Polymorphic Capital

Polymorphic Capital is a venture capital firm established in 2021 and based in Cyprus. The firm invests globally in the web3 sector, focusing on teams that are developing decentralized protocols and digital assets. Its investment strategy emphasizes infrastructure, finance, and gaming, providing long-term support to exceptional teams that harness innovative technologies and foundational principles of Web3. By doing so, Polymorphic Capital aims to facilitate significant transformations across various markets.

Eldar Khamitov

Partner, Portfolio Development

Richard Sobel

Partner, Strategic Development

Vitaly Spassky

Founder and Managing Partner

13 past transactions

Gnosis

Venture Round in 2022
Gnosis offers a decentralized platform for prediction markets, leveraging Ethereum's blockchain technology to facilitate advanced smart contracts. This infrastructure aims to eliminate intermediaries and counterparty risks, supporting a vision of a redistributed future. Gnosis enables the creation of customized forecasting applications that produce conditional tokens, making event outcomes tradable and serving as a valuable tool for information discovery. By prioritizing credible neutrality and resiliency, Gnosis provides a transparent environment for clients to make informed decisions regarding the development and governance of their projects within the blockchain ecosystem.

Nevermined

Seed Round in 2022
Nevermined is a developer of a decentralized data sharing platform designed to facilitate the publishing, discovery, buying, selling, and secure access to data. The platform serves as an ecosystem development tool, offering components that integrate easily with Web3 technology. Nevermined also features an NFT marketplace, decentralized access control, and governance tools, allowing clients to manage tokenized asset access effectively. As the demand for AI-commerce grows, Nevermined positions itself as a critical player in this evolving landscape, likened to a PayPal for AI, aiming to standardize payments and unlock the potential of decentralized artificial intelligence.

Swap.net

Angel Round in 2022
Swap.net is a developer of an NFT aggregator and exchange platform that provides aggregated liquidity across various marketplaces. The platform enables users to search for notable collections and tokens across different blockchain markets, facilitating cross-market arbitrage and the execution of limit orders for collections treated as liquid assets. By allowing users to identify the most competitive offers for any token, Swap.net enhances the accessibility and efficiency of NFT transactions, catering to the evolving needs of the digital asset community.

Fluence Labs

Series A in 2022
Fluence is an open-source, public, blockchain-based decentralized database platform. It connects computing devices into the network running managed database services and generalized backends, all the while using a cryptographic token as a digital payment system.

ZELF

Convertible Note in 2022
Zelf is a neobank focused on serving Gen Z by integrating financial services into messaging platforms. It provides a streamlined onboarding process that allows users to issue a card and conduct transactions in under 60 seconds, all without leaving their preferred messaging app. The platform offers AI-powered voice control for various financial operations, catering to the growing preference for voice interactions among younger users. Additionally, Zelf enables users to create and manage invoices, as well as track and send reminders for unpaid bills, ensuring a convenient and efficient approach to managing finances.

Folks Finance

Seed Round in 2022
Folks Finance is a leading algorithmic capital markets protocol for lending and borrowing, developed on the Algorand blockchain. It provides users with the ability to earn continuous economic returns by depositing liquidity, while also allowing them to secure crypto loans by using their deposits as collateral. The protocol emphasizes soundness and security through its innovative economic lending model and includes features such as staking of rewards, safety margins for cryptocurrency pairs, and a unique liquidity provision system. Developed by Blockchain Italia, a firm specializing in Algorand, Folks Finance aims to deliver scalable, low-cost, and secure financial tools for digital assets, enabling users to actively participate in Algorand governance.

Azuro

Seed Round in 2022
Azuro is a global decentralized betting protocol, utilizing smart-contracts to bring full transparency to the betting process and to deliver a classic betting experience with plentiful markets & liquidity and funky innovations like collectible bets and gamification via NFTs

Concept Art House

Series A in 2021
Concept Art House is a leading art service provider and original IP studio in the East and the West. They are a company of professional artists and industry veterans. They are fast-paced, energetic, and passionate about the work they do for their high-profile clients as well as on their own original properties.

Stardust

Series A in 2021
The Stardust Platform is a Blockchain SaaS that enables game publishers to easily create and implement blockchain assets into their games without having to worry about scalable blockchain infrastructure or writing code

Azuro

Pre Seed Round in 2021
Azuro is a global decentralized betting protocol, utilizing smart-contracts to bring full transparency to the betting process and to deliver a classic betting experience with plentiful markets & liquidity and funky innovations like collectible bets and gamification via NFTs

Ownera

Convertible Note in 2021
Ownera is an institutional-grade digital securities network based in Vaduz, Liechtenstein, founded in 2018. The company provides an application programming interface (API) that enables customers to directly connect to its network. Additionally, Ownera offers an issuance platform designed for financial institutions, facilitating the easy issuance of digital securities.
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