ABCDE Capital

Co-founders Du Jun and Bman jointly manage the investment committee. Du Jun brings operator perspective from co-founding Huobi, while Bman contributes years of early-stage crypto investing and ecosystem-building. The pair have not disclosed additional investment partners, suggesting a flat decision-making structure common among thesis-concentrated crypto-native funds.

ABCDE leverages Du Jun's deep integration with the exchange layer to identify infrastructure gaps that need filling — when a chain or protocol underperforms on liquidity or settlement, the team often knows before public markets react. They also run a zero-knowledge research fellowship that embeds them directly in academic and open-source contributor communities, generating early visibility into breakthroughs before formal company formation.

ABCDE deploys entirely through direct equity and token warrant structures. The firm does not publicly list any fund-of-funds activity or LP commitments to external crypto venture funds, consistent with its posture as a concentrated, high-conviction direct investor focused on early-stage Web3 infrastructure.

The firm concentrates on seed and Series A rounds, typically leading or co-leading with check sizes reported in the $1M to $3M range for initial positions. ABCDE has also participated in later-stage strategic rounds for existing portfolio companies, but its entry point is overwhelmingly at the pre-product or early-mainnet stage.

ABCDE has not publicly announced explicit sector exclusions, but its portfolio reveals a consistent avoidance of consumer-facing NFT platforms, metaverse land projects, and speculative memecoin infrastructure. The firm's capital flows almost exclusively into core protocol and middleware layers — data availability, execution environments, ZK-proving systems, and decentralized physical infrastructure.

The firm maintains legal entities in the United States (with a presence in San Francisco, Palo Alto, and New York) and in Berlin, Germany. This dual-hemisphere structure is designed to accommodate founder teams in both North American and European time zones and to navigate the distinct regulatory landscapes for token investments in each jurisdiction.

ABCDE co-invests actively alongside other crypto-native venture firms, particularly Polychain Capital and Hack VC, in shared infrastructure deals. The firm does not operate a formal co-investor club, but its deal-level syndicate patterns suggest a repeat-player network concentrated among funds with similarly deep technical research capabilities.