About Sfermion
Sfermion is a venture capital firm founded in 2019. It is primarily based out of Chicago, United States. As of Oct 2026, Sfermion is an active investor, having invested in 147 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 $***** Seed round of Perp Tools Overall, Sfermion portfolio has seen 2 unicorns and 5 acquisitions including key companies like Immutable, Sorare and Lolli. A lot of funds co-invest with Sfermion, with names like Animoca Brands sharing a substantial percentage of its portfolio. Sfermion has team of 7 people including 5 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio Soonicorns
Deals in last 12 months
Sfermion's List of Top Investments
Sfermion has a portfolio of 147 companies, including 2 unicorns. Their most notable investments are in Kleoverse and Third Time.Their portfolio spans across United States, United Kingdom, Singapore and 23 more locations. They have invested in Blockchain Technology, High Tech, FinTech and 12 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Sfermion:_1583130731032.png?format=webp&height=120&width=120){kind=logo}
1. Immutable
Blockchain-based infrastructure for NFT games and applications. It specializes in developing core games such as cards, MMO, FPS, and more. It also provides an open-source platform for developers to create immutable assets such as cards, skins, weapons, and more. It provides a peer-to-peer marketplace for players where they can buy, sell and gift in-game items.
Key facts about Immutable
- Founded Year: 2018
- Location: Sydney (Australia)
- Annual Revenue: $10M - $50M as on Jun 30, 2022
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $277M
- Employee Count: 190 as on Aug 31, 2026
- Investors: Liberty Global, Princeville Capital and 57 Others
- Latest Funding Round: Series C, Mar 07, 2022, $*****
- Highlight: Editors' Pick
2. Veera
Developer of ad-free, rewards-based Web3 mobile internet browser. The browser integrates a universal Web3 wallet, built-in dApp store, and tracking protection to streamline access to decentralized applications and secure browsing. Users earn points through everyday web and Web3 interactions, which can be exchanged for vouchers or tokens. The platform supports both Web2 and Web3 workflows by blocking ads and trackers, enabling private browsing, and offering seamless asset management. It combines browser, wallet, and rewards in one mobile app to simplify decentralized web adoption and enhance user experience.
Key facts about Veera
- Founded Year: 2022
- Location: Gurugram (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Stage: Seed
- Total Funding till date: $10M
- Employee Count: 189 as on May 31, 2026
- Investors: Accomplice, iSeed Ventures and 11 Others
- Latest Funding Round: Seed, Jan 16, 2026, $*****
- Highlight: Editors' Pick
3. Sorare
Provider of blockchain-powered fantasy sports marketplace for a variety of sports. It gives users access to an NFT-based fantasy sports platform where they may play fantasy football in the site's gaming arena, gather virtual player cards, and exchange them for actual cryptocurrency. Additionally, it claims to confirm and authenticate player cards using the Ethereum blockchain. Multilingualism, squad formation and management, and recurring reporting are among its features.
Key facts about Sorare
4. Flowdesk
Crypto liquidity pool for digital assets marketplace. It provides liquidity, brokering services, and market-making strategies. It features liquidity models for crypto exchange, crypto-derivatives for hedging, aggregation of market data, and more.
Key facts about Flowdesk
5. Galxe
Web3 credential data network. It provides the infrastructure for community members to curate and contributes digital credentials to the data network. The infrastructure supports curating credentials through multiple data sources.
