A trading firm and a lab.

V1 CURRENT

Bactrian runs a single balance sheet across three operations: a proprietary fund, a market-making desk, and a product lab. Each one builds what the next one trades on.

01 Proprietary investing Discretionary and systematic strategies in digital-asset and secondary markets, on proprietary execution infrastructure.
02 Market making Two-sided liquidity in digital assets — continuous pricing across 20+ centralized and decentralized venues.
03 The lab Market infrastructure, trading systems, and AI-native products — incubated and operated in-house.
V0 PRIOR

Our team previously invested at venture funds across frontier technology and crypto — seed rounds through secondaries.

1Money
1MoneySTABLECOIN · PAYMENTSLicensed platform for businesses to receive, custody, convert, and send stablecoins and fiat.
Anichess
AnichessGAMING · WEB3Free-to-play chess variant adding spell mechanics and onchain assets.
Aspecta
AspectaLIQUIDITY · INFRASTRUCTUREAttestation and price-discovery layer for pre-TGE shares and locked tokens.
Bankless Ventures
Bankless VenturesSEED · VENTUREEarly-stage Web3 venture fund affiliated with the Bankless media platform.
Berachain
BerachainL1 · BLOCKCHAINEVM-identical Layer 1 using Proof-of-Liquidity to align validators and liquidity providers.
Bless
BlessCOMPUTE · DEPINDecentralized edge compute network aggregating idle CPU and GPU capacity.
CARV
CARVAI · INFRASTRUCTUREIdentity and data infrastructure for autonomous AI agents.
dappOSdappOS
dappOSINTENT · INFRASTRUCTUREIntent execution network abstracting cross-chain operations into single signed intents.
double jump.tokyo
double jump.tokyoGAMING · STUDIOJapanese web3 game developer behind My Crypto Heroes and SEGA's SG Verse chain.
Figment Capital
Figment CapitalINFRA · VENTUREWeb3 fund backing blockchain infrastructure, on-chain markets, and consumer applications.
FlashbotsFlashbots
FlashbotsMEV · INFRASTRUCTURER&D organization mitigating the negative externalities of MEV on Ethereum.
Hack VC
Hack VCCRYPTO · VENTUREThesis-driven early-stage venture firm backing crypto, AI, and frontier technology.
HibachiHibachi
HibachiDERIVATIVES · EXCHANGEDecentralized perpetual futures exchange using zero-knowledge proofs.
Manta Network
Manta NetworkZK · INFRASTRUCTUREModular network for zero-knowledge applications, spanning an L2 and a ZK L1.
Maven 11
Maven 11CRYPTO · FUNDAmsterdam-based crypto-native fund investing across infrastructure and applications.
Moonbirds
MoonbirdsNFT · COLLECTIBLESEthereum profile-picture NFT collection of 10,000 owls.
MYX Finance
MYX FinancePERPETUALS · DEXNon-custodial perpetual futures exchange using a matching pool mechanism.
OnePiece Labs
OnePiece LabsINCUBATOR · STUDIOSilicon Valley incubator running cohort programs for early-stage crypto startups.
Panoptic
PanopticOPTIONS · DEFIPerpetual options protocol built on Uniswap liquidity, with no expiries or oracles.
Reforge
ReforgeCRYPTO · VENTUREEarly-stage venture firm investing across capital markets, verification, and compute.
Solv Protocol
Solv ProtocolBITCOIN · DEFIBitcoin reserve protocol issuing SolvBTC, a yield-bearing Bitcoin token.
UsualUsual
UsualSTABLECOIN · PROTOCOLIssuer of USD0, a stablecoin collateralized by tokenized US Treasury bills.
zkPass
zkPassZK · IDENTITYZero-knowledge protocol for proving private web data without exposing records.
+ 30 OTHERS
Selected investments by Bactrian's founding team at prior funds. Shown alphabetically; full record available to verified counterparties.