About DFG
DFG is a venture capital firm founded in 2015. It is primarily based out of Singapore, Singapore. As of Sep 2026, DFG is an active investor, having invested in 137 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Blockchain Technology to High Tech and FinTech. Most recently it participated in the $***** Seed round of Walapay Overall, DFG portfolio has seen 5 unicorns, 2 IPOs and 5 acquisitions including key companies like Circle, Bitso and Ledger. A lot of funds co-invest with DFG, with names like NGC Ventures sharing a substantial percentage of its portfolio. DFG has team of 12 people including 5 partners.Key Metrics
DFG's List of Top Investments
DFG has a portfolio of 137 companies, including 5 unicorns. Their most notable investments are in Polkastarter and Crust.Their portfolio spans across United States, Singapore, China and 25 more locations. They have invested in Blockchain Technology, High Tech, FinTech and 11 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by DFG:1. Circle
Cross-border payment solution for businesses focusing on cryptocurrency. It offers a payments API for payment processing, a payouts API for global payouts solutions, and more. The mobile application is available for Android users.
Key facts about Circle
- Founded Year: 2013
- Location: Boston (United States)
- Stage: Public
- Total Funding till date: $1.51B
- Employee Count: 1,533 as on Sep 30, 2026
- Investors: 2020 Ventures, K2 Global and 58 Others
- Latest Funding Round: Post IPO, Sep 22, 2026, $*****
- Highlight: Public
2. Bitso
Online trading and exchange platform for cryptocurrency. The platform enables users to buy and sell digital currencies through app-based and web platforms. It supports a wide range of digital currencies including Ripple, Bitcoin, Ether, XRP, Litecoin among others. It also provides market analysis charts and insights as a reference to the trader. The app is available on iOS and Android devices.
Key facts about Bitso
- Founded Year: 2014
- Location: Mexico City (Mexico)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $331M
- Employee Count: 884 as on Sep 30, 2026
- Investors: Bond Capital, RAA Capital and 38 Others
- Latest Funding Round: Series C, May 05, 2021, $*****
- Highlight: Editors' Pick
3. Ledger
Blockchain based hardware wallet for cryptocurrency. Its products offered include Nano X, Nano S, Blue, and OTG Kit. It supports multiple cryptocurrencies including Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, and more. It offers a vault which is a multi authorization cryptocurrency wallet management solution.
Key facts about Ledger
- Founded Year: 2014
- Location: Paris (France)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $575M
- Employee Count: 802 as on Sep 30, 2026
- Investors: RAA Capital, Felix Capital and 71 Others
- Latest Funding Round: Series C, Mar 08, 2023, $*****
- Highlight: Editors' Pick
4. Solana
Developer of enterprise infrastructure for issuing assets and digital payments. This platform provides application programming interfaces and tools for tokenization, payment orchestration, and financial transaction settlement. It supports the creation of stablecoins and real-world assets, enabling institutions to facilitate cross-border money transfers and compliant on-chain financial operations. The technology stack includes resources for building decentralized applications, managing network data, and integrating automated agent workflows for various commercial use cases.
Key facts about Solana
- Founded Year: 2010
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $374M
- Employee Count: 588 as on Oct 31, 2026
- Investors: World Capital Holdings Group, Foundation Capital and 95 Others
- Latest Funding Round: Series C, Jun 09, 2021, $*****
- Highlight: Editors' Pick
5. Amber Group
Provider of blockchain-based financial solutions. It provides users with crypto-based financial services like payments, exchanges, and wallets. It also allows users to buy, sell, and trade digital currencies, including Bitcoin, Ripple, and Ethereum. It also offers collateralized loans across stable coins and multiple currencies. It also provides margin trading and OTC liquidity solutions.
Key facts about Amber Group
- Founded Year: 2017
- Location: Singapore (Singapore)
- Annual Revenue: $0 - $1M as on Sep 30, 2018
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $628M
- Employee Count: 620 as on Sep 30, 2026
- Investors: Temasek, Base Partners and 32 Others
- Latest Funding Round: Series C, Dec 16, 2022, $*****
- Highlight: Editors' Pick
DFG's Year-on-Year Investment Trends
DFG has invested in 137 companies over the last 10 years, with an average of 6 new investments annually in the last 10 years. As of Sep 2026, it has made 1 investment in this year. Its most recent first time investment was in Walapay and most recent follow-on round was in Ledger.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 0 | 0 | 0 |
2024 | 3 | 0 | 3 |
2023 | 2 | 1 | 3 |
2022 | 8 | 2 | 10 |
2021 | 45 | 0 | 45 |
2020 | 3 | 0 | 3 |
2019 | 0 | 0 | 0 |
2018 | 0 | 0 | 0 |
2017 | 1 | 0 | 1 |
DFG's Investments by Stage
DFG has made 45 investments in Seed stage with an average round size of $3.12M, 14 investments in Series A stage with an average round size of $15.6M and 2 investments in Series B stage with an average round size of $21.2M.Stage of entry | No. of Investments |
|---|---|
Seed | 45 |
Series A | 14 |
Series B | 2 |
Angel | 1 |
PE | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
DFG's Investments by Sector
DFG has a diverse portfolio, with companies operating in the Blockchain Technology, High Tech, Blockchain - Industry Applications, FinTech and Enterprise Applications. Notably, it has invested in 127 Tech companies, 116 Blockchain companies, 77 Enterprise (B2B) companies and at least 77 companies focusing on Software.Sector | No. of Investments |
|---|---|
Blockchain Technology | 54 |
High Tech | 43 |
