Fenbushi Capital

Fenbushi Capital is a prominent venture capital firm based in Shanghai, China, established in 2015. It is recognized as the first and most active venture capital firm in Asia focused on blockchain technology. Founded by experienced professionals from both blockchain and traditional financial sectors, Fenbushi Capital has supported over 80 leading projects across four continents. The firm invests in companies that leverage blockchain to transform various industries, including finance, healthcare, supply chain, and consumer goods. Fenbushi Capital is dedicated to fostering healthy and sustainable growth within the global blockchain ecosystem and serves as a long-term strategic partner to its portfolio companies.

Zhehao (Kobby) Chen

Investment Director

Rin Huang

Partner

Remington Ong

Partner

Shen, Bo

Founding / Managing Partner

Jeffery Xu

Investment Manager

Clarence Zhou

Investment Director

Past deals in Smart Contracts

FLock.io

Venture Round in 2024
FLock enables decentralised and privacy-preserving machine learning, coordinated by smart contracts We work to make user data collection obsolete, and widespread governance participation guaranteed by code we propose to use distributed ledger technology (DLT) to achieve FLock, a secure and reliable decentralized {F}ederated {L}earning system built on B{lock}chain. Or, in plain words, we build TensorFlow Federated (TFF) for Web 3.0

Huma

Venture Round in 2024
Huma operates an on-chain credit platform that facilitates lending to businesses and individuals. By connecting high-performing receivables with global financing, Huma enables clients to access loans secured by tokens as collateral. The platform emphasizes transparency and accessibility, allowing users to tokenize and trade cash flow while leveraging credit on a blockchain system. This innovative approach aims to create a thriving financial ecosystem that enhances the way clients manage their financial resources.

Anichess

Seed Round in 2024
Anichess is a community-driven chess game that incorporates blockchain technology to create a play-and-earn ecosystem. It offers a free-to-play experience enhanced by unique strategic elements, including magical spells. This innovative approach allows players not only to enjoy the game but also to earn cryptocurrencies within Anichess's ecosystem. By blending traditional chess with modern gaming dynamics, Anichess aims to attract both chess enthusiasts and new players interested in the potential of blockchain gaming.

Azuro

Seed Round in 2024
Azuro is a global decentralized betting protocol that leverages smart contracts to enhance transparency in the betting process. By providing a classic betting experience with diverse markets and liquidity, Azuro aims to democratize the betting landscape through innovations such as collectible bets and gamification using NFTs. The protocol facilitates liquidity provision and allocation while enabling front-end management and data provision through oracles. Additionally, it incorporates decentralized governance, allowing the community to manage operations effectively. Azuro is committed to offering an engaging and responsible betting environment with reduced service costs and full transparency.

Shentu Chain

Seed Round in 2024
Shentu Chain is a software company focused on enhancing security and trust in decentralized systems through its blockchain platform. It offers a security infrastructure that helps developers create more secure smart contracts and decentralized applications, thereby preventing attacks on cryptocurrency. By providing critical security insights, Shentu Chain aims to foster a safer environment for blockchain technology and its users.

RISC Zero.

Series A in 2023
RISC Zero provides a platform enabling users to trust programs run anywhere while allowing developers to use the tools they already know. RISC Zero builds scaling solutions using Zero Knowledge Proofs which will make blockchains accessible. The company was founded by a team of Seattle-based hackers committed to enabling users to control their experience on the internet through the creation of privacy-enhancing decentralization technology.

Connext

Series A in 2023
Connext, Inc. is a technology company based in San Francisco, California, founded in 2017 by Arjun Bhuptani, Layne Haber, and Rahul Sethuram. The company specializes in developing software that facilitates the purchase and management of blockchain applications. It offers features such as direct card purchases for tokens, access to existing vaults, decentralized compliance, and walletless signature capabilities. Additionally, Connext operates as an interoperability protocol, enabling fast and trustless communication between different blockchains. This innovation supports the creation of a more interconnected blockchain ecosystem.

