Formless Capital

Formless Capital is a San Francisco-based venture capital firm established in 2021, specializing in cross-border investments within the burgeoning blockchain and Web3 technology sectors. The firm positions itself as a key investor in the foundational layers of the decentralized internet, focusing on areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), metaverse infrastructure, and core blockchain protocols. Their investment strategy is centered on identifying and supporting innovative projects that aim to reshape digital interactions and ownership.

Formless Capital has rapidly built a high-profile portfolio, demonstrating a keen eye for projects that have garnered significant industry attention and substantial follow-on funding. Notable investments include prominent names like Mysten Labs, Aptos, Immutable, Scroll, and LayerZero, among others. These investments underscore their commitment to backing projects that are building critical infrastructure and applications for the next generation of the internet. Their participation in large funding rounds, such as Aptos' $150 million Series A, highlights their capacity to contribute meaningfully to significant capital raises.

The firm typically engages with companies across various early to growth stages, from seed rounds through Series B. While they often participate alongside other leading venture firms, Formless Capital aims to provide strategic value beyond just capital, leveraging their deep industry insights and network. Their typical first check size ranges from approximately $500,000 to $5,000,000, depending on the stage, valuation, and specific needs of the venture. As of mid-2022, Formless Capital was reported to be raising a $100 million fund, indicating their ambition to deploy substantial capital into the Web3 ecosystem.

Formless Capital's approach emphasizes long-term partnerships with founders, providing support as projects scale and navigate the complexities of the blockchain landscape. Their focus on foundational technologies and their ability to identify high-potential ventures early on positions them as a significant player in the evolving digital economy.