BITKRAFT Ventures is a venture capital firm focused on early-stage investments at the intersection of interactive entertainment, artificial intelligence, and immersive technology. Founded around 2018 by German entrepreneur Jens Hilgers, the firm operates as a global investment platform with teams in North America, Europe, and Asia, including offices in Berlin, Los Angeles, San Francisco, New York, London, Madrid, Singapore, Barcelona, Chicago and Lisbon. It is headquartered in Denver, Colorado, and backs startups across the interactive entertainment ecosystem.

Makers Fund is a global venture capital firm that focuses on interactive entertainment and gaming. Based in San Francisco and operating across North America, Europe, and Asia, it invests in early-stage companies, including seed and Series A/B rounds. The firm provides capital, strategic guidance, and access to a broad network of industry partners to help founders navigate product development, go-to-market, and growth challenges. It emphasizes collaboration and trust in founders' vision and supports portfolio companies through the early stages of building and scaling entertainment experiences, leveraging sector expertise to accelerate growth.

Infinity Ventures Crypto is a Taipei-based venture capital firm that backs early-stage companies in Web3, gaming, digital entertainment, AI, infrastructure, and fintech. Through a portfolio of more than 200 investments, it provides strategic backing and Asia-focused partnerships to help founders scale. The firm emphasizes innovative technologies shaping digital ecosystems, including Web3-enabled gaming and DeFi infrastructure, and collaborates with regional partners to navigate fast-evolving markets.

Play Ventures is a Singapore-based venture capital firm focusing on early-stage investments in gaming, consumer apps, and related sectors such as B2B infrastructure and services, and AI. Founded by successful gaming entrepreneurs, it provides tailored founder support and network access, helping portfolio companies navigate fundraising and growth. The firm invests globally in game studios and consumer technology companies and maintains a hands-on approach to funding rounds. Its track record includes Fund I delivering solid returns, and it has launched Fund II with about $135 million to fuel growth. Notable portfolio companies include Social First, Reworks, and Mod.io.

Andreessen Horowitz is a venture capital firm founded in 2009 and based in Menlo Park, California. It provides capital across development stages from seed to late-stage growth and invests in software and technology companies across artificial intelligence, biotech and health, consumer technologies, cryptocurrency, fintech, enterprise software, infrastructure, and related sectors. Beyond funding, the firm offers operational support through a structured ecosystem of technical advisors, executive talent, and industry operators, and differentiates itself with strategic guidance, thought leadership, and programs to nurture talent. It maintains a global presence and supports portfolio companies with resources and networks to accelerate growth.

Griffin Gaming Partners is a Santa Monica-based venture capital firm specializing in the gaming industry. Founded in 2019, it invests across the gaming ecosystem—including content, software, platforms, esports, multimedia, information technology, software infrastructure, blockchain and mobile—at all stages from Pre-Seed to Pre-IPO. The firm brings deep industry experience and a founder-friendly approach to help portfolio companies scale through strategic relationships and operational support.

Yield Guild Games is a decentralized autonomous organization that operates as a play-to-earn gaming guild and investor in non-fungible tokens used in virtual worlds and blockchain-based games. The organization seeks to build the largest virtual world economy by aligning community-owned assets for maximum utility and sharing profits with token holders. It coordinates a global community of players to participate in NFT-based games, enabling members to earn rewards through play and to discover new titles. The group also maintains regional sub-DAOs, such as Yield Guild Games Southeast Asia, to support local activity and governance within its broader ecosystem.

1Up Ventures is a venture capital firm based in Kirkland, Washington, specializing in backing game developers. It focuses on funding independent developers globally and investing in gaming and technology sectors. The firm supports developers through a collaborative community, leveraging a team with extensive experience in game development, publishing, and business management, including industry veterans Ed Fries, Kelly Wallick, and Emily Greer. The firm emphasizes diversity and inclusivity and aims to empower talented developers to grow within the evolving gaming landscape.

Alumni Ventures is a venture capital firm that broadens access to venture and private market investments for accredited investors, including alumni networks, by enabling co-investment alongside leading VC firms. It offers investment funds, investing clubs, portfolio opportunities, and educational resources through its AV Academy, and provides support to startup founders. The firm emphasizes transparency with access to due diligence materials and live discussions, and seeks to build a diversified portfolio through collaborative investing. Headquartered in Manchester, New Hampshire, it operates with offices in New York, Boston, Menlo Park, Chicago, London and Tokyo to reach a broad investor base.

