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Taking a closer look at this syndicate's composition reveals an interesting mix of heavyweight players. The cap table shows:
VC & Strategic Backers:
A16z leads the charge alongside Galaxy Digital—both established names in the space. Gary Vee's VaynerFund is in the mix, bringing attention and credibility. Then you've got Mantis VC and Shrug Capital rounding out the tier-one supporters. Japan's GFR Fund adds geographic diversity, while Adrian Cheng through C Capital (yes, the Hong Kong investor who made a serious run at Azuki) signals major conviction from Asia's wealth class. Ledger Capital completes the institutional roster.
The angel side brings its own flavor of conviction, though the full list there remains partially visible. What stands out? This isn't just random money—it's strategic capital from investors who actually move markets in Web3. The geographic spread (US, Japan, Hong Kong) and the mix of narrative-setters (Gary Vee, Adrian Cheng) with infrastructure players (a16z, Galaxy Digital) suggests this syndicate wasn't assembled by accident.