Figment Capital
Figment Capital is a private, SEC-registered venture capital firm that invests in early-stage blockchain infrastructure companies, including Layer 1s, DeFi protocols, and cross-chain providers. The firm, led by CEO Lorien Gabel, serves Web3 founders with capital and ecosystem support and institutional LPs seeking curated on-chain exposure.
- Company typePrivate
- Founded2021
- HeadquartersNyack, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Figment Capital does
Figment Capital is a private Web3-focused venture capital firm that invests in early-stage blockchain infrastructure companies. The firm is registered as Figment Investment Management, LLC, an Exempt Reporting Adviser with the SEC headquartered in California and led by CEO and co-founder Lorien Gabel. Its stated thesis is to back teams building the rails, markets, and consumer applications that turn blockchains into the default infrastructure for how value is created, traded, and owned, with the goal of an on-chain financial system that is open, global, and always on.
The firm operates a single investment fund rather than a portfolio of products, with investments concentrated in Web3 infrastructure. The disclosed portfolio includes Layer 1 blockchains (Monad, Celestia, Initia, Movement Labs, zkSync), DeFi protocols (Delta, EigenLayer, Renzo, Suilend, Osmosis), cross-chain infrastructure providers (Hyperlane, Axelar, Connext, Wormhole, Avail), and consumer-facing Web3 applications (MegaETH, Mysten Labs, Noise, Lit Protocol, Nym), totaling more than 70 portfolio companies. Recent co-investments include Doppler's $9 million seed round led by Pantera Capital (Q2 2025) and Noise's $7.1 million seed round led by Paradigm (Q2 2025), signaling active deal flow into the Base L2 application stack.
The business model is conventional venture fund economics: management fees on committed/invested capital and carried interest on realized gains, supplemented by appreciation of equity stakes in portfolio companies. The firm serves two primary constituencies: early-stage Web3 and blockchain infrastructure founders seeking capital and ecosystem support, and institutional LPs seeking curated exposure to blockchain infrastructure investment opportunities. Figment Capital differentiates through deep technical expertise in blockchain infrastructure and a strategic partnership with HTX Ventures, the investment arm of crypto exchange HTX (Huobi HTX), which provides distribution into Asian markets.
Figment Capital firmographics
Firmographics- Name
- Figment Capital
- Legal name
- Figment Investment Management, LLC
- Website
- https://figmentcapital.io
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Figment Capital is a private, SEC-registered venture capital firm that invests in early-stage blockchain infrastructure companies, including Layer 1s, DeFi protocols, and cross-chain providers. The firm, led by CEO Lorien Gabel, serves Web3 founders with capital and ecosystem support and institutional LPs seeking curated on-chain exposure.
- Ownership category
- akta.pro rank
Figment Capital industry classification
Industry- Product category
- Web3 Venture Capital
- NAICS
- All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where Figment Capital is headquartered
LocationHeadquarters
- HQ city
- Nyack
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Figment Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Investment Returns: Figment Capital generates returns through equity investments in early-stage blockchain and Web3 companies. As an investment adviser, the firm earns returns from successful portfolio exits and appreciating equity stakes in blockchain infrastructure, rails, markets, and consumer application companies.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Figment Capital product offering
Product offeringCore offering
Figment Capital is an early-stage venture capital fund that invests equity capital in Web3 and blockchain infrastructure companies. The fund backs teams building the rails (Layer 1 and Layer 2 blockchains, interoperability, data availability), markets (DeFi protocols), and consumer applications that turn blockchains into default infrastructure for value creation, trading, and ownership. It also runs a 70+ company portfolio and partners with strategic investors such as HTX Ventures to provide portfolio companies with market reach and ecosystem support.
Product overview
Figment Capital is a Web3-focused venture fund, not a product company. The company operates as a single unified investment offering, providing venture capital funding to early-stage blockchain and Web3 infrastructure companies. Rather than a platform-plus-modules architecture, Figment Capital functions as a fund with a portfolio of investments in blockchain infrastructure projects. The portfolio includes investments across various sectors including Layer 1 blockchains (Monad, Celestia, Initia, Movement Labs, zkSync), DeFi protocols (Delta, EigenLayer, Renzo, Suilend, Osmosis), infrastructure providers (Hyperlane, Axelar, Connext, Wormhole, Avail), and other Web3 projects (MegaETH, Mysten, Noise, Lit Protocol, Nym). The company does not offer distinct product modules or branded service lines — the portfolio companies listed represent investments, not products or services sold by Figment Capital to customers.