ChainSafe Systems

Series A in 2022
ChainSafe is a blockchain R&D firm, specializing in protocol engineering, cross-chain interoperability & web3 gaming. Our mission is to enable the world's systems to run on decentralized infrastructure. We take a multi-chain perspective with blockchain engineering experience that spans timezones, cultures, use cases, and protocols. Chainsafe was established in May, 2017 in Toronto, Ontario.

CIAN

Seed Round in 2022
Cian is a automation platform that focuses primarily on liquidity staking token yield opportunities.

double jump.tokyo

Series C in 2022
double jump.tokyo is a blockchain game developer that specializes in providing NFT solutions for large-scale enterprises within the gaming and entertainment sectors. The company focuses on utilizing blockchain technology to transform the gaming industry by offering a comprehensive platform that includes tools and resources for game developers. This platform facilitates the creation of blockchain games through APIs for smart contracts and various systems necessary for development and marketing. By streamlining the process, double jump.tokyo aims to empower developers to easily build and launch innovative gaming experiences.

Zecrey

Angel Round in 2022
Zecrey is a Singapore-based company founded in January 2021 that focuses on enhancing blockchain accessibility for businesses and consumers while prioritizing privacy and security. The company has developed a layer 2 cross-chain protocol utilizing zkRollup technology, which enables secure management, swapping, and bridging of assets across multiple blockchain networks. By leveraging zero-knowledge proofs, Zecrey facilitates private transactions, thereby safeguarding users' ownership of their assets. The protocol aims to lower the barriers to entry in the blockchain space, making it easier for a wider audience to engage with decentralized technologies.

Tiny Rebel Games

Seed Round in 2022
We are Petaverse Network. Our aim is simple but robust - we are building an open standard for digital pets. An interoperable data solution for creating infinite virtual companions to be by your side, across the metaverse. Pets to bond with, who will learn, evolve, and behave based on their specific 'DNA' and the interactions you have with them. Soon, we will be helping people to adopt their first digital pets and take them into the first of many experiences they will be able to have with virtual companion. Embracing the wonders of #web3 we invite partnership with other creators across the metaverse.

Airwaive

Seed Round in 2022
Airwaive is a company that facilitates connections between wireless service providers and property owners, including both residential and commercial spaces. By leveraging blockchain technology, Airwaive aims to decentralize wireless broadband networks, enhancing affordability and accessibility for users. The company assists in the establishment of access points for wireless networks, which supports the development of small cell networks. This approach allows property owners to monetize their land and services by hosting wireless hotspots, thereby generating additional revenue while contributing to improved wireless connectivity in their areas.

The Graph

Venture Round in 2022
The Graph is an indexing protocol designed for querying data from blockchain networks such as Ethereum and IPFS, facilitating the development of decentralized applications (dApps). Developers can create and publish open APIs, known as subgraphs, which can be queried using GraphQL to access blockchain data. Currently, The Graph supports data indexing from Ethereum, IPFS, and POA, with plans to incorporate additional networks. It offers a hosted service to assist developers in building on the platform, while a decentralized network is set to launch soon. As of late 2020, over 3,000 subgraphs had been deployed by thousands of developers for various dApps, including Uniswap, Synthetix, and Decentraland. The Graph has experienced significant growth, with its usage increasing substantially month over month. To support its development, The Graph has raised funding from a broad range of community members and venture capitalists, totaling around $25 million.

BlockSec

Seed Round in 2021
BlockSec is a prominent blockchain security company founded in 2021 by a team of esteemed security scholars and experts based in Hong Kong. The company focuses on enhancing security and usability in the Web3 space to facilitate mass adoption. It has served nearly 300 customers, including notable projects such as MetaMask and Compound, and has identified numerous critical vulnerabilities, successfully preventing over 10 hacking attempts that saved more than 14 million USD in digital assets. BlockSec has developed various security usability products, including Phalcon and MetaSleuth, addressing essential challenges like secure development testing and on-chain monitoring. Additionally, the company offers solutions for online loan detection, anti-money laundering tracking, and smart contract transaction analysis, supporting multiple blockchain networks. With innovative research and robust practical capabilities, BlockSec has gained significant recognition within the industry and has raised substantial funding from prominent investors.

izumi Finance

Series A in 2021
Izumi Finance is a liquidity mining platform that specializes in offering concentrated liquidity services across multiple blockchain networks. The platform features non-homogenous liquidity mining protocols, which allow users to stake Uniswap LP tokens and receive rewards tailored to specific price ranges. By optimizing the distribution of incentives, Izumi Finance aims to enhance the earnings of liquidity providers, thereby improving the overall efficiency of the liquidity mining process.