Blockchain - Industry Applications | 36 |
FinTech | 36 |
Enterprise Applications | 24 |
Others | 29 |
Note: We have considered here, only first round of investments
DFG's Investments by Geography
DFG has made most investments in United States (16), followed by Singapore where it has made 11 investments.Country | No. of Investments |
|---|---|
United States | 16 |
Singapore | 11 |
China | 7 |
Canada | 3 |
India | 3 |
Others | 23 |
Note: We have considered here, only first round of investments
DFG's recent investments
DFG has made 1 investments in 2026 so far - Walapay.Here are the most recent investments by DFG:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 30, 2026 | United States | Seed | 5467 | [+8] | |
Dec 19, 2024 | United States | Series B | 5002 | [+15] | |
Jul 18, 2024 | Singapore | Series A | 8680 | [+7] | |
Jan 19, 2024 | United States | Seed | 2964 | [+13] | |
Aug 16, 2023 | United States | Seed | 2466 | [+12] |
Unicorns in DFG's Portfolio
DFG has 5 unicorns in its portfolio - AVA, CoinList, Amber Group and others. The most recent unicorn in their portfolio is AVA. It became a unicorn in 2022, 4 years before DFG first invested in it.Here is a list of unicorns in DFG's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
71 | Blockchain platform for smart contracts and custom subnets | 2018 | Brooklyn | Series B | qvffurx | ||
76 | App-based trading platform for cryptocurrency | 2017 | San Francisco | Series A | onhcfwr | ||
78 | Provider of blockchain-based financial solutions | 2017 | Singapore | Series C | oxotgcu | ||
82 | Blockchain based hardware wallet for cryptocurrency | 2014 | Paris | Series C | jvapzxt | ||
83 | Online trading and exchange platform for cryptocurrency | 2014 | Mexico City | Series C | hjcyhyn |
IPOs and Publicly Listed companies in DFG's Portfolio
2 of DFG's portfolio companies have become public. Circle got listed on the New York Stock Exchange (NYSE), in Jun 2025 at marketcap of $6.22B and Bitcoin got listed on the Toronto Stock Exchange (TSX).Here are DFG's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 05, 2025 | - | - | 5786 | |
Feb 18, 2021 | - | - | 6575 |
Acquired companies in DFG's Portfolio
5 companies from DFG's portfolio have been acquired. The most recent acquisition was Dexlab in Jul 2025 by Astra for $*****.Here are DFG's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 12, 2025 | Jun 30, 2021 | Seed | 8927 | |
Feb 06, 2024 | - | - | 9419 | |
Apr 26, 2023 | May 22, 2017 | Series B | 8463 | |
Jul 14, 2022 | Jun 09, 2021 | Seed | 4067 | |
Dec 11, 2019 | - | - | 2408 |
Team profile of DFG
DFG has a team of 12 members including 5 Partners and 3 Principals located in Singapore, United States and 2 more locations. DFG's team does not sit on the board of any company as of now.Here is a list of top team members in DFG:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Singapore | - | - | |
Partner | New York City | - | ||
Partner | Ambala | - | - | |
Partner | - | - | ||
Partner | Los Angeles | - | - | |
Principal | Shanghai | - | - | |
Principal | Singapore | - | ||
Principal | Singapore | - |
Co-investors of DFG
Over the past 10 years, 583 investors have co-invested in DFG's portfolio companies. This includes funds and angels.
- Invested before DFG: IOSG Ventures, Digital Currency Group and 113 others have invested in rounds before DFG. There are 4 companies where IOSG Ventures has invested before DFG and 3 companies where Digital Currency Group has invested before DFG.
- Top Co-investors of DFG: 396 investors entered a company along with DFG. These include investors like NGC Ventures (16 companies).
- Invested after DFG: A total of 72 investors have invested in DFG's portfolio after their investments. Top Investors include OKX (2 companies), VaynerFund (1 company) and Cite Gestion (1 company).
Recent News related to DFG
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One-Stop Station' Digital Identity Service Root Protocol Raises $10M Seed FundingCoinDesk•Jan 19, 2024•Root Protocols, Animoca Brands, Signum Capital, Ankr and 12 others
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Linera Protocol Raises $6M in Seed Funding for Web3 InnovationThe Crypto Times•Aug 17, 2023•Borderless Capital, LiNEAR, Laser Digital, DFG and 15 others
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Across Legal advises Rand App on the closing of its €3m financing roundIberianlawyer•Apr 27, 2023•Across Legal, Rand App, StratMinds, Wayra and 5 others
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Over 24 Million USD in Ledger Invested by True Global Ventures As It Accelerates Plans To Bring Digital Asset Security To The Masseshttp://publicnewstime.com•Mar 31, 2023•Ledger, TGV, DFG, VaynerFund and 7 others
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Ledger, the crypto asset wallet with an investment of 100 million euros, reaches a valuation of $ 1.3 billionegirisim•Mar 30, 2023•Ledger, TGV, Cite Gestion, DFG and 7 others
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Crypto wallet company Ledger raises another $108 millionTechCrunch+•Mar 30, 2023•Ledger, Molten Ventures, Korelya Capital, Cathay Innovation and 8 others
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ChainSafe Raises US$18.75 Million in Series A Funding to Accelerate Web3 AdoptionBusiness Wire•Oct 18, 2022•Fenbushicapital, DFG, Jsquare, Sfermion and 6 others
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Capsule Corp Labs Raises €7.3M in Seed FundingFinSMEs•Oct 12, 2022•DFG, Capsule Corp, Omnes Capital, https://www.revam.com/ and 3 others
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DAM Finance Raises $1.8 Million Pre-Seed for “Portfolio Backed Stablecoin”Crowdfund Insider•Aug 22, 2022•DAM Finance, DFG, Arrington Capital, LedgerPrime and 5 others
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Ruby Protocol Raises $7.3M in FundingFinSMEs•Feb 10, 2022•Ruby, DFG, Signum Capital, D1 Ventures and 5 others
