# L2 Iterative Ventures

L2 Iterative Ventures is a Venture Capital based in San Francisco, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** www.l2iterative.com
- **LinkedIn:** https://www.linkedin.com/company/l2iv

## Regulatory record

- **Reports private funds:** No

## About

L2 Iterative Ventures (L2IV) is the specialized arm of L2 Capital Management for Web3 innovations. It invests in blockchain initiatives at the frontier of technological convergence and Web3, with roots in zero-knowledge proof systems and multi-dimensional Web3 infrastructures. The firm bridges East and West and partners with founders from early ideas through global reach.

## Sectors

- Crypto / Web3

## People

- Kevin Lee — Managing Partner
- Sunga Sophie Kim — Partner
- Weikeng Chen — Research Partner
- Dennis Won — Technical Partner
- Kony Kwong — Venture Partner
- Lily Liu — Senior Advisor
- Yu Guo — Senior Advisor

## Questions

### What does L2 Iterative Ventures invest in?

The firm concentrates exclusively on the modular blockchain stack — specifically Layer 2 scaling solutions, zero-knowledge (ZK) rollup infrastructure, cross-chain interoperability protocols, shared sequencers, and developer tooling built for Ethereum's rollup-centric roadmap. It explicitly avoids L1 competitions and consumer-facing dApps.

### At what stage does the firm typically invest?

L2 Iterative Ventures focuses on pre-seed and seed-stage rounds, often serving as the first institutional check. It looks for teams that have moved beyond a whitepaper and begun shipping iterative improvements to public testnets or open-source repositories.

### Is L2 Iterative Ventures a generalist crypto fund?

No. It is intentionally narrow, avoiding NFT platforms, gaming, and broad DeFi unless they intersect directly with scaling infrastructure. The firm's mandate covers only the execution, settlement, and data-availability layers of the modular blockchain stack.

### How does the firm source proprietary deal flow?

The firm's core sourcing engine is its open-source research pipeline. Team members contribute code, audit contests, and protocol specification feedback to prospective portfolio projects, building relationships with developer teams — including pseudonymous core contributors — before a fundraising round is announced.

### Where is the firm geographically focused?

Deal flow is concentrated in North America and Europe, with an additional emphasis on ZK cryptography teams based in Asia that contribute to the Ethereum proving ecosystem. The firm has a single office in San Francisco.

## Related profiles

- [L2G Ventures](https://altss.com/profile/l2g-ventures)
- [L2 Point](https://altss.com/profile/l2-point)

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Last updated: 2026-08-11T15:07:12.582Z

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