Primitive Ventures

Primitive Ventures is a venture capital firm founded in 2018 and headquartered in San Francisco, California. The firm specializes in investments within the blockchain and cryptocurrency sectors. With a commitment to identifying and supporting innovators in these fields, Primitive Ventures operates without a fixed investment thesis, allowing for flexibility in seeking out opportunities that demonstrate significant value and potential for growth.

Allen Day

Venture Partner

28 past transactions

Henlo

Seed Round in 2025
Henlo.com is a memecoin project that relies on community involvement and is part of the Berachain ecosystem.

Canopy

Seed Round in 2025
Canopy is a decentralized finance (DeFi) platform that operates on the Movement blockchain. It utilizes a dual-token ecosystem comprised of $LEAF and $OAK, which are designed to enhance user engagement and yield generation. The platform allows users to provide liquidity through single asset deposits, simplifying participation in yield aggregation. Canopy aims to create a balanced and efficient environment for investors seeking to maximize returns in the DeFi space.

Tac

Seed Round in 2024
TAC is a TON network extension that allows the EVM community to access Telegram users, and it enables Ton wallet holders to easily interact with EVM dApps deployed on TAC.

Sapien

Seed Round in 2024
Sapien, founded in 2023, is a data labeling company focused on improving AI model training through scalable and high-quality data labeling services. The company utilizes a unique platform that connects clients with a diverse global pool of economically motivated labelers, allowing it to manage various data types, including image recognition, object detection, language translation, and text classification. By integrating advanced technology, blockchain rewards, and human feedback, Sapien not only enhances data quality but also ensures cost-effectiveness for its clients across several industries, such as healthcare, finance, and education technology. The company's innovative approach, which includes gamification and positive reinforcement for labelers, leads to superior output and high retention rates. With a commitment to ethical AI advancements, Sapien positions itself as a trusted partner for businesses seeking to develop high-performance AI models.

Drift

Series B in 2024
Drift Protocol is a developer of a decentralized derivatives exchange that focuses on providing on-chain, cross-margined perpetual futures trading on the Solana blockchain. The platform aims to enhance the efficiency of trading futures through an upgraded decentralized system that features a new pegging mechanism. This innovation allows users to adjust liquidity based on market demand and open interest, thereby improving the overall trading experience. Drift Protocol's approach positions its exchange as a competitive option for margin trading within the decentralized finance space.

Blockscout

Seed Round in 2024
Blockscout is an open-source blockchain explorer specifically designed for Ethereum Virtual Machine (EVM) chains. It enables users to search transactions, view accounts and balances, and verify smart contracts across various networks, including forks and side chains. By providing a comprehensive toolbox for accessing transaction information, Blockscout enhances transparency and decentralization within the blockchain ecosystem. Projects can download and implement Blockscout to facilitate exploration of their specific chains, making it easier for users to verify transactions, balances, block confirmations, and other important records. Through its platform, Blockscout contributes to the independent verification of information in the blockchain market.

Cartridge

Series A in 2024
Cartridge is a developer of a decentralized gaming platform that aims to empower web gaming communities. The company focuses on verifiable on-chain games and autonomous worlds, positioning itself at the intersection of blockchain technology and gaming. By providing game development services, Cartridge enables both gamers and developers to engage with a variety of games while facilitating efficient development, testing, and scaling of new gaming experiences. This approach not only enhances the enjoyment of games for players but also supports developers in creating innovative gaming solutions.

Irys

Seed Round in 2024
The world's first programmable datachain, where data doesn't just exist; it becomes active, fluid, valuable across applications. And it's this evolution—from passive to programmable—that marks the true primitive.

Intensity Labs

Seed Round in 2024
Intensity Labs pioneers Shogun, a breakthrough DeFi protocol based on purpose. Shogun enables users to traverse decentralized finance with purpose-driven interactions, resulting in a dynamic financial ecosystem.

Sapien

Seed Round in 2024
Sapien, founded in 2023, is a data labeling company focused on improving AI model training through scalable and high-quality data labeling services. The company utilizes a unique platform that connects clients with a diverse global pool of economically motivated labelers, allowing it to manage various data types, including image recognition, object detection, language translation, and text classification. By integrating advanced technology, blockchain rewards, and human feedback, Sapien not only enhances data quality but also ensures cost-effectiveness for its clients across several industries, such as healthcare, finance, and education technology. The company's innovative approach, which includes gamification and positive reinforcement for labelers, leads to superior output and high retention rates. With a commitment to ethical AI advancements, Sapien positions itself as a trusted partner for businesses seeking to develop high-performance AI models.