1inch Labs

Series B in 2021
1inch Labs is a developer of a decentralized finance platform that aggregates multiple decentralized exchanges across various blockchains. Founded in 2019 and based in the United States, the company focuses on enhancing the efficiency of cryptocurrency trading. Its suite of protocols, including the 1inch Aggregation Protocol, 1inch Liquidity Protocol, and 1inch Limit Order Protocol, work together to facilitate cost-effective and secure swap transactions. This integration allows users to access better rates than those available on individual exchanges, thereby optimizing their trading experience in the decentralized finance sector.

Titan

Funding Round in 2021
Titan their software monitors, manages, and optimizes our mining operations at any scale. They are building a smart contract protocol for provable, programmable hashrate, making global mining smarter and more efficient.

WOO Network

Series A in 2021
WOO Network is a trading platform provider focused on delivering above-average liquidity for spot and futures trading while offering zero or negative trading fees. The platform facilitates connections between traders, exchanges, institutions, and decentralized finance (DeFi) platforms, thereby democratizing access to liquidity and trading execution. By prioritizing market efficiency, WOO Network aims to enhance trading experiences for its users, enabling them to achieve optimal market conditions at minimal or no cost.

CoinList

Series A in 2021
CoinList is a leading platform in the digital finance sector, focused on facilitating the launch and growth of innovative digital assets. The company provides a comprehensive token distribution service that connects blockchain projects with potential investors prior to their asset listings on other exchanges. CoinList supports various stages of crypto investment, including token sales, distribution, trading, lending, staking, and access to decentralized finance opportunities. Users can trade and store a wide range of cryptocurrencies, including Bitcoin and Ether, through its mobile app and website, CoinList.co. The platform caters to a diverse clientele, including validators, miners, founders, CEOs, and crypto enthusiasts, ensuring they have access to new tokens and crypto-specific services. CoinList's mission is to be the most trusted brand in digital finance while expanding access for early adopters and fostering innovation within the cryptocurrency ecosystem.

Arcana Network

Venture Round in 2021
Arcana is the Decentralized Storage Layer for Ethereum and EVM chains, with a Privacy Stack for Authentication, Identity and Access Control, Key Management, and End-to-End to encryption. With Arcana's Privacy stack, developers can build secure and privacy-preserving apps.

Fuel Labs

Seed Round in 2021
Fuel Labs is a global decentralized group of passionate developers building the future of blockchain scalability technology. As the leader in blockchain scaling innovation, its engineers created the optimistic rollup design paradigm and have contributed to advancing the frontier of rollup, blockchain virtual machine, and safe smart contract programming language research.

Shiden Network

Venture Round in 2021
Shiden Network is a multi-chain decentralized application layer on Kusama Network.

Enjin

Venture Round in 2021
Enjin is a prominent blockchain project and an early pioneer in the NFT and metaverse space, founded in 2009 by Maxim Blagov and Witek Radomski. The company focuses on providing a comprehensive technology stack that facilitates seamless NFT integration for developers, particularly indie developers who can utilize these tools without requiring extensive blockchain expertise. Enjin is also launching Efinity, a dedicated NFT chain on Polkadot with specialized functions at the protocol level. Its offerings include Enjin Wallet 2.0, which allows games to utilize NFTs efficiently, and Beam, a feature for distributing NFTs through QR codes. Additionally, NFT.io serves as a dedicated marketplace, enhancing the ecosystem of tools and services that help businesses leverage blockchain technology to create virtual economies, engage users, and drive revenue.

Stratos Network

Seed Round in 2021
Stratos is the next generation of decentralized Data Mesh that provides scalable, reliable, self-balanced storage, database, and computation network. Stratos strives to make decentralized data adoption easier for the blockchain industry and Web 3.0. Stratos designs Proof of Traffic consensus to best incentivize all participants in the network to build a sustainable and prosperous decentralized infrastructure.

