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§ Venture Capital · Los Angeles, CA, USA
A crypto-native venture capital fund investing in early-stage Web3, crypto, and blockchain startups. Leverages Bankless media.
Key people at Bankless Ventures.
Bankless Ventures is an early-stage venture capital firm based in Norfolk, Virginia, that primarily invests in cryptocurrency, blockchain infrastructure, and Web3 startups. The firm operates a traditional venture capital model, generating revenue through management fees and carried interest while leveraging its affiliated media platform to provide strategic support, deal flow, and distribution. In February 2024, the organization announced the final close of its inaugural fund, securing $40 million in total capital commitments from more than 70 limited partners. The investment vehicle's limited partners include prominent industry figures such as Marc Andreessen and Chris Dixon. The firm has built its initial portfolio by participating in early-stage funding rounds for notable decentralized technology projects, including EigenLayer, Farcaster, and the Ethena protocol. Bankless Ventures was officially founded in 2023 by Ryan Sean Adams, David Hoffman, and Ben Lakoff.
Key people at Bankless Ventures.
Bankless Ventures is an early-stage venture capital fund focused on investing in decentralized finance (DeFi) and blockchain projects within the Web3 ecosystem. Its mission is to empower pioneers exploring the frontier of Web3 by providing capital and support to early-stage crypto-native startups. The firm leverages its deep roots in the crypto community, co-founded by Bankless founders David Hoffman and Ryan Sean Adams, to back innovative projects that align with their vision of a decentralized financial future. With an initial fund size of approximately $35 million and backing from prominent crypto and venture figures, Bankless Ventures plays a significant role in nurturing the startup ecosystem around blockchain and DeFi technologies[1][2][4][6].
Founded in 2023, Bankless Ventures emerged from the founders’ experience with Bankless Media, a platform educating and growing the crypto community. The idea to launch a dedicated venture fund was floated in 2021 as a natural extension of their angel investing and advisory activities. The fund aims to capitalize on bear market opportunities by investing early in promising projects that can shape the future of crypto finance. Key partners include David Hoffman, Ryan Sean Adams, and Ben Lakoff, with notable limited partners such as Marc Andreessen and Chris Dixon from a16z, as well as Ethereum and Polygon ecosystem leaders[1][4][5].
Bankless Ventures rides the wave of the growing decentralization and Web3 movement, which aims to reshape finance, governance, and digital ownership. The timing is critical as blockchain technology matures and regulatory clarity improves, creating fertile ground for innovation. By focusing on early-stage DeFi and blockchain projects, the firm influences the broader ecosystem by identifying and accelerating pioneers who build foundational infrastructure and applications for a decentralized future. Their dual role as media educators and investors uniquely positions them to shape both market narratives and capital flows in crypto[4][6].
Looking ahead, Bankless Ventures is poised to expand its fund size and deepen its portfolio as Web3 adoption accelerates. Trends such as modular blockchains, privacy solutions, and decentralized governance will likely shape their investment focus. Their influence may grow as they continue to bridge media, community, and venture capital, potentially becoming a leading force in defining the next generation of decentralized finance and blockchain innovation. The firm’s evolution reflects a broader shift in venture capital towards crypto-native, community-driven investment models that align financial incentives with the ethos of decentralization[4][6].
Bankless Ventures has more than 26 tracked investments across 25 companies. The latest tracked deal is $7.0M Seed in Tenbin in January 2026.
