About Morningstar Ventures
Morningstar Ventures is a venture capital firm founded in 2020. It is primarily based out of Dubai, United Arab Emirates. As of Mar 2026, Morningstar Ventures is an active investor, having invested in 134 companies, with 4 new investments 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 $***** Series A round of Watch Fun Overall, Morningstar Ventures portfolio has seen 2 unicorns and 2 acquisitions including key companies like Unstoppable Domains, Axelar and Bware Labs. A lot of funds co-invest with Morningstar Ventures, with names like Animoca Brands sharing a substantial percentage of its portfolio. Morningstar Ventures has team of 7 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio Acquisitions
Portfolio Unicorns
Morningstar Ventures' List of Top Investments
Morningstar Ventures has a portfolio of 134 companies, including 2 unicorns. Their most notable investments are in Sator and Polychain Monsters.Their portfolio spans across United States, Singapore, United Kingdom and 32 more locations. They have invested in Blockchain Technology, High Tech, FinTech and 11 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Morningstar Ventures:1. Injective
Developer of a layer one blockchain for decentralised finance applications. It provides pre-built modules to simplify application development with dynamic smart contracts. The blockchain focuses on speed and low costs for on-chain transactions. It supports a Web3 financial ecosystem with various applications, connected chains, and infrastructure. The platform facilitates creating wallets, acquiring native tokens, bridging assets, and staking.
Key facts about Injective
- Founded Year: 2018
- Location: New York City (United States)
- Stage: Series A
- Total Funding till date: $52.6M
- Employee Count: 138 as on Jul 31, 2026
- Investors: Innovating Capital, CMS Holdings and 23 Others
- Latest Funding Round: Series A, Aug 10, 2022, $*****
- Highlight: Editors' Pick
Web3 domains for crypto transactions and building decentralized websites. It allows users to build a digital identity with domain profiles. Users can verify social accounts, display NFT avatars, and highlight achievements. Users can build a web3 website with a domain to own and control. It offers an app that is available on both Android & iOS devices.
Key facts about Unstoppable Domains
- Founded Year: 2018
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $70M
- Employee Count: 78 as on Jul 31, 2026
- Investors: RAA Capital, Orthogonal Thinker and 26 Others
- Latest Funding Round: Series A, Jul 26, 2022, $*****
- Highlight: Editors' Pick
3. Axelar
Online platform for cross-chain communication for web3. It offers solutions for integrating decentralized applications into blockchain networks. It allows developers to host apps, move assets, communicate with applications on other chains using the Axelar API, and more.
Key facts about Axelar
4. MultiversX
Decentralized blockchain network that enables new applications, for users and businesses. Its product portfolio includes money crypto which enables users to accept crypto payments, money fiat which enables users to accept fiat at competitive rates, exchange protocol to swap multiple cryptocurrencies, and a spotlight for NFT album and art.
Key facts about MultiversX
- Founded Year: 2017
- Location: Phillips (United States)
- Stage: Series A
- Total Funding till date: $16.9M
- Employee Count: 102 as on Jul 31, 2026
- Investors: Electric Capital, Quadrilium Ventures and 8 Others
- Latest Funding Round: Series A, Oct 13, 2021, $*****
- Highlight: Editors' Pick
5. Highstreet
Developer of a metaverse platform integrating retail with gaming experiences. The platform offers virtual real estate and in-game items. Users can purchase digital and physical products. The platform utilizes a native token for in-world transactions and asset acquisition.
Key facts about Highstreet
- Founded Year: 2021
- Location: Los Angeles (United States)
- Stage: Series A
- Total Funding till date: $5M
- Employee Count: 56 as on Jul 31, 2026
- Investors: Palm Drive Capital, Capstone Venture Group and 21 Others
- Latest Funding Round: ICO, Oct 13, 2021, $*****
- Highlight: Editors' Pick
Morningstar Ventures' Year-on-Year Investment Trends
Morningstar Ventures has invested in 135 companies over the last 5 years, with an average of 16 new investments annually in the last 5 years. In 2025, it made 3 investments, while as of Mar 2026, it has made 2 investments in this year. Its most recent first time investment was in Watch Fun and most recent follow-on round was in Bware Labs.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 3 | 0 | 3 |
2024 | 20 | 0 | 20 |
2023 | 3 | 0 | 3 |
2022 | 33 | 1 | 34 |
2021 | 32 | 1 | 33 |
Morningstar Ventures' Investments by Stage
Morningstar Ventures has made 56 investments in Seed stage with an average round size of $5.15M, 31 investments in Series A stage with an average round size of $8.16M, 5 investments in Series B stage with an average round size of $16M and 1 investment in Series C stage with an average round size of $46M.Stage of entry | No. of Investments |
|---|---|
Seed | 56 |
Series A | 31 |
Series B | 5 |
Series C | 1 |
Note: We have considered here, only first round of investments
Morningstar Ventures' Investments by Sector
