Waterdrip Capital

Waterdrip Capital is a venture capital firm established in 2017 and headquartered in Shanghai, China. The firm specializes in investments within the blockchain industry, focusing on innovative projects and companies that leverage blockchain technology. Waterdrip Capital aims to support the growth and development of the blockchain ecosystem by providing financial backing and guidance to promising ventures in this sector.

Li, Wancai

Co-Founder and Partner

Jialing Liu

Founder

Yige Shi

Managing Partner

Zheng, Yushan

Founding Partner

Past deals in Ethereum

Kaia

Venture Round in 2025
Kaia is a technology company that specializes in blockchain development, with a particular focus on creating the Kaia EVM Layer 1 public blockchain tailored for Web3 applications in Asia. The company employs Byzantine Fault Tolerance (BFT) to ensure enhanced reliability and performance, making its platform suitable for various decentralized applications. By leveraging advanced blockchain technology, Kaia aims to facilitate the growth and integration of Web3 solutions in the Asian market.

Hibit

Venture Round in 2025
Hibit is a Layer-1 blockchain that is specifically developed for AI agents and next-generation financial technology solutions.

Zulu Network

Pre Seed Round in 2024
Zulu Network is a bitcoin networking platform that focuses on enhancing the Bitcoin ecosystem through its innovative layer structure. It supports both Ethereum Virtual Machine (EVM) and Unspent Transaction Output (UTXO) functionalities, allowing developers to create decentralized applications with improved scalability and efficiency. The platform's modular, dual-layer architecture facilitates versatile development, enabling users to leverage the benefits of both Bitcoin and Ethereum technologies. By providing tools and infrastructure for decentralized application development, Zulu Network aims to drive significant advancements in the functionality and accessibility of Bitcoin-based solutions.

BEVM

Seed Round in 2024
BEVM operates a decentralized platform enabling Ethereum ecosystem operations on Bitcoin's second layer.

Merlin Chain

Seed Round in 2024
Merlin Chain offers a native scaling solution.

Doubler Pro

Seed Round in 2024
Doubler Pro is a financial strategy tool provider that offers a financial strategy tool based on open smart contracts. They also released a test network that interfaces with the Blast layer 2 network, allowing customers to speed development and improve user experience.

4Everland

Seed Round in 2023
4Everland is a cloud computing platform that offers website and app design and development services.

DLC.link

Pre Seed Round in 2022
DLC.link enables users to earn yield on their Bitcoin while maintaining full ownership. It facilitates non-custodial escrow, unlocking the majority of idle Bitcoin for lending across various blockchains.

D/Bond

Series A in 2021
D/Bond has developed the ERC-3475 standard, empowering everyone to create customised, tradable bonds on the blockchain. Besides the standard, it has also created a user-friendly, open-source platform for everyone to enjoy the benefit of even fixed-rate D/Bonds — now with guaranteed interest payment and capital repayment. A whole new world of financial possibilities for everyone. In 2023, the founder of D/Bond established Desmo Labs, a newly conceptualized company incorporating the solutions of its predecessor. Desmo Labs, which translates to "Linking Together," is focused on creating a decentralized derivative standard and market.

Deep DAO

Seed Round in 2021
DeepDAO is a data analytics platform focused on decentralized autonomous organizations (DAOs). It offers extensive analytics and information gathering, presenting a main dashboard that enumerates and ranks DAOs based on key metrics such as membership and assets under management. The platform enhances discoverability and provides comprehensive insights into decentralized governance systems, enabling clients to conduct thorough research. By aggregating relevant data, DeepDAO serves as a valuable resource for those interested in understanding and navigating the landscape of DAOs.

MetisDAO

Seed Round in 2021
Metis is a first of its kind, scaling and user friendly platform built to scale Ethereum and facilitate infrastructure development. The Metis Layer 2 is just the core component of the Metis Stack*, followed by the Reputation Power System, and the Decentralized Autonomous Company (DAC) Framework.
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