London Venture Partners is a London-based venture capital firm focused on the gaming ecosystem. It invests across the gaming sector, including entertainment, studios, content, technology, platforms and services, at angel, seed and growth stages, and emphasizes operating expertise and hands-on support for portfolio companies. The firm seeks founders with the potential to build world-leading games or game technologies and leverages deep industry connections to help them scale. While primarily funding European ventures, it has an international perspective and has backed companies in the broader gaming space. The practice emphasizes early partnership and typically serves as a first investor and strategic partner, supporting companies from product development through scaling. The team combines investment judgment with in-depth knowledge of game development, monetization, and technology trends, aiming to foster innovation and create enduring game franchises.

FJ Labs is a New York-based venture capital firm founded in 2015 by Fabrice Grinda. It is stage-agnostic and focuses on marketplaces and consumer-facing startups, with seed and Series A investments. The typical investment range is $50,000 to $5,000,000. The firm backs entrepreneurs pursuing network effects and transformative business models, and its portfolio includes notable companies such as Alibaba Group, Beepi, BrightRoll, Betterment, Adore Me, and Earnest.

Sfermion is a Chicago-based venture capital firm founded in 2019 that concentrates on technology and metaverse investments, including esoteric digital assets. The firm focuses on backing companies operating in the metaverse and related digital asset ecosystems, pursuing opportunities within the evolving metaverse landscape and connecting with industry networks to support portfolio companies.

GFR Fund is a San Francisco-based venture capital firm affiliated with GREE VR Capital, the investment arm of GREE Inc. It invests in early-stage startups in gaming, generative AI, creator economy, media, brands and consumer technology, with a focus on digitally-native communities and cultures and on emerging markets in South Asia, Southeast Asia and Africa, while also maintaining a presence in the United States. The firm leverages deep industry knowledge and its expansive network to provide strategic support beyond capital, including business development and partnerships to help portfolio companies scale globally.

Sisu Game Ventures is a Helsinki-based venture capital firm dedicated to early-stage game companies, with roots in the Nordic region and a global portfolio since 2014. It prioritizes backing founding teams and offers strategic guidance, industry expertise, and access to a broad network to support long-term success. The team includes seasoned game developers who have built multiple game companies and invested in numerous startups, and it functions as a studio builder by helping founders assemble teams, refine product strategy, and secure the right investors. Beyond funding, Sisu maintains the Sisufamily network to foster ongoing collaboration and support for portfolio companies. The firm specializes in games and emphasizes practical, hands-on involvement to help ventures grow.

General Catalyst is a venture capital firm founded in 2000 that supports companies from seed to growth stages. It invests across consumer, enterprise software, fintech, crypto, and health sectors, with a growing focus on applied artificial intelligence. The firm provides capital and strategic guidance to help entrepreneurs scale, drawing on a broad network and experienced team to nurture portfolio companies. General Catalyst maintains multiple offices, including Cambridge, Massachusetts, and San Francisco, with additional locations in North America and Europe, reflecting a global approach to backing transformative technologies and business models.

Konvoy Ventures is a thesis-driven early-stage venture capital firm based in Denver, Colorado, focused on gaming technology, interactive entertainment, deep tech, and related platforms at the frontier of the gaming ecosystem, including blockchain-based gaming. It backs early-stage companies developing platforms, technologies, and immersive experiences that push the boundaries of gaming. In addition to investing, Konvoy Ventures shares industry insights through a weekly newsletter and has published reports such as the Q2 2025 Gaming Industry Report to inform trends and portfolio decisions.

CRIT Ventures is a venture capital firm based in Seoul, South Korea, founded in 2020, that backs technology companies across seed, early, and later stages. The firm focuses on digital content, metaverse, AI, and gaming sectors and maintains a diverse portfolio spanning metaverse development, interactive content, AI applications, and gaming ventures, including investments in Gameloft Korea and Netmarble. It operates internationally with offices in Seoul and the United States and is led by an experienced team with backgrounds from Seoul National University, KAIST, and Imperial College London.