Mezo

Series A in 2024
Mezo is a bitcoin economic layer network that provides fast and cheap bitcoin transactions to hold tokens while earning yield.

Nubit

Pre Seed Round in 2024
Founded by UCSB professor Yu Feng, Nubit is building the Trustless World Computer for Bitcoin, enabling open scaling and programmability of Bitcoin through Bitcoin-native technology (BitVM, OP_CAT, DA, etc). Nubit lets developers build any native application, onboarding the world to Bitcoin. Backed by Polychain. Learn more at Nubit.org.

BounceBit

Seed Round in 2024
BounceBit is a company that develops a crypto trading platform focused on providing users with a bitcoin restacking infrastructure. The platform enhances yield and connects decentralized finance (DeFi) with centralized finance (CeFi) through Ethereum Virtual Machine (EVM) compatibility secured by Bitcoin. This integration allows users to trade cryptocurrencies seamlessly and efficiently while ensuring financial security. BounceBit's solution aims to create a smart contract execution environment centered on the Bitcoin Token, enhancing the trading experience for its users.

AltLayer

Series A in 2024
AltLayer is a developer of a rollups-as-a-service platform focused on enhancing Web3 projects. The company offers a scalable application-dedicated execution layer system that derives security from underlying blockchain infrastructure. By providing an elastic and versatile scaling protocol, AltLayer aims to transform blockchain deployment, significantly improving time-to-market and allowing for customized application deployment. The platform enables users to utilize on-demand rollups, thereby benefiting from a flexible and scalable infrastructure tailored to their specific application needs.

Chaos Labs

Seed Round in 2023
Chaos Labs is a cloud-based platform that provides an automated on-chain economic security system for cryptocurrency protocols, focusing on risk management and capital efficiency. By leveraging advanced technology and risk management expertise, it enables protocols to better navigate the volatile crypto markets and protect user funds. The platform creates simulations of user interactions, protocol dynamics, and potential malicious activities, allowing clients to analyze and enhance their systems through scenario-based testing. Currently, Chaos Labs supports protocols on the Ethereum network, with plans for future expansion to additional blockchains such as Terra, NEAR, and Polygon. This approach fosters a more secure and efficient operating environment for crypto protocols, enhancing their resilience against risks.

Vovo Finance

Seed Round in 2022
Vovo Finance is a cryptocurrency company that focuses on developing a decentralized finance platform offering structured financial products. The platform is designed to enhance risk-reward ratios for users by providing various investment options that include different risk-return profiles and payoff structures. Through innovative packaged financial instruments, Vovo Finance allows users to engage in leveraged crypto trades while also offering customizable yields based on market conditions, lockup periods, and token deposits. This approach aims to cater to investors seeking tailored financial solutions in the cryptocurrency market.

RockX

Series A in 2022
RockX is a prominent player in Asia's crypto finance and blockchain landscape, offering a comprehensive technology platform for cryptocurrency staking solutions. The company specializes in running validators that generate blocks and confirm transactions on various blockchains, providing clients with essential services such as validator and staking support, exchange infrastructure, custodial services, and wallet solutions. With a team experienced in mining, staking, protocol research, and infrastructure design, RockX has developed access node APIs for major Layer 1 and 2 protocols, facilitating seamless blockchain interactions for developers. The company has established itself as one of Asia's leading staking platforms, managing over USD 900 million in staked tokens, and primarily focuses on serving institutional and high net-worth clients. RockX is committed to collaborating with synergistic partners and innovative Web 3.0 projects to contribute to the growth of the decentralized financial ecosystem.

B.Protocol

Seed Round in 2021
B.Protocol is a developer of a decentralized backstop liquidity protocol aimed at enhancing the security of lending platforms. Its blockchain-based platform integrates seamlessly with existing lending services, allowing users to engage through a dedicated smart contract interface. This innovative approach offers priority in the liquidation process by providing a cushion for user accounts approaching liquidation prices. As a result, both lenders and borrowers can reduce their reliance on traditional financing methods and improve effective interest rates, thereby unlocking greater capital efficiency in the decentralized finance (DeFi) space.

Multichain

Seed Round in 2021
Multichain is a cross-chain router protocol designed to facilitate seamless cryptocurrency transactions across various blockchain platforms. By developing a robust infrastructure, it enables users to swap cryptocurrencies efficiently among multiple exchanges. This innovative platform supports a wide range of blockchains, making it a pivotal player in the blockchain industry. Multichain's real-time capabilities enhance user experience, allowing for swift and secure transactions in a rapidly evolving digital currency landscape.

