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Protocol Ventures company logo
Venture Capital
FINANCE | Investment Firms & Funds
protocolventures.com

Investments

7

Portfolio Exits

1

Funds

1

About Protocol Ventures

Protocol Ventures ceased operations in November 2022. It is a fund of funds focused on hedge funds that invest exclusively in crypto assets and initial coin offerings (ICOs). It aligns with fund managers who have a technical understanding of blockchain technology, an asymmetric understanding and vision for the space, leaders with networks around the globe, a value-add approach to supporting the growth of the ecosystem, and a clear and differentiated investment thesis. Protocol invests in funds from the crypto space based on a combination of past and expected performance, quality of fund management, and complimentary fund strategies to offer investors diversification through a single investment in the fund. It was founded in 2017 and is based in San Francisco, California.

Headquarters Location

665 3rd Street

San Francisco, California,

United States

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Latest Protocol Ventures News

Crypto fund-of-funds Protocol Ventures is shutting down: Bloomberg

Nov 3, 2022

Protocol Ventures reportedly invested in the likes of Multicoin Capital, Pantera Capital and Electric Capital. Protocol Ventures, a crypto fund of funds that invested in the likes of Multicoin Capital, Pantera Capital and Electric Capital, is reportedly shutting up shop. Bloomberg reported the news on Thursday, citing unnamed people familiar with the matter. The shuttering is expected by the end of this year or the first quarter of next year, per the report. Protocol Ventures reportedly sent notices to investors at the end of October about the move. Protocol Ventures was founded in 2017 by serial entrepreneur and venture capitalist Rick Marini, reportedly as the first-ever fund-of-funds for cryptocurrencies. The fund had started with $1 million of Marini's own money and it had hoped to raise $100 million at the time. Investors in Protocol's fund-of-funds may have lost as much as 90% over the past year, according to the Bloomberg report. Protocol Ventures did not immediately respond to The Block's request for comment. The fund's closure comes amid the so-called crypto winter. The market capitalization of the crypto sector globally has fallen to around $1 trillion from over $3 trillion a year ago, according to data tracked by CoinGecko. Several crypto companies have faced financial difficulty and bankruptcy, including Three Arrows Capital , Celsius , Voyager , Zipmex , Vauld , Hodlnaut and Core Scientific. © 2022 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

Protocol Ventures Investments

7 Investments

Protocol Ventures has made 7 investments. Their latest investment was in Ojamu as part of their Seed VC on October 03, 2021.

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Protocol Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/3/2021

Seed VC

Ojamu

$1.7M

Yes

4

9/17/2021

Series A

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$99M

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10

5/25/2021

Seed VC

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$99M

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10

5/20/2021

Series A

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$99M

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10

5/10/2021

Seed VC

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$99M

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10

Date

10/3/2021

9/17/2021

5/25/2021

5/20/2021

5/10/2021

Round

Seed VC

Series A

Seed VC

Series A

Seed VC

Company

Ojamu

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Amount

$1.7M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

4

10

10

10

10

Protocol Ventures Portfolio Exits

1 Portfolio Exit

Protocol Ventures has 1 portfolio exit. Their latest portfolio exit was Bakkt on October 15, 2021.

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

10/15/2021

Reverse Merger

$99M

11

Date

10/15/2021

Exit

Reverse Merger

Companies

Valuation

$99M

Acquirer

Sources

11

Protocol Ventures Fund History

1 Fund History

Protocol Ventures has 1 fund, including Protocol Ventures Fund I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Protocol Ventures Fund I

1

Closing Date

Fund

Protocol Ventures Fund I

Fund Type

Status

Amount

Sources

1

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