Transcend is a San Francisco-based venture capital firm founded in 2020 that backs AI-native entrepreneurs shaping the next generation of interactive entertainment and digital media. It concentrates on early-stage investments from pre-seed through Series A and collaborates with founders to refine product strategy, validate markets, and develop compelling narratives that accelerate growth. Built on decades of operator experience, the firm seeks opportunities in a $250 billion global market where AI reshapes economics, helping portfolio companies scale as the industry evolves.

Impact46 is a Riyadh-based asset management and advisory firm specializing in alternative investments in Saudi Arabia and the MENA region. It operates in two core areas: Credit Advisory, advising mid-market corporates on sukuk and credit fund structures across sectors including non-banking financial institutions, real estate, manufacturing, and infrastructure; and Venture Capital, investing in Saudi and regional tech-driven startups and backing landmark IPOs such as Jahez and Rasan. The firm provides investment management, fund operations, advisory, and arranging services to local and international institutions, family groups, endowments, and high-net-worth investors. It has arranged multiple sukuk issuances for companies such as iOud, Bidaya Finance, and Raya Financing, and launched a 150 million Saudi Riyal gaming-focused fund. Impact46 is licensed by the Saudi Capital Market Authority.

The Games Fund is an early-stage venture capital firm founded in 2020 by seasoned video game industry professionals. It invests in game developers, gaming technologies, and related services, providing strategic guidance and a collaborative approach that respects founders’ vision. Drawing on deep industry knowledge and a broad network, the firm supports portfolio companies to scale in the fast-growing video game market. The firm is based in the United States, with activity in major markets including New York and Los Angeles.

Gaingels is a venture investment syndicate focused on LGBTQ+ founders and inclusive leadership. It invests in companies with LGBTQ+ founders and C-suite leaders across stages and helps established firms build diverse teams and inclusive boards. The network is global, with a portfolio of over 130 companies and about 70 million dollars deployed. Gaingels emphasizes supportive founder relationships and leverages a broad network of co-investors to promote positive social change through business and inclusive leadership.

IMM Private Equity is an independent private equity firm based in Seoul, South Korea, specializing in growth capital, significant minority investments, and middle-market buyouts. It pursues Korea- and Asia-focused opportunities, taking an active role in portfolio companies to drive value through strategic guidance and operational improvements across sectors such as manufacturing, information technology, internet, leisure, retail, and cultural contents.

Metavest Capital is a venture capital firm and consultancy specializing in the metaverse, NFT gaming, and related blockchain technologies. It provides strategic partnerships and advisory services for play-to-earn projects, leveraging a gaming guild to optimize project mechanics and marketing. The firm also invests in a curated portfolio of blockchain games, NFTs and tokens, reflecting deep expertise in Web3 gaming and the crypto market and supported by a broad network of blockchain and crypto professionals.

Courtside Ventures is a New York-based early-stage venture capital firm founded in 2015 that backs startups operating at the convergence of sports, technology, media, lifestyle, and gaming. It leverages its network of sports and media entrepreneurs and investors to deliver strategic support and ongoing operational guidance, helping management navigate growth across all aspects of the business. The firm focuses on partnering with founders to unlock value through industry connections, domain expertise, and long-term collaboration.

MH Ventures is a venture capital firm focused on Web3, blockchain infrastructure, and decentralized technologies. It operates as a founder-focused, early-stage investor that backs and grows the next generation of open infrastructure and resilient protocols. The firm seeks opportunities across B2B, B2C, energy, financial services, information technology, blockchain, fintech, and software-as-a-service sectors, aiming to accelerate the decentralized future. Its activity includes supporting bold founders and developing on-chain markets, DePIN, and crypto-enabled energy solutions. MH Ventures emphasizes providing strategic guidance and market insights to help portfolio companies launch, scale, and endure in a rapidly changing landscape. The organization presents itself as globally oriented, investing in early-stage ventures that contribute to open, trust-based digital ecosystems.

Momentum 6 is a venture capital and Web3 investment firm founded in 2018 and based in San Francisco. It focuses on cryptocurrency and Web3 technologies, employing a multidisciplinary, research-led approach to identify emerging trends and undervalued opportunities. The firm pursues investments and provides platform development and marketing services to support portfolio companies and help firms achieve global visibility. It also fosters innovation by showcasing new talent within the Web3 ecosystem and assisting firms in expanding their international reach.