Symbiosis Finance

Seed Round in 2021
Symbiosis Finance is a decentralized multi-chain protocol that facilitates liquidity across various blockchain networks. Its innovative technology enables users to swap tokens seamlessly with a single click, while retaining sole ownership of their funds. This approach simplifies the often complex and time-consuming process of locating appropriate cross-chain bridges, allowing users to transact without the necessity of holding multiple native assets. By streamlining these operations, Symbiosis Finance aims to enhance user experience in the decentralized finance space.

Credora

Series A in 2021
Credora is a company focused on enhancing confidence in credit markets through privacy-preserving technology and real-time credit analytics. It provides a platform that empowers efficient private credit markets by offering comprehensive reports, transparent methodologies, and automated processes for onboarding and information submission. By facilitating over $1 billion in uncollateralized loans across more than 100 borrowers and lenders, Credora enables well-capitalized and risk-managed borrowers to engage in transparent and secure borrowing. Additionally, the company monitors over $4 billion in borrower assets, ensuring extensive coverage across both centralized and decentralized finance venues.

NAOS Finance

Series A in 2021
NAOS Finance operates a decentralized finance platform that provides an alternative to traditional financial systems. This platform allows decentralized finance lenders and small to medium-sized enterprise borrowers to engage in a permissionless environment on the blockchain. By facilitating the origination and funding of loans without relying on traditional intermediaries, NAOS Finance enables lenders to achieve stable and recurring income streams. Additionally, the platform bridges the gap between on-chain activities and larger off-chain opportunities, enhancing accessibility and efficiency in financial transactions.

DODO Exchange

Venture Round in 2020
DODO is a liquidity protocol powered by the Proactive Market Maker (PMM) algorithm and built for capital efficiency. DODO offers a low barrier-to-entry, pain-free token issuance mechanic for long-tail assets.

Playlist Media

Venture Round in 2019
Playlist Media, Inc. focuses on providing an online music streaming service that integrates social features, allowing users to create playlists, listen to music simultaneously with friends, and engage in real-time chat. Founded in 2013 and based in San Francisco, the company has developed a fully licensed, ad-supported platform that significantly enhances user engagement compared to traditional streaming services. The app enables users to collaborate on playlists, share favorite songs, and connect through Music Match, which pairs individuals with similar musical tastes. Playlist Media leverages advanced technologies such as synchronized streaming and machine learning to enhance the listening experience. Founded by experienced entrepreneurs with a rich background in digital music and technology, the company aims to revolutionize how people interact with music and each other, making it a unique blend of streaming and social networking.

Alphaslot

Seed Round in 2018
Alphaslot is a blockchain ecosystem focused on enhancing gaming entertainment and acquiring new players through innovative technology. The company leverages a tokenized motivation system to incentivize customer engagement, fostering growth in the gaming entertainment sector. Its distributed blockchain-based computing platform supports commercial-scale gaming applications and facilitates the connection of multiple blockchains, thereby broadening user access. Alphaslot allows gaming operators and the entertainment industry to utilize their servers as validators, which secures operations within the Alphaslot Chain. Additionally, the platform aims to apply the token economy and will gradually expand into the management and regulation of the digital asset market, enabling casinos to attract a wider global audience.

Kadena

Funding Round in 2018
Kadena LLC, established in 2016 and headquartered in Brooklyn, New York, specializes in private and permissioned blockchain technology solutions. The company has developed a hybrid blockchain platform that combines the benefits of public and private networks, featuring a unique sharded and scalable layer-1 proof-of-work public network. Kadena's technology addresses the scaling challenges of Bitcoin and the security concerns associated with Ethereum. Central to its offerings is the ScalableBFT consensus protocol, which is inspired by the Tangaroa protocol, and Pact, a programming language designed for implementing transactional logic and executing business operations. Kadena also emphasizes privacy through its blockchain settings that prevent unauthorized access to transaction details. With partnerships that include notable entities such as Cosmos and USCF, Kadena aims to provide a comprehensive platform for decentralized data sharing and transactions.

SpaceComputer

SpaceComputer uses satellites to create a secure blockchain system that resists cyberattacks and physical tampering.

Biconomy

Biconomy is a relayer infrastructure network and transaction highway to reduce the friction between applications built on the blockchain and the end-users. Biconomy’s relayer network comprises of an SDK and dashboard that abstracts and hides many of the complexities of opening a wallet, storing private keys, paying gas, and buying cryptocurrency.
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