M-$50M.

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  • / Insights

    /IBRL

    Kyle Samani
    October 2, 2025 | 5 minute read

    Today, DoubleZero (DZ) launched onto mainnet-beta. Multicoin Capital co-led a $28M investment round in DoubleZero earlier this year. Blockchains are globally distributed systems. The core L1 teams have collectively invested $1B+ over the last decade optimizing networking protocols, consensus, execution, and storage.

    Kyle Samani
    October 2, 2025 | 5 minute read

    /Creating The World’s Leading Solana Treasury Company

    Kyle Samani
    Multicoin Capital
    by Kyle Samani & Multicoin Capital
    September 11, 2025 | 10 minute read

    Today I’m excited to announce that Multicoin Capital, Jump Crypto (the largest trading firm in crypto), and Galaxy (the largest financial conglomerate in crypto) have successfully led a $1.65B PIPE into Forward Industries, Inc. (NASDAQ: FORD), which will use the net proceeds to initiate a Solana treasury company strategy. Each sponsor committed over $100M in USD.

    Kyle Samani
    Multicoin Capital
    by Kyle Samani & Multicoin Capital
    September 11, 2025 | 10 minute read

    /欢迎 Brian Strugats 加入 Multicoin Capital

    Kyle Samani
    July 15, 2025 | 2 minute read

    今天,我们很高兴欢迎 Brian Strugats 加入 Multicoin Capital 担任我们的新任首席交易员。 Brian 将负责基金的最佳运行,管理与合约另一方的关系,为投资团队提供有用的市场背景信息,并改进我们的交易能力。

    Kyle Samani
    July 15, 2025 | 2 minute read

    /发行和交易的新模式

    Vishal Kankani
    Shayon Sengupta
    Kyle Samani
    June 26, 2025 | 14 minute read

    普通人在传统金融体系中几乎无法创建新的可交易资产。加密货币显著简化了这一过程。如今,任何人都能在数秒内于 Solana 上以近乎零成本创建新资产。 因此,用户生成资产(UGA)呈现爆发式增长。

    Vishal Kankani
    Shayon Sengupta
    Kyle Samani
    June 26, 2025 | 14 minute read

    /Jito (JTO) 资产报告

    Shayon Sengupta
    Tushar Jain
    March 4, 2025 | 4 minute read

    过去三年,Multicoin Capital 通过旗下的对冲基金和风险基金,在 Jito Network 原生代币 JTO 上获得了相当大的持仓。 以下是我们 45 页资产报告的执行摘要。您可以点击“阅读完整报告”按钮,下载完整的报告和分析,包括我们的估值模型和价格目标。

    Shayon Sengupta
    Tushar Jain
    March 4, 2025 | 4 minute read

    /Where Are All The Robots?

    Shayon Sengupta
    February 25, 2025 | 6 minute read

    Today, we are excited to announce that Multicoin led an $8M strategic acquisition of GEOD, the native token of the Geodnet Network, from the Geodnet Foundation. Geodnet is a precise positioning network that leverages DePIN economics to power mission-critical localization services for drones, autonomous vehicles, and the tens of millions of robots that will likely proliferate the Earth over coming years.

    Shayon Sengupta
    February 25, 2025 | 6 minute read

    /反转人类代理关系

    Shayon Sengupta
    January 30, 2025 | 12 minute read

    1997 年,IBM 的 Deep Blue 在国际象棋比赛中击败了当时的世界冠军 Garry Kasparov,这表明计算机国际象棋引擎很快就会超越人类。有趣的是,一个准备充分的人在与一部计算机(通常称为“centaur”的计算机系统)合作时,就可以胜过那个时代最强大的引擎。

    Shayon Sengupta
    January 30, 2025 | 12 minute read

    /Solana 投资论点:互联网资本市场

    Kyle Samani
    January 22, 2025 | 17 minute read

    自 2018 年 5 月 Solana 种子轮融资以来,Multicoin Capital 持续投资于 Solana 的原生代币 SOL 及更广泛的 Solana 生态系统。在此期间,我们发布了四篇 Solana 投资论点。 前两篇发表于 2020 年 3 月主网生成首个区块前的九个月。随着 Solana 网络的发展,我们对 Solana 网络及作为资产的 SOL 的思考框架也在不断演进。

    Kyle Samani
    January 22, 2025 | 17 minute read

    /Some Things Never Change, Even In 2025

    Multicoin Capital
    by Multicoin Capital
    January 9, 2025 | 12 minute read

    One of the best quotes from Jeff Bezos is: “What's going to change in the next 10 years?' And that is a very interesting question; it's a very common one. I almost never get the question: 'What's not going to change in the next 10 years?' Earlier this week, we published a stereotypical VC post about new areas that our investment team is looking forward to seeing in 2025.

    Multicoin Capital
    by Multicoin Capital
    January 9, 2025 | 12 minute read

    /2025 年的前沿理念

    Multicoin Capital
    by Multicoin Capital
    January 7, 2025 | 12 minute read

    2025 年有望成为该行业的关键一年。 首个支持加密监管框架的出现,加上 1 层区块链、DeFi 协议、DePIN 网络和稳定币的技术成熟,将为新一波前沿创新提供肥沃的土壤。 我们将秉承传统,分享未来一年最令我们激动想法和机遇。

    Multicoin Capital
    by Multicoin Capital
    January 7, 2025 | 12 minute read
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