Key facts about Galxe
- Founded Year: 2021
- Location: San Mateo (United States)
- Stage: Series A
- Total Funding till date: $10M
- Employee Count: 102 as on Aug 31, 2026
- Investors: Draper Dragon, Jump Capital and 28 Others
- Latest Funding Round: ICO, Feb 24, 2022, $*****
- Highlight: Editors' Pick
Sfermion's Year-on-Year Investment Trends
Sfermion has invested in 147 companies over the last 5 years, with an average of 19 new investments annually in the last 5 years. In 2025, it made 4 investments, while as of Oct 2026, it has made 4 investments in this year. Its most recent first time investment was in Perp Tools and most recent follow-on round was in Solv Finance.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 0 | 4 |
2025 | 4 | 0 | 4 |
2024 | 18 | 3 | 21 |
2023 | 19 | 1 | 20 |
2022 | 36 | 0 | 36 |
2021 | 20 | 0 | 20 |
Sfermion's Investments by Stage
Sfermion has made 69 investments in Seed stage with an average round size of $5.22M, 25 investments in Series A stage with an average round size of $10.8M, 6 investments in Series B stage with an average round size of $19.1M and 1 investment in ICO stage.Stage of entry | No. of Investments |
|---|---|
Seed | 69 |
Series A | 25 |
Series B | 6 |
ICO | 1 |
Note: We have considered here, only first round of investments
Sfermion's Investments by Sector
Sfermion has a diverse portfolio, with companies operating in the High Tech, Blockchain Technology, Blockchain - Industry Applications, FinTech and Gaming. Notably, it has invested in 133 Tech companies, 107 Consumer (B2C) companies, 96 Blockchain companies and at least 46 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
High Tech | 66 |
Blockchain Technology | 63 |
Blockchain - Industry Applications | 58 |
FinTech | 56 |
Gaming | 31 |
Others | 75 |
Note: We have considered here, only first round of investments
Sfermion's Investments by Geography
Sfermion has made most investments in United States (57), followed by United Kingdom where it has made 8 investments.Country | No. of Investments |
|---|---|
United States | 57 |
United Kingdom | 8 |
Singapore | 5 |
China | 4 |
Australia | 3 |
Others | 22 |
Note: We have considered here, only first round of investments
Sfermion's recent investments
Sfermion has made 4 investments in 2026 so far. Perp Tools and KOR Protocol are the latest among them.Here are the most recent investments by Sfermion:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 01, 2026 | Spain | Seed | 9321 | [+3] | |
Jul 07, 2026 | United Arab Emirates | Series A | 7040 | [+7] | |
Apr 29, 2026 | United States | Series A | 7395 | [+14] | |
Jan 18, 2026 | Switzerland | Seed | 9755 | [+8] | |
Mar 27, 2025 | United States | Series A | 8022 | [+5] |
Unicorns in Sfermion's Portfolio
Sfermion has 2 unicorns in its portfolio - Immutable and Sorare. The most recent unicorn in their portfolio is Immutable. It became a unicorn in 2022, 4 years before Sfermion first invested in it.Here is a list of unicorns in Sfermion's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
69 | Blockchain-based infrastructure for NFT games and applications | 2018 | Sydney | Series C | gkybryd | ||
66 | Provider of blockchain-powered fantasy sports marketplace for a variety of sports | 2018 | Saint Mande | Series B | afapnli |
Acquired companies in Sfermion's Portfolio
5 companies from Sfermion's portfolio have been acquired. The most recent acquisition was Lolli in Jul 2025 by Thesis for $*****.Here are Sfermion's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 02, 2025 | Dec 14, 2023 | Series B | 3891 | |
Dec 12, 2023 | - | - | 6300 | |
Feb 23, 2023 | Jan 19, 2022 | Seed | 6683 | |
Dec 06, 2022 | Dec 06, 2021 | Seed | 4220 | |
Sep 27, 2022 | Feb 02, 2024 | Seed | 7906 |
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Team profile of Sfermion
Sfermion has a team of 7 members including 5 Partners and 2 Principals located in United States and Philippines. Sfermion's team does not sit on the board of any company as of now.Here is a list of all team members in Sfermion:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United States | - | ||
Partner | Denver | - | ||
Partner | Chicago | - | ||
Partner | Los Angeles | - | ||
Partner | Philippines | - | ||
Principal | Austin | - | - | |
Principal | United States | - | - |
Co-investors of Sfermion
Over the past 5 years, 761 investors have co-invested in Sfermion's portfolio companies. This includes funds and angels.
- Invested before Sfermion: Mechanism Capital, Animoca Brands and 149 others have invested in rounds before Sfermion. There are 3 companies where Mechanism Capital has invested before Sfermion and 2 companies where Animoca Brands has invested before Sfermion.
- Top Co-investors of Sfermion: 513 investors entered a company along with Sfermion. These include investors like Animoca Brands (25 companies).
- Invested after Sfermion: A total of 97 investors have invested in Sfermion's portfolio after their investments. Top Investors include Mirana (2 companies), Binance (2 companies) and OKX (2 companies).
Recent News related to Sfermion
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KOR Protocol Raises $7.5 Million Series A to Build Creative Asset ClearinghouseGlobeNewswire•Jul 07, 2026•KOR Protocol, 1kx, Alumni Ventures, Animoca Brands and 3 others
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GOAT Gaming lands US$4M to scale AI-driven Web3 gaming on Telegrame27•Feb 03, 2025•GOAT Gaming, Ton Ventures, Karatage, Bitscale and 24 others
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Vivident Secures $1.5M Seed Funding to Launch AI-Powered Virtual Character PlatformThenewscrypto•Jan 21, 2025•CMCC Global, Vivident, Hashed, Mashup Ventures and 6 others
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Blockchain-based animation platform Oshi completes $12.5 million financing, led by Polychain Capital and othersPANews•Jan 20, 2025•Polychain, Superscrypt, Folius Ventures, Sfermion and 3 others
