About Ledger Capital
Ledger Capital is a venture capital firm founded in 2017. It is primarily based out of Shanghai, China. As of Apr 2025, Ledger Capital has invested in 36 companies. It primarily invests in Seed round in Canada based startups. Its investments are spread across a wide range of sectors from High Tech to Blockchain Technology and Enterprise Applications. Most recently it participated in the $***** Seed round of DashFun Overall, Ledger Capital portfolio has seen 2 unicorns, 5 IPOs and 4 acquisitions including key companies like Trax, Bitcoin and Opera. A lot of funds co-invest with Ledger Capital, with names like HTX sharing a substantial percentage of its portfolio. Ledger Capital has team of 1 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed
Ledger Capital's List of Top Investments
Ledger Capital has a portfolio of 36 companies, including 2 unicorns. Their most notable investments include Trax and Bitcoin.Their portfolio spans across China, United States, Canada and 8 more locations. They have invested in High Tech, Blockchain Technology, Enterprise Applications and 16 other sectors, across stages such as Seed stage. Here is the list of top investments by Ledger Capital:
1. Trax
Cloud-based data analytics solutions for retail shelf management. The platform offers signal based merchandising data and analytics solutions to manage product placement and inventory. It generates reports to manage performance and support the decision making process. It offers AI powered solutions to execute, measure, and manage retail strategies. Features include merchandising, in-store execution, shopper engagement, market measurement, analytics and shelf monitoring solutions, workforce management, inventory optimization, and more.
Key facts about Trax
- Founded Year: 2010
- Location: Singapore (Singapore)
- Annual Revenue: $10M - $50M as on Dec 31, 2020
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $1.03B
- Employee Count: 627 as on May 31, 2026
- Investors: HighGear Ventures, GIC and 32 Others
- Latest Funding Round: Venture Debt, Nov 08, 2023, $*****
- Highlight: Editors' Pick
2. Bitcoin
Decentralized P2P cryptocurrency for payments. It is based on the Bitcoin Blockchain. It enables users to send, receive, and make payments using digital currencies. It allows transfers through wallets, exchanges, events, and more.
Key facts about Bitcoin
- Founded Year: 2009
- Location: Las Vegas (United States)
- Stage: Public
- Total Funding till date: $100M
- Investors: 2020 Ventures, World Capital Holdings Group and 78 Others
- Latest Funding Round: Post IPO, Oct 21, 2021, $*****
- Highlight: Public
3. Opera
Developer of a web browser providing online experiences and gaming products. The browser offers features such as ad blocking, file sharing, and virtual private network. It provides tools for arranging tabs, messaging, and artificial intelligence interaction. The company also develops a gaming browser and resources for game creation.
Key facts about Opera
- Founded Year: 1995
- Location: Oslo (Norway)
- Stage: Public
- Total Funding till date: $13.2M
- Employee Count: 2,402 as on May 31, 2026
- Investors: Herald Investment Management, Ledger Capital and 5 Others
- Latest Funding Round: PE, Apr 05, 2013, $*****
- Highlight: Public
4. Ethereum
Blockchain-based public network for decentralized applications. It is a blockchain-based distributed computing platform and operating system featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. It enables developers to build and deploy decentralized applications.
Key facts about Ethereum
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Series B
- Employee Count: 994 as on May 31, 2026
- Investors: Gynther Capital, 2020 Ventures and 108 Others
- Latest Funding Round: Series B, Oct 21, 2021, $*****
- Highlight: Editors' Pick
5. Grindr
Provider of an app-based dating and social platform for the LGBT community. The app makes use of the device's geolocation, which allows users to locate other users within close proximity. This is accomplished through a user interface that displays a grid of representative pictures of men, arranged from nearest to farthest away. Tapping on a picture will display a brief profile for that user, as well as the option to chat, send pictures, and share one's location. Mobile applications are available for Android and iOS users.
Key facts about Grindr
- Founded Year: 2008
- Location: Los Angeles (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Employee Count: 377 as on May 31, 2026
- Investors: Ledger Capital and Catapult Capital
- Highlight: Public
Ledger Capital's Year-on-Year Investment Trends
In 2025, it made 1 investment. Its most recent first time investment was in DashFun.Ledger Capital's Investments by Stage
Ledger Capital has made 3 investments in Seed stage with an average round size of $2.75M.Ledger Capital's Investments by Sector
Ledger Capital has a diverse portfolio, with companies operating in the Blockchain - Industry Applications, Blockchain Technology, Gaming, High Tech and FinTech. Notably, it has invested in 34 Tech companies, 25 Blockchain companies, 24 Enterprise (B2B) companies and at least 21 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Blockchain - Industry Applications | 3 |
Blockchain Technology | 2 |
Gaming | 2 |
High Tech | 2 |
FinTech | 1 |
Note: We have considered here, only first round of investments
Ledger Capital's Investments by Geography
Ledger Capital has made most investments in Canada (2), followed by Singapore where it has made 1 investment.Country | No. of Investments |
|---|---|
Canada | 2 |
Singapore | 1 |
Note: We have considered here, only first round of investments
Ledger Capital's recent investments
Ledger Capital has not made any investment in 2026 so far.Here are the most recent investments by Ledger Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 09, 2025 | Canada | Seed | 2754 | [+3] | |
May 30, 2024 | Canada | Seed | 1629 | [+10] | |
Apr 04, 2024 | Singapore | Seed | 6319 | [+9] |
Unicorns in Ledger Capital's Portfolio
Ledger Capital has 2 unicorns in its portfolio - Trax and Liepin. The most recent unicorn in their portfolio is Trax. It became a unicorn in 2019, 7 years before Ledger Capital first invested in it.Here is a list of unicorns in Ledger Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
79 | Cloud-based data analytics solutions for retail shelf management | 2010 | Singapore | Series E | k{ncagx | ||
55 | Provider of job board platform for the multi industry | 2004 | Beijing | Series D | h{qquda |
IPOs and Publicly Listed companies in Ledger Capital's Portfolio
5 of Ledger Capital's portfolio companies have become public. Bitcoin got listed on the Toronto Stock Exchange (TSX), in Feb 2021 and Grindr got listed on the New York Stock Exchange (NYSE).Here are Ledger Capital's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 18, 2021 | - | - | 6299 | |
Jan 22, 2021 | - | - | 8250 | |
Sep 12, 2018 | - | - | 9184 | |
Jul 27, 2018 | - | - | 9125 | |
Jun 28, 2018 | - | - | 7454 |
Acquired companies in Ledger Capital's Portfolio
4 companies from Ledger Capital's portfolio have been acquired. The most recent acquisition was ARPA in Feb 2024 by DWF Labs for $*****.Here are Ledger Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 20, 2024 | - | - | 1759 | |
May 09, 2022 | - | - | 4947 | |
Dec 09, 2020 | - | - | 8548 | |
Apr 03, 2018 | - | - | 9974 |
Team profile of Ledger Capital
Ledger Capital has a team of 1 member located in United States. Ledger Capital's team does not sit on the board of any company as of now.Co-investors of Ledger Capital
Over the past 2 years, 27 investors have co-invested in Ledger Capital's portfolio companies. This includes funds and angels.
- Invested before Ledger Capital: Polygon Ventures, Fundamental Labs and 1 other have invested in rounds before Ledger Capital. There is 1 company where Polygon Ventures has invested before Ledger Capital and 1 company where Fundamental Labs has invested before Ledger Capital.
- Top Co-investors of Ledger Capital: 24 investors entered a company along with Ledger Capital. These include investors like HTX (2 companies).
Recent News related to Ledger Capital
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NexGami Secures $2.5 Million in Seed Round, IDO Rollout on 5 Major Launchpads and $NEXG Token on KuCoin's BurningDropGlobeNewswire•May 30, 2024•NexGami, Metalpha, KuCoin, IBC Group and 5 others
•
Zulu Network Secures $3 Million in Pre-Seed Funding to Revolutionize Bitcoin Layer 2TMC•Apr 05, 2024•Zulu Network, CGV, D11, Web3.com and 12 others
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NexGami Raises $2M in Seed FundingFinSMEs•Oct 03, 2023•CTH, Ledger Capital, Polygon Ventures, NexGami
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Ledger Capital Partners with Opera Software to Grow its Blockchain Technology InitiativePR Newswire•Oct 08, 2018•Ledger Capital, Opera