Efinity

Series A in 2021
Efinity is a cross-chain NFT blockchain that brings non-fungible tokens to everyone. It was developed by Enjin on Polkadot.

O1Labs

Series A in 2020
O1Labs, founded in 2017, is a blockchain technology company specializing in zero-knowledge cryptography and innovative cryptographic solutions. The company is recognized for its development of the Mina Protocol, which is the first lightweight, scalable, and decentralized blockchain utilizing zero-knowledge proofs. Additionally, O1Labs created o1js, an intuitive framework aimed at simplifying the development of applications using zero-knowledge technology. By enhancing blockchain accessibility, O1Labs provides developers with the tools needed to create user-friendly cryptocurrency applications that operate seamlessly in web browsers. The company's mission is to foster a new generation of applications driven by zero-knowledge cryptography.

WOO Network

Seed Round in 2020
WOO Network is a trading platform provider focused on delivering above-average liquidity for spot and futures trading while offering zero or negative trading fees. The platform facilitates connections between traders, exchanges, institutions, and decentralized finance (DeFi) platforms, thereby democratizing access to liquidity and trading execution. By prioritizing market efficiency, WOO Network aims to enhance trading experiences for its users, enabling them to achieve optimal market conditions at minimal or no cost.

ChainSafe Systems

Seed Round in 2020
ChainSafe is a blockchain R&D firm, specializing in protocol engineering, cross-chain interoperability & web3 gaming. Our mission is to enable the world's systems to run on decentralized infrastructure. We take a multi-chain perspective with blockchain engineering experience that spans timezones, cultures, use cases, and protocols. Chainsafe was established in May, 2017 in Toronto, Ontario.

LianAn Technology

Venture Round in 2020
LianAn Technology is a blockchain firm dedicated to the creation of a blockchain security ecosystem. VaaS, developed by LianAn Technology, is an automated blockchain formal verification platform that supports both EOS and Ethereum.

AlphaWallet

Seed Round in 2019
The team at AlphaWallet is committed to connecting businesses and consumers with the new digital economic infrastructure through tokenisation. Tokenised rights can be traded on the market and integrated across systems, forming a Frictionless Market and allowing limitless integration(Integrating the Web). We provide TokenScript, an open framework which is the “HTML” for tokens and enables developers to make their tokens “smart”. The AlphaWallet app is like the browser for users to access these SmartTokens which are analogous to websites in the web 2.0 world. We see a future that everyone benefiting from technology-enabled free markets.

Plair

Initial Coin Offering in 2018
Plair is a decentralized gaming ecosytem that rewards players for participating in the Plair platform. Plair intends to establish and grow a community space where gamers can not only engage with one another through online and offline events and tournaments, but where they will have access to tools that will allow them to earn a sustainable living and forge a career path in video game play. The Plair platform will reward and empower every member of the video gaming community, both socially and financially.

everiToken

Seed Round in 2018
everiToken is a Shanghai-based company that offers a token-customized public blockchain designed to facilitate the issuance of various assets, from small items to large properties, through tokenization. Its platform employs a token-based transaction model that allows for parallel transactions while safeguarding against security attacks. This technology enables the tracking of token circulation, making it easier for merchants globally to accept tokens as payment for goods and services, both in traditional and decentralized applications. By integrating APIs related to token issuance, transfer, and management, everiToken supports the growth of the token economy and enhances the usability of tokens in everyday transactions.

LianAn Technology

Seed Round in 2018
LianAn Technology is a blockchain firm dedicated to the creation of a blockchain security ecosystem. VaaS, developed by LianAn Technology, is an automated blockchain formal verification platform that supports both EOS and Ethereum.

