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LuneX Ventures
LuneX Ventures is a crypto-native fund spun out of Golden Gate Ventures in 2018, led by Kenrick Drijkoningen and anchored in Singapore.
LuneX Ventures
LuneX Ventures formed in 2018 when Kenrick Drijkoningen, previously a partner at Golden Gate Ventures, convinced the firm to back a standalone vehicle exclusively for crypto. Golden Gate had raised over $175 million across multiple funds for Southeast Asian tech, but its LPs wanted a ring