Differentiator
Problem solved
Functional benefit
Products and services
- Figment Capital Investment Fund A Web3-focused venture capital fund that provides equity capital and ecosystem support to early-stage blockchain infrastructure companies. The fund invests in teams building rails (L1/L2 networks, interoperability, data availability, ZK), markets (DeFi protocols), and consumer applications that turn blockchains into default infrastructure for value creation, trading, and ownership. It targets founders and LPs in the Web3 ecosystem, with a current portfolio of 70+ companies including Celestia, EigenLayer, Monad, Wormhole, Hyperlane, zkSync, Movement Labs, MegaETH, and Mysten Labs.
Companies that use Figment Capital
Customer profileSegments2 records
Ideal customer profiles2 records
Figment Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Figment Capital partnerships and signals
Strategic signalScale indicators1 record
Recent moves4 records
Expansion highlights4 records
Figment Capital competitors and assessment
Company assessmentDirect peers
- Pantera Capital: One of the largest crypto-focused investment firms. Pantera and Figment both lead or co-invest in early-stage Web3 seed rounds, including recent overlapping deals like Doppler.
- Paradigm: Crypto-native venture firm investing in early-stage Web3 infrastructure and protocols. Directly comparable to Figment as a thesis-driven crypto VC backing similar categories (L1s, DeFi, infrastructure), with substantially larger fund size.
- Multicoin Capital: Thesis-driven crypto VC investing in blockchain infrastructure, DeFi, and Web3 applications. Comparable to Figment in mandate, stage focus, and emphasis on technical differentiation.
- Variant Fund: Early-stage crypto VC focused on Web3 infrastructure and ownership economies. Variant has co-invested with Figment on rounds such as Doppler, making it a directly comparable peer.
- Coinbase Ventures: Strategic crypto investment arm of Coinbase, deploying capital across early-stage Web3 and infrastructure. Has co-invested with Figment on recent seed rounds, operating with similar stage focus but with strategic exchange backing.
- Polychain Capital: Crypto-native VC investing in blockchain protocols and infrastructure at early stages. Directly comparable in investment thesis and stage, with longer track record and larger fund base.
- HTX Ventures: Investment arm of HTX (formerly Huobi) crypto exchange and a strategic investor in Figment Capital. Both firms invest in early-stage Web3 infrastructure, though HTX also has a strong Asia regional focus.
- Electric Capital: Crypto VC investing in early-stage Web3 protocols and infrastructure. Comparable in thesis and stage focus, with a developer-research orientation similar to Figment's technical edge.
Broad incumbents
- Andreessen Horowitz (a16z crypto): Major venture firm with a dedicated crypto fund investing across Web3 infrastructure and applications. Broader incumbent with a much larger fund and brand, but overlapping in target portfolio categories.
Emerging players
- Hack VC: Early-stage crypto VC backing Web3 infrastructure and developer tooling. Comparable in stage and thesis to Figment, with a similarly technical orientation but slightly more generalist.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights5 records
Customer concentration
Figment Capital social profiles
Digital presenceFigment Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Figment Capital leadership team
Management profileNumber of profiles
Profiles1 record
Figment Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Figment Capital M&A and investment
M&A and investmentM&A
Investments71 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Figment Capital
What does Figment Capital do?
Figment Capital is an early-stage venture capital fund that invests equity capital in Web3 and blockchain infrastructure companies. The fund backs teams building the rails (Layer 1 and Layer 2 blockchains, interoperability, data availability), markets (DeFi protocols), and consumer applications that turn blockchains into default infrastructure for value creation, trading, and ownership. It also runs a 70+ company portfolio and partners with strategic investors such as HTX Ventures to provide portfolio companies with market reach and ecosystem support.
Is Figment Capital a public or private company?
Figment Capital is a private company. It is classified as venture growth investor backed and is currently operating.
When was Figment Capital founded?
Figment Capital was founded in 2021. It employs 1 to 10 people.
Where is Figment Capital based?
Figment Capital is headquartered in Nyack, United States, in the North America region.
How does Figment Capital make money?
One revenue line is on record: investment Returns.
Who are Figment Capital's main competitors?
Direct peers on record are Pantera Capital, Paradigm, Multicoin Capital, Variant Fund, Coinbase Ventures, Polychain Capital, HTX Ventures and Electric Capital. Andreessen Horowitz (a16z crypto) is listed as a broad incumbent. Hack VC is listed as an emerging player.
Does Figment Capital have an API?
No public API is recorded for Figment Capital.
What industry is Figment Capital in?
Figment Capital's product category is Web3 Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 52399 and its SIC code is 6282.