Block.one

Seed Round in 2017
Block.one LLC is a technology company that focuses on developing blockchain software solutions, notably the EOSIO protocol, which facilitates the creation of decentralized applications with enhanced scalability and flexibility. Founded in 2016 and headquartered in George Town, Cayman Islands, Block.one has established a significant presence in both the United States and the Asia Pacific region, employing over 300 specialized engineers and professionals. The company's open-source EOSIO software is widely utilized by developers, entrepreneurs, and businesses globally to build secure and transparent digital infrastructures. Block.one is dedicated to promoting societal advancement through innovative tools and systems that emphasize data integrity and verifiability.

Symbiont

Series A in 2017
Symbiont.io, Inc. is a financial technology company that specializes in developing a smart contracts platform tailored for institutional applications of blockchain technology. Founded in 2013 and headquartered in New York City, with an additional office in Amsterdam, the company provides a comprehensive infrastructure for capital markets. This includes a unified ledger for sharing business logic and market data, as well as the Symbiont Assembly platform, which facilitates the issuance, tracking, and management of financial instruments such as loans, securities, and commodities. By enabling complex financial instruments to exist within a decentralized blockchain network, Symbiont aims to enhance transparency, reduce risk, and lower costs for financial institutions and government entities. The company has established partnerships with industry leaders, including Vanguard and the State of Delaware, to drive innovation and improve operational efficiency in the capital markets sector.

Hashed Health

Seed Round in 2017
Hashed Health is a collaborative healthcare innovation firm that leverages blockchain and distributed ledger technologies to address various challenges in the healthcare sector. The company operates a venture studio aimed at accelerating innovations by partnering with healthcare and life sciences organizations to develop new business models through collaborative efforts. By creating an ecosystem of businesses, Hashed Health facilitates the sharing of clinical, financial, and real-world data assets, enabling efficient asset exchanges and multi-party business process automation. Their initiatives focus on data custody and the development of solutions for complex problems that require collective expertise, drawing on a history of successful healthcare spin-outs.

Parity Technologies

Seed Round in 2016
Parity Technologies Limited is a blockchain infrastructure company based in London, United Kingdom, established in 2015. It specializes in open-source software development, focusing on creating platforms and applications that leverage blockchain technology. Parity's offerings include a user-friendly Ethereum wallet and decentralized application environment, which facilitate secure interactions with the Ethereum blockchain. The company employs advanced cryptography and peer-to-peer technology, aiming to provide businesses and organizations with reliable and efficient software solutions.

String Labs

Seed Round in 2016
String Labs Inc. is a Palo Alto-based crypto venture studio that focuses on developing decentralized protocols and decentralized applications (DAPPS). Founded in 2014, the company is a key contributor to innovative blockchain projects, including DFINITY, which enhances the Ethereum ecosystem for business applications, and the PHI project, designed for decentralized cloud platforms. String Labs also collaborates with prominent organizations like BCG Dvolution to advance enterprise blockchain initiatives and offers infrastructure support. Its team comprises experts in cryptography, distributed computing, and economics, positioning the company as a leader in the blockchain space.

Bloq

Seed Round in 2016
Bloq, Inc. specializes in developing enterprise software solutions focused on blockchain technology. Founded in 2015 and headquartered in Chicago, the company offers BloqEnterprise, a robust blockchain infrastructure that allows users to create, customize, and manage private, public, and permissioned blockchain networks. Additionally, Bloq provides BloqCloud, a blockchain management system, and BloqLabs, which focuses on the tokenization of assets. The company also features Metronome, a cross-blockchain cryptocurrency, and operates a digital currency wallet that offers various cryptocurrency services. With a team of experienced blockchain developers and entrepreneurs, Bloq aims to empower global enterprises by enabling them to build, manage, and scale blockchain-enabled ecosystems with comprehensive support.

Skuchain

Seed Round in 2016
Skuchain, Inc. is a company that specializes in developing blockchain-based products aimed at enhancing B2B trade and supply chain finance. Founded in 2014 and based in Mountain View, California, Skuchain offers a platform that includes features for procurement, contract management, financing arrangements, and inventory tracking. One of its notable products is BRACKETS, a smart lock system that automates monetary transactions when contractual agreements are fulfilled. The company’s currency-agnostic approach ensures that businesses can achieve greater transparency, security, and efficiency throughout their supply chains, catering primarily to banks and manufacturers.
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