Mechanism Capital is a venture capital firm that invests in the cryptocurrency industry, with a focus on early-stage blockchain technologies and decentralized finance. The firm concentrates on Web3 and DeFi projects and engages in ongoing research to identify emerging trends such as rollups, liquidity mining, and algorithmic stablecoins. It emphasizes a community-driven approach and seeks to support builders in the crypto space, aiming to advance programmable value and permissionless innovation.

Sequoia Capital is a venture capital firm founded in 1972 and based in Menlo Park, California. It provides capital alongside strategic guidance to a limited number of technology-focused companies across seed, early, and growth stages, supporting product development, company building, and market expansion. The firm emphasizes long-term partnerships with founders and engages across a global footprint, with activity in the United States and internationally in regions such as China, India, and Israel.

IDG Capital is a global venture capital and private equity firm with a 30-year track record, headquartered in Hong Kong and active across Asia and beyond. The firm invests across stages, including venture, growth, buyouts, and private equity, and focuses on sectors such as consumer, technology, healthcare, finance, and related fields. It builds value through a wide international network, hands-on support for portfolio companies, and strategic partnerships that enable geographic expansion, product development, and scale. IDG Capital emphasizes long-term partnerships with founders and management teams, leveraging experience in mergers and acquisitions, secondary markets, and public investments to support companies throughout their lifecycle. The firm operates across multiple markets with a diverse portfolio and a history of notable exits, reflecting its global reach and emphasis on sustainable growth.

The Raine Group is a global integrated merchant bank and growth equity firm based in New York, with offices in San Francisco, Los Angeles, Hong Kong, London, Mumbai, Paris, Shanghai and Singapore. It provides advisory services for mergers and acquisitions, capital raising and strategic counsel, and pursues investments across growth equity and venture capital in technology, media, sports, entertainment, gaming, advertising, commerce and related sectors. The firm leverages a global network and industry expertise to support both established companies and startups in pursuing transformative growth amid globalization and rapid technological change, and it manages approximately $2.8 billion in assets under management.

NGC Ventures is a Singapore-based venture capital firm founded in 2017 that invests in blockchain, artificial intelligence, fintech, and Web 3.0 infrastructure. It focuses on decentralized technologies and related applications, supporting a diversified portfolio of startups across early-stage and growth rounds and aiming to advance the development and adoption of decentralized ecosystems.

P2 Ventures is a venture capital firm founded in 2022 and based in Tortola, British Virgin Islands. It concentrates on early-stage Web3 startups, with a focus on the multichain ecosystem, providing 360-degree support across operations, technology, distribution, and strategic partnerships to help founders scale. Its investment thesis centers on the financial layer of the internet and the evolution of Web3 toward openness, security, and the use of blockchain in emerging markets. The firm emphasizes collaboration and facilitation of strategic introductions within the Web3 space and has a portfolio that includes Polygon, Spindl, and Laguna Games.

Index Ventures is a venture capital firm headquartered in London, with operations in San Francisco and Geneva, that funds and supports technology-driven companies across stages from seed to growth. It collaborates with entrepreneurial teams to assess business models, help scale operations, and navigate development and market-entry challenges. The firm provides capital, due diligence, deal structuring, and ongoing strategic guidance to portfolio companies, leveraging a global network of industry relationships to connect founders with customers, partners, and opportunities.

Ludus Ventures is an Istanbul-based venture firm established in 2021 that invests in early-stage gaming startups and game-tech companies across Turkey. The firm focuses on mobile, casual and midcore gaming segments and broader game technology and emerging categories, providing hands-on support, strategic guidance, and in-house expertise. It embraces a venture studio approach in Turkey, leveraging a team of operators, investors, and specialists to assist portfolio companies from funding through growth. Ludus positions itself as founder-friendly and actively pursues new opportunities within the gaming ecosystem, including AI technology and game publishing platforms.

Arbitrum Gaming Ventures is an investment firm focused on accelerating the growth of blockchain gaming, entertainment, and culture startups, with a particular emphasis on ventures building on the Arbitrum ecosystem. It backs teams developing innovative experiences across Web3-enabled gaming, metaverse, digital collectibles, prediction markets, generative AI platforms, and no-code growth tools, aiming to expand user engagement and open new distribution models. The firm seeks new projects to join its portfolio and shares insights on industry trends through publishing and podcasts to inform the space. It supports creators and seeks to shape the future of interactive entertainment at the intersection of Web3 and culture.

