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Corporate Venture
ventures.coinbase.com

Investments

265

Portfolio Exits

6

Funds

1

About Coinbase Ventures

Launched in April 2018, Coinbase Ventures provides financing to early-stage cryptocurrency and blockchain startups with a focus on building out the crypto ecosystem. It does not have any strategic requirement to formalize a partnership with investments. They look to invest in companies by Coinbase alumni. Coinbase Ventures does not offer favored asset status to any companies they invest in.

Headquarters Location

548 Market Street #23008

San Francisco, California, 94104,

United States

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CB Insights Intelligence Analysts have mentioned Coinbase Ventures in 21 CB Insights research briefs, most recently on Nov 17, 2022.

Latest Coinbase Ventures News

Crypto tax unicorn CoinTracker lays off 19 employees, citing industry gloom, ‘over-hiring’

Jan 27, 2023

Crypto tax unicorn CoinTracker lays off 19 employees, citing industry gloom, 'over-hiring' ✕ Crypto tax unicorn CoinTracker lays off 19 employees, citing industry gloom, 'over-hiring' Quick Take CoinTracker laid off 19 people, citing market headwinds and “over-hiring,” according to an internal email seen by The Block. The move comes amid swathes of layoffs in the tech industry. Crypto tax unicorn CoinTracker laid off about a fifth of its staff due to market conditions. A total of 19 employees were let go from the San Francisco-headquartered crypto tax company as its leadership cited headwinds from crypto winter alongside bringing on too many people, according to an email sent to workers that was seen by The Block. "Today we are confronted by the crypto winter, an unstable economy with high inflation and rising interest rates, and additional headwinds with crypto tax regulations," co-founder and CEO Jon Lerner said in the Jan. 26 letter. "This is a very different environment than we experienced from mid-2020 to mid-2022. Our expectations for 2023 are different than anticipated in the past year." A company spokesperson confirmed the layoffs in an email and said that 15 of the 19 who were let go were in the customer support team. "Before considering letting go of team members, we had systematically optimized all other costs," the company said. Figures from LinkedIn and DealRoom suggest CoinTracker had roughly 100 employees before the cuts. Equity Cliff CoinTracker offered affected employees 12 weeks of pay, three months healthcare coverage for U.S.-based employees and a removal of the equity cliff meaning that anyone departing can remain a shareholder. They'll also be allowed to keep their laptops "Today is a difficult day, but we continue to believe we have the right foundation and assets to make a foundational product in crypto," Lerner said in the letter. CoinTracker had been valued at $1.3 billion this time last year after it raised an $100 million Series A round backed by Accel, Y Combinator, Coinbase Ventures, Seven Seven Six and Kraken Ventures, among others. Although not on the same scale as layoffs at Coinbase, the sentiment echoes that of CEO and co-founder Brian Armstrong in a letter to employees sent in June . "While we tried our best to get this just right, in this case it is now clear to me that we over-hired," wrote Armstrong. Earlier this week it was revealed DCG-owned crypto exchange Luno would cut 35% of its staff. Coinbase also announced another round of layoffs earlier in January , cutting 950 jobs, or 20% of its headcount. Crypto.com also said it would undertake a 20% headcount cut the same week. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Sign up for our daily Newsletters Also receive our FREE weekly Data & Insights Newsletter

Coinbase Ventures Investments

265 Investments

Coinbase Ventures has made 265 investments. Their latest investment was in Architect as part of their Seed VC on January 1, 2023.

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Coinbase Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/20/2023

Seed VC

Architect

$5M

Yes

10

1/18/2023

Series A

Obol Technologies

$12.5M

No

3

1/12/2023

Seed VC

Alkimiya

$7.2M

Yes

1

1/11/2023

Seed VC

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10

1/5/2023

Seed VC

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$99M

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10

Date

1/20/2023

1/18/2023

1/12/2023

1/11/2023

1/5/2023

Round

Seed VC

Series A

Seed VC

Seed VC

Seed VC

Company

Architect

Obol Technologies

Alkimiya

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Amount

$5M

$12.5M

$7.2M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

10

3

1

10

10

Coinbase Ventures Portfolio Exits

6 Portfolio Exits

Coinbase Ventures has 6 portfolio exits. Their latest portfolio exit was Tactic on January 17, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/17/2023

Acquired

$99M

6

7/5/2022

Acquired

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$99M

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10

1/18/2022

Acquired

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$99M

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10

12/21/2021

Acquired

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$99M

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10

3/8/2021

Acquired

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$99M

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10

Date

1/17/2023

7/5/2022

1/18/2022

12/21/2021

3/8/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

10

10

10

10

Coinbase Ventures Fund History

1 Fund History

Coinbase Ventures has 1 fund, including Coinbase Venture Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/6/2018

Coinbase Venture Fund

2

Closing Date

4/6/2018

Fund

Coinbase Venture Fund

Fund Type

Status

Amount

Sources

2

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