Multicoin Capital
Fund snapshot
- Lookout tier
- Tier 1
- Lookout score
- 88/100
- AUM
- $3B
- Vintage
- 2017
- Check size
- $500K – $25M
- Stage
- Seed, Series A
- Role
- Leads rounds
Lookout's read
How Lookout reads this fund.
DePIN pioneers who extended the playbook into AI × Crypto. Their public memos are required reading — few funds articulate a thesis as cleanly. Strong on data + agent infrastructure. The watch item is whether their next inference bet lands as well as Helium did for DePIN.
Research Coverage
Lookout profiles this fund based on publicly available information. This does not constitute an endorsement or a commercial relationship.
Fund thesis
What they back.
Concentrated, non-consensus, thesis-driven bets on category-defining protocols — research published openly, long-term conviction across execution layers, DePIN, payments, and Solana-native infra.
Portfolio
Notable bets · 6
6 with realized tokens or exits
Solana
Helium
Render Network
io.net
Hivemapper
The Graph
In their orbit
Deals Lookout covers.
Akash Network
Lookout-flagged fit.
Masa Network
Lookout-flagged fit.
Virtuals Protocol
Lookout-flagged fit.
OpenMind
Lookout-flagged fit.
GAME by Virtuals
Lookout-flagged fit.
FrodoBots
Lookout-flagged fit.
Coinbase x402
Lookout-flagged fit.
Vana
Lookout-flagged fit.
Render Network
Portfolio company.
AIxBT
Lookout-flagged fit.
Nimble Network
Lookout-flagged fit.
Olas Network
Lookout-flagged fit.
Aethir
Lookout-flagged fit.
Allora Network
Lookout-flagged fit.
io.net
Portfolio company.
Pond
Lookout-flagged fit.
ai16z / ElizaOS
Lookout-flagged fit.
Team
Who runs the capital.
Tushar Jain
@TusharJain_Co-Founder / Managing Partner
Co-founded Multicoin in 2017; now leads the firm after Kyle Samani's Feb 2026 step-back.
Kyle Samani
@KyleSamaniCo-Founder (stepped back 2026)
Co-founded Multicoin; prominent Solana advocate; stepped down as MP in Feb 2026.
Spencer Applebaum
Partner
Investing partner focused on DePIN and infrastructure.
Co-investors
Who they ride with.
Facts public-source · tier & read are Lookout judgment · profile updates continuously