Goodwater Capital is a Burlingame, California-based venture capital firm founded in 2014 that makes early-stage investments in consumer technology companies worldwide. It pursues opportunities across sectors including consumer technology, healthcare, education, housing and transportation, and fintech and e-commerce, with a belief in the power of technology to improve lives. The firm backs exceptional entrepreneurs aiming to create meaningful change, and its portfolio includes Zepto, Weee!, Toss, and Monzo.

Mirana is an investment firm focused on Web3 technologies and new financial infrastructure, providing investment, legal and advisory services. It invests globally in information technology and blockchain companies at both early and growth stages, with typical commitments up to $20 million. The firm's thesis centers on the convergence of information and money through blockchain and artificial intelligence to create real-time, globally programmable financial systems. Mirana seeks to facilitate collaboration between portfolio companies and established players across traditional finance, centralized finance and decentralized finance, and to connect capital and talent between East and West. It also pursues opportunities in programmable money, tokenized capital markets, open infrastructure and liquidity support, and publishes research on stablecoins, identity and privacy and embedded finance to inform its investments.

ZBS Capital is a venture capital firm focused on backing early‑stage Web3 and cryptocurrency startups. Originating from the CryptoDiffer media channel, the firm blends investment activity with media expertise and industry connections to help blockchain projects grow. It operates with a global team experienced in blockchain development, marketing, and finance, and seeks opportunities across sectors such as blockchain infrastructure, market analytics, and token research. ZBS Capital emphasizes building a decentralized world by leveraging its network of venture partners, blockchain companies, and industry thought leaders to provide capital and strategic guidance to portfolio companies. The firm positions itself as a partner for startups, offering finance and advisory support to accelerate development and adoption of Web3 ventures.

Brinc is a global venture accelerator and early-stage investor headquartered in Hong Kong. It operates multidisciplinary accelerator programs across several countries, focusing on blockchain, artificial intelligence, hardware and IoT, climate tech, food tech, and related technologies to help startups scale. Brinc partners with corporations, governments, and institutions to source and support innovative startups, develop distributed innovation strategies, and build Web3-enabled ventures. The company provides founders with resources such as training, mentorship networks, and online tools, and maintains a broad ecosystem through collaborations and co-investment opportunities, with recent expansion into North America and strategic ecosystem initiatives.

Pantera Capital is a San Francisco-based investment firm focused exclusively on blockchain technology, Bitcoin and other digital currencies, and related companies. Founded in 2003 by Dan Morehead, the firm shifted from macro hedge fund investing to crypto-focused opportunities and has grown into an institutional asset manager with about 3.5 billion in assets under management, deploying capital across venture equity, early-stage tokens, and liquid token investments.

Morningstar Ventures is a proprietary investment firm based in Dubai that focuses on digital assets and blockchain technology. It invests in early-stage ventures across Web3 sectors such as DeFi, NFTs, gaming, metaverse, infrastructure, and AI, pursuing both token and equity opportunities. The firm operates a portfolio of subsidiary projects, including the 37xDubai Web3 space and HQ, MSV Studio for consulting, Atlas Technologies, and MSV GG, and it aims to connect Web3 founders, investors, and creators through events to build a community of specialists. Led by founder and chief investment officer Danilo S. Carlucci, Morningstar Ventures has supported initiatives such as the Elrond Dubai Incubator, launched in 2021 to assist projects building with Elrond technology, reflecting a focus on the Elrond ecosystem. The organization emphasizes exploration and innovation within the crypto ecosystem and maintains a broad involvement across infrastructure, gaming, DeFi, metaverse, and real-world asset ventures.

LvlUp Ventures is a multi-stage venture capital firm investing in and supporting hundreds of startups globally from pre-seed through Series B, across industries. It operates an extended-team ecosystem, deep corporate partnerships, and a technology backbone that creates synergies among portfolio companies at scale. Beyond equity investments, the firm offers non-dilutive financing options and hands-on support through accelerators, a VC-in-Residence program, and other initiatives to help founders scale. It provides capital, guidance, and access to a broad network of investors and corporate partners to accelerate growth.

TIRTA Ventures is a New York-based early-stage venture capital firm investing in interactive AI, digital experiences, and platform ecosystems. It backs startups building AI-native platforms, creator tools, and AI-powered digital economies that reshape participation, creation, and monetization in digital worlds. The team comprises veterans from technology and gaming with experience building and scaling major franchises and ecosystems at firms such as Tencent and Take-Two, and provides capital together with hands-on operational support, strategic guidance, and a global network to help portfolio companies grow. Notable portfolio companies include Nunu AI, k-ID, and Leonardo.AI.

Kima Ventures is a venture capital firm and active early-stage investor headquartered in Paris with an office in London. It funds startups from seed to Series A, often acting as lead investor while also collaborating with other backers, and has backed more than 400 startups across 24 countries in the last five years. The firm provides founders with capital, a practical network, and hands-on support to accelerate growth, helping them build strong teams, learn quickly, and maintain focus on execution. It aims to streamline fundraising so entrepreneurs can return to building their business, and positions itself as a network of founders and experts that shares a pay-it-forward mindset. The company was founded and backed by Xavier Niel, a notable entrepreneur who supports the European startup ecosystem.

Big Brain Holdings is a venture capital firm founded in 2021 and based in Weston, Florida. It pursues multi-stage investments in technology companies at the frontier of innovation, with emphasis on artificial intelligence, robotics, crypto and blockchain, decentralized computing, consumer deeptech, fintech, gaming, and web3, including projects in the Solana ecosystem. The firm supports visionary founders with long-term positions and maintains a global footprint across multiple countries, reflecting an international, technology-focused approach to portfolio building.

SOSV is a global venture capital firm focused on deep-tech investments with an emphasis on ventures addressing human and planetary health. Based in Princeton, New Jersey, it supports startups from pre-seed to growth stages through extensive founder resources and accelerator-style programs that provide access to labs, offices, engineering teams, expert networks, and mentorship to accelerate product development, testing, commercialization, and fundraising. The firm operates dedicated deep-tech facilities, including SOSV SF & NY (IndieBio) and HAX in Newark, and maintains regional activity in San Francisco, New York, Newark, and Princeton. With a portfolio spanning hundreds of companies across multiple countries, SOSV seeks co-investors to join its global network and help scale portfolio companies.

SV Angel is a San Francisco–based venture capital and angel investment firm that backs seed to early-stage technology companies across the United States. It focuses on sectors such as enterprise software, consumer technology, fintech, AI, and information technology, offering business development, financing, M&A guidance, and strategic introductions through its extensive network to help founders navigate fundraising, growth, and key hires. The firm emphasizes a founder-friendly, long-term mentorship approach grounded in execution, advocacy, and ethical conduct, with an emphasis on supporting the founder’s well-being and building a strong ecosystem by reducing friction and connecting entrepreneurs with capital, customers, and partners.

Velo Partners is a London-based venture capital firm that concentrates on the gaming and gambling sectors. The firm pursues early-stage investments across a global portfolio, spanning mobile gaming, online and land-based gambling, real-money and social gaming, as well as business-to-business and business-to-consumer models. It seeks to identify and nurture innovative businesses operating in mobile, i-gaming and related spaces, providing support to help portfolio companies scale and grow within the evolving gaming landscape. Velo Partners emphasizes a global reach, investing across diverse assets and business models to advance growth in this sector.

Lerer Hippeau is a New York-based venture capital firm focused on early-stage investments. Founded in 2010, it backs startups across sectors including fintech, blockchain, food and beverage, hardware and robotics, healthcare, marketing services, media and entertainment, and logistics, providing capital and strategic guidance to help founders turn ideas into lasting companies. The firm maintains a broad portfolio of enterprise and consumer companies, including Guideline, K Health, Allbirds, ZenBusiness, Thrive, and others, and has an active presence in the New York City ecosystem, supporting portfolio companies from seed through growth stages.

Initial Capital is a London-based venture capital firm that backs seed and early-stage technology companies, with a focus on games, social media, digital, mobile, information technology and consumer services, and technology enablers. The firm invests its own capital and actively partners with entrepreneurial teams to build global category winners, offering support across product development, technology, recruitment and growth. It operates internationally, with a base in London and an additional office in South San Francisco, reflecting engagement in Europe and the United States. By leveraging the founders’ experience as serial entrepreneurs, Initial Capital emphasizes hands-on collaboration to help startups navigate fundraising, product-market fit and scaling, rather than providing capital alone.