Morningstar Ventures has a diverse portfolio, with companies operating in the Blockchain Technology, Blockchain - Industry Applications, FinTech, High Tech and Consumer. Notably, it has invested in 121 Tech companies, 108 Blockchain companies, 91 Consumer (B2C) companies and at least 54 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Blockchain Technology | 75 |
Blockchain - Industry Applications | 68 |
FinTech | 68 |
High Tech | 65 |
Consumer | 23 |
Others | 52 |
Note: We have considered here, only first round of investments
Morningstar Ventures' Investments by Geography
Morningstar Ventures has made most investments in United States (19), followed by Singapore where it has made 16 investments.Country | No. of Investments |
|---|---|
United States | 19 |
Singapore | 16 |
United Kingdom | 9 |
Germany | 5 |
Canada | 3 |
Others | 40 |
Note: We have considered here, only first round of investments
Morningstar Ventures' recent investments
Morningstar Ventures has made 2 investments in 2026 so far - Watch Fun and Opnet.Here are the most recent investments by Morningstar Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 26, 2026 | Comoros | Series A | 1962 | [+6] | |
Mar 12, 2026 | United Arab Emirates | Series A | 7545 | [+5] | |
Dec 16, 2025 | Germany | Seed | 4477 | [+2] | |
Oct 24, 2025 | United States | Seed | 7493 | [+6] | |
Jan 14, 2025 | Estonia | Series A | 9338 | [+4] |
Unicorns in Morningstar Ventures' Portfolio
Morningstar Ventures has 2 unicorns in its portfolio - Unstoppable Domains and Axelar. The most recent unicorn in their portfolio is Unstoppable Domains. It became a unicorn in 2022, 4 years before Morningstar Ventures first invested in it.Here is a list of unicorns in Morningstar Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Web3 domains for crypto transactions and building decentralized websites | 2018 | San Francisco | Series A | ufgjgrg | ||
68 | Online platform for cross-chain communication for web3 | 2020 | Toronto | Series B | xmkjphs |
Acquired companies in Morningstar Ventures' Portfolio
2 companies from Morningstar Ventures' portfolio have been acquired. The most recent acquisition was Bware Labs in Aug 2024 by Alchemy for $*****.Here are Morningstar Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 29, 2024 | May 24, 2021 | Seed | 6313 | |
Dec 11, 2019 | - | - | 7919 |
Team profile of Morningstar Ventures
Morningstar Ventures has a team of 7 members including 2 Partners, 1 Venture Partner and 2 Principals located in South Korea, United Kingdom and 2 more locations. Morningstar Ventures' team does not sit on the board of any company as of now.Here is a list of all team members in Morningstar Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Switzerland | - | ||
Partner | Seoul | - | ||
Venture Partner | United Arab Emirates | - | - | |
Principal | - | - | - | |
Principal | United Kingdom | - |
Co-investors of Morningstar Ventures
Over the past 5 years, 744 investors have co-invested in Morningstar Ventures's portfolio companies. This includes funds and angels.
- Invested before Morningstar Ventures: Animoca Brands, Skyvision and 106 others have invested in rounds before Morningstar Ventures. There are 4 companies where Animoca Brands has invested before Morningstar Ventures and 4 companies where Skyvision has invested before Morningstar Ventures.
- Top Co-investors of Morningstar Ventures: 550 investors entered a company along with Morningstar Ventures. These include investors like Animoca Brands (19 companies).
- Invested after Morningstar Ventures: A total of 86 investors have invested in Morningstar Ventures's portfolio after their investments. Top Investors include C² Ventures (2 companies), Cypher Capital (2 companies) and Infinity Ventures Crypto (2 companies).
Recent News related to Morningstar Ventures
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Pieverse completes $7 million in financing, led by Animoca Brands and UOB VenturesPANews•Oct 24, 2025•UOB, Animoca Brands, Pieverse, Morningstar Ventures and 6 others
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KIP Protocol Completes $5 Million Private Funding, Led by Animoca Ventures and Tribe CapitalPANews•Aug 16, 2024•KIP, Animoca Ventures, Tribe Capital, GBV Capital and 2 others
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HTX Ventures Invests in Nexio to Enhance The Bitcoin EcosystemPR Newswire•Aug 07, 2024•HTX, Lattice, Lattice, Artichoke Capital and 5 others
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Binance Labs Invests In Particle NetworkFinextra•Aug 01, 2024•Binance Labs, Particle Network, aPriori, Binance and 5 others
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Gudchain Completes $5 Million Funding, Mechanism Capital Leads InvestmentCoinTime•Jun 21, 2024•Gudchain, Mechanism Capital, Morningstar Ventures, Manifold Group and 1 other
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Particle Network Completes $15 Million Series A Funding, Led By Spartan Group And Gumi Cryptos CapitalPANews•Jun 20, 2024•Particle Network, gCC, Spartan Group, SevenX Ventures and 3 others
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STYLE Protocol Building to Empower Gamers Closes $2.5M Seed and Lists Token on Major ExchangesCryptocurrency•May 06, 2024•STYLE Protocol, Morningstar Ventures, Dutch Crypto Investors, GBV Capital and 9 others
