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Series A2023-05-09$12MLead investor
ParaFi Capital
18portfolio companies
11categories
7rounds led
About ParaFi Capital
ParaFi Capital is a multi-strategy alternative asset management firm founded in 2018 in New York. The firm manages $1.6 billion in assets as of June 30, 2026. Partner and Chief Operating Officer Adrian Uberto helps oversee investment operations alongside the firm's engineering and research teams. ParaFi combines venture equity, private token allocations, and liquid digital asset strategies.
Funds and focus
ParaFi backs founders across early and growth stages, concentrating on decentralized finance, tokenized real-world assets, stablecoins, and prediction markets. In August 2024, ParaFi closed a $120 million fund to acquire GP stakes in crypto venture firms. In March 2026, the firm raised $125 million for ParaFi Venture Fund III to back institutional onchain finance and tokenization technologies.
Portfolio and notable investments
ParaFi has led or backed key infrastructure teams across multiple ecosystems. Notable investments include co-leading the $225 million round for Wormhole in November 2023, leading a $450 million Series D for Consensys in March 2022, and leading 1inch's $12 million Series A in December 2020. ParaFi also led the $5.5 million Seed round for deBridge in September 2021, led the $12 million Series A for Blockworks in May 2023, and backed Arbitrum's $120 million Series B in August 2021.
The firm has supported prediction markets since early stages, joining Polymarket's $4 million Seed round in October 2020 and its $45 million Series B in May 2024. In August 2024, ParaFi led a $10 million Series A for enterprise asset provider Parfin. Later private investments include participating in Courtyard's $30 million Series A in July 2025 and leading a $35 million strategic round for Jupiter Lend in February 2026.
Portfolio in our directory
Analytics & Portfolio Trackers (1)
Blockchains (1)
Ethereum optimistic rollup securing over $12B with ~0.25-second block times and Stylus Rust contracts
Cross-Chain Bridges (2)
Cross-chain messaging protocol securing transfers across 45+ blockchains
2023-11$225M
Intent-based cross-chain protocol settling transfers across 25+ networks without locked liquidity pools
No KYCSeed2021-09-07$5.5MLead investor
Crypto Asset Managers (1)
Crypto asset manager running over 70 products with $9B in client assets
2025-02-25$70M
Crypto Cards (1)
Prepaid Mastercard powered by Crypto Life and issued by Monavate
Strategic2020-12$12M
Crypto News & Media (1)
Independent crypto journalism publication founded in 2019 focused on decentralized finance and onchain tech
Pre-Seed2021-04-12$1.4M
DeFi Lending (3)
Solana money market protocol built by Jupiter with over $1B in total value locked
No KYCStrategic2026-02$35MLead investor
Solana lending and liquidity protocol with over $1.3B in TVL and fixed-rate borrow markets
RWA tokenization infrastructure founded in 2017, with $1.8B+ in total value locked
KYC required
Decentralized Exchanges (3)
DEX aggregator routing swaps across 18+ networks, including Ethereum and Solana
Series A2020-12-02$12MLead investor
Cross-chain liquidity and stablecoin activation stack settling transfers across 30+ blockchains
Lead investor
Solana DEX aggregator with 0% to 0.5% Ultra swap fees
NFT Marketplaces (2)
Polygon-based marketplace for trading physical graded collectibles vaulted and tokenized as 1:1 NFTs
Series A2025-07-24$30M
Non-custodial multichain NFT marketplace charging 1.5% to 2% trading fees across major networks
No KYCSeed2021-02-03$1.8M
Oracles & Infrastructure (2)
Ethereum software and infrastructure provider powering Infura, MetaMask, Linea, and Besu
Series D2022-03$450MLead investor
Decentralized blockchain indexing and GraphQL queries across 60+ networks
Seed2020-06-30$5.1M
Prediction Markets (1)
Prediction market on Polygon, founded in 2020 and backed by Founders Fund
Latest on X
One of the great conversations from ParaFi’s 2026 Investor Day last week. Thank you to @saylor for joining us!
Up/Down markets, popularized by prediction market venues, turn price moves into simple binary bets: will BTC rise or fall over the next 15 minutes?
These contracts generated $9.3B in notional volume in September 2026, up ~12x YTD and more than 78x YoY. Crypto accounts for 90% of volume, but commodities activity has surged, potentially fueled by oil-price volatility tied to the U.S.-Iran conflict.
We see binary contracts as an emerging financial primitive and an evolution of 0DTE options. In our view their growth points toward hyper-financialization: more assets, shorter time horizons, always-on markets.
These contracts generated $9.3B in notional volume in September 2026, up ~12x YTD and more than 78x YoY. Crypto accounts for 90% of volume, but commodities activity has surged, potentially fueled by oil-price volatility tied to the U.S.-Iran conflict.
We see binary contracts as an emerging financial primitive and an evolution of 0DTE options. In our view their growth points toward hyper-financialization: more assets, shorter time horizons, always-on markets.
Non-USD stablecoin supply grew approximately 5x over the past two years, as clearer regulation, particularly MiCA, enabled regulated issuers and institutions to enter the market. We believe usage has developed along two distinct paths: EURC, Circle’s Euro-backed stablecoin, serves as the primary liquid onchain euro for trading, FX and DeFi, while other local-currency stablecoins are increasingly being integrated into local payment rails for payments, payroll and settlement.
As of September 15, 2026, EURC accounted for 45.7% of tracked supply and 90.1% of reported 30-day trading volume, which we believe reflects its deeper liquidity and integrations with Aerodrome, Uniswap, Aave and Morpho, and other DeFi protocols. Excluding EURC, approximately 80% of non-USD stablecoin activity involved simple transfers consistent with payments, payroll and settlement. This suggests that EURC is more oriented toward onchain financial activity, while other non-USD stablecoins may be gaining adoption through local payments and settlement.
As of September 15, 2026, EURC accounted for 45.7% of tracked supply and 90.1% of reported 30-day trading volume, which we believe reflects its deeper liquidity and integrations with Aerodrome, Uniswap, Aave and Morpho, and other DeFi protocols. Excluding EURC, approximately 80% of non-USD stablecoin activity involved simple transfers consistent with payments, payroll and settlement. This suggests that EURC is more oriented toward onchain financial activity, while other non-USD stablecoins may be gaining adoption through local payments and settlement.
Crypto and TradFi are converging through M&A.
Cross-market M&A between crypto and TradFi has exceeded $22.8B in announced deal value since January 2024, with $15.4B of deal value in 2025 alone.
TradFi and fintech firms are acquiring crypto exchanges, stablecoin infrastructure and wallets, while crypto firms are buying transfer agents, brokerages and derivatives infrastructure. Both sides are buying what they lack to expand beyond their native markets.
Cross-market M&A between crypto and TradFi has exceeded $22.8B in announced deal value since January 2024, with $15.4B of deal value in 2025 alone.
TradFi and fintech firms are acquiring crypto exchanges, stablecoin infrastructure and wallets, while crypto firms are buying transfer agents, brokerages and derivatives infrastructure. Both sides are buying what they lack to expand beyond their native markets.
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