Canonical Crypto

Canonical Crypto is a San Francisco-based venture capital firm established in 2022, specializing in early-stage investments within the Web3 ecosystem. Co-founded by Howard Wu and Tekin Salimi, the firm has rapidly positioned itself as a significant player in the blockchain and cryptocurrency space. Its investment thesis centers on supporting foundational technologies, decentralized finance (DeFi), and developer tools that underpin the next generation of the internet, aiming to back ventures that promise to drive significant advancements in the Web3 landscape.

The firm primarily targets pre-seed, seed, and select Series A rounds, demonstrating a commitment to nurturing nascent projects from their earliest stages. Canonical Crypto is known for its hands-on approach, leveraging the deep technical expertise of its founders and team to provide strategic guidance to portfolio companies. They seek out innovative solutions in areas such as blockchain infrastructure, scaling solutions, and new decentralized applications, with a focus on long-term impact and sustainable growth within the decentralized web.

Canonical Crypto has successfully raised two dedicated funds since its inception. Their inaugural fund, announced in May 2022, secured $20 million to deploy into promising Web3 startups. Building on this momentum, the firm closed its second fund in November 2023, raising an additional $30 million, bringing their total capital under management to $50 million. For their initial investments, Canonical Crypto typically writes checks ranging from $500,000 to $1.5 million, providing crucial early capital for founders building transformative technologies in the decentralized web.