Coinbase Ventures

Coinbase Ventures is the strategic investment arm of Coinbase, investing in crypto and Web3 startups building the future of finance. With $10M+ per investment capacity and over 400 portfolio companies, they focus on infrastructure, DeFi, developer tooling, and applications that advance the crypto ecosystem.

For ZHC builders, Coinbase Ventures offers more than capital – portfolio companies get access to Coinbase's 100M+ verified users, technical infrastructure, regulatory expertise, and deep connections across the crypto industry. They're known for long-term thinking and supporting founders through market cycles.

2025/2026 Investment Focus

Coinbase Ventures has published their priority areas for 2026, representing the frontier of crypto innovation:

Asset Tokenization & RWA

• RWA Perpetuals - Synthetic exposure to real-world assets through perpetual futures contracts, enabling "perpification" of everything from private companies to economic data
• Macro Asset Exposure - Instruments tied to oil, inflation, credit spreads, and volatility for sophisticated onchain traders
• Exotic Asset Markets - Perpetuals for assets that don't require securing underlying collateral

Specialized Exchanges & Trading Infrastructure

• Prop-AMMs - Advanced market structure protecting liquidity providers from toxic flow
• Prediction Market Aggregators - Unified trading terminals consolidating $600M+ in fragmented liquidity across prediction markets
• Professional Trading Tools - Advanced order types, multi-venue routing, cross-venue arbitrage insights

Next-Gen DeFi

• Perp Markets Composability - Integration of perpetual futures with lending protocols for enhanced capital efficiency (perp DEX volumes hit $1.4T monthly, +300% YoY)
• Unsecured Lending/Credit - Breakthrough models blending onchain reputation with offchain data to unlock unsecured lending at scale (U.S. has $1.3T in revolving unsecured credit)
• Onchain Privacy - Privacy-preserving assets and DeFi applications using ZKPs, FHE, MPC, TEEs for verifiable but private transactions

AI & Robotics

• Robotics & Humanoid Data Collection - DePIN-style incentivized data collection for training robotic and embodied AI systems
• Proof of Humanity - Biometric and cryptographic solutions establishing human provenance vs AI-generated content
• AI Agents Onchain - Autonomous agents with wallets conducting economic activity on crypto infrastructure

Core Strength Areas

• Layer 1 protocols and scaling solutions
• Cross-chain interoperability
• Stablecoin infrastructure and payments
• Developer tools and infrastructure
• Consumer applications (wallets, social, gaming)
• Institutional crypto infrastructure

Investment Focus

Stage Preferences:

• Seed to Series B
• Post-product with some traction preferred
• Strong technical team essential
• Clear crypto/Web3 use case required

Sector Focus:

• Crypto infrastructure - Layer 1s, Layer 2s, interoperability, scaling solutions
• DeFi protocols - Lending, DEXs, derivatives, yield, perpetuals, unsecured credit
• Developer tooling - Infrastructure, security, oracles, privacy tools
• Consumer applications - Wallets, social, gaming, prediction markets
• Institutional crypto - Custody, trading, prime brokerage, stablecoin infrastructure
• AI + Crypto - Onchain AI agents, proof of humanity, robotics data
• RWA & Tokenization - Real-world asset exposure, asset tokenization platforms

Investment Size:

• Seed: $500K-$2M
• Series A: $2M-$10M
• Growth: $10M+
• Lead or co-invest depending on round

ZHC-Specific Fit

✅ Excellent for:

• DeFi protocols and automation
• Infrastructure for onchain agents
• Developer tools for crypto builders
• Cross-chain and interoperability solutions
• Products that could integrate with Coinbase's 100M+ users
• AI agents with crypto wallets and economic activity
• Prediction markets and trading infrastructure
• Privacy-preserving DeFi applications

❌ Poor fit if:

• No blockchain/crypto component
• Pure Web2 without token integration
• Very early stage (pre-product)
• No technical team or prototype

Geographic Scope

• Global investment focus
• Strong presence in US, Europe, Asia
• Portfolio companies in 50+ countries
• Remote-friendly investment approach

Investment Process

Step	Timeline	Details
Warm intro	–	Via portfolio founders, accelerators, or mutual connections (highly preferred)
Initial screen	1-2 weeks	Team and opportunity assessment
Deep dive	2-3 weeks	Technical, market, and regulatory review
Partnership alignment	1-2 weeks	Strategic fit with Coinbase ecosystem
Investment committee	1 week	Final decision
Close	2-4 weeks	Legal and funding

Total timeline: Typically 6-10 weeks from first meeting to close

How to Apply

1. Best Path - Warm Introduction:

   • Portfolio founder referral (strongest)
   • Y Combinator, a16z crypto, or other accelerator connection
   • Mutual connection in crypto ecosystem
   • DM on Twitter/X: @CoinbaseVentures

2. Direct Outreach:

   • Email: ventures@coinbase.com
   • Twitter/X: @CoinbaseVentures
   • Portfolio company introductions

3. Application Materials:

   • Pitch deck (10-15 slides)
   • Product demo or MVP
   • Technical whitepaper (if applicable)
   • Team background and GitHub profiles
   • Traction metrics (users, TVL, volume, etc.)
   • Fundraising details (round size, current commitments)

Strategic Value Beyond Capital

Network & Distribution:

• Access to 100M+ verified Coinbase users
• Introduction to 400+ portfolio companies
• Distribution partnerships with Coinbase products
• Listing consideration for tokens (no guarantees)

Technical Support:

• Coinbase engineering and product team access
• Technical infrastructure guidance
• Security best practices and audit support
• Base blockchain integration support

Business Development:

• Regulatory and compliance guidance
• Market intelligence and research
• Recruiting assistance (crypto talent network)
• Brand association with Coinbase

Institutional Relationships:

• Introductions to institutional investors
• Corporate partnership opportunities
• Exchange and liquidity provider connections

• Coinbase Ventures Website
• Portfolio Companies
• Coinbase Ventures Blog
• 2026 Investment Priorities
• Email: ventures@coinbase.com
• Twitter/X: @CoinbaseVentures
• LinkedIn
• Subscribe to insights: Coinbase Ventures Newsletter

Portfolio Highlights

Infrastructure & Scaling:

• Arbitrum (Offchain Labs) - L2 scaling platform
• Optimism - Optimistic rollup L2
• Starkware - ZK rollup technology
• EigenLayer - Restaking protocol
• Base - Coinbase's L2 (incubated)

DeFi:

• Uniswap - Leading DEX
• Aave - Lending protocol
• Compound - Money markets
• dYdX - Derivatives platform
• Hyperliquid - Perpetuals exchange

Developer Tools:

• Etherscan - Blockchain explorer
• Alchemy - Web3 developer platform
• Fireblocks - Institutional custody
• Blockdaemon - Node infrastructure

Consumer & Social:

• Farcaster - Decentralized social network
• Magic Eden - NFT marketplace
• OpenSea - NFT marketplace leader
• Rainbow - Mobile wallet
• MetaMask (ConsenSys portfolio)

Data & Analytics:

• Dune - Multichain data analytics
• Messari - Crypto research
• Nansen - Onchain analytics

Key Team Members

• Shan Aggarwal - VP, Corporate & Business Development
• Jonathan King (@jonathankingvc) - Investor, focus on prediction markets
• Kinji Steimetz (@kinjisteimetz) - Investor, focus on trading infrastructure
• Ethan Oak (@0xNoroc) - Investor, focus on DeFi

Recent Activity (2025/2026)

• Published comprehensive 2026 investment thesis (November 2025)
• Active in prediction market infrastructure investments
• Focus on AI + crypto convergence
• Supporting Base ecosystem growth through Echo group lead
• Emphasis on institutional crypto infrastructure
• RWA perpetuals and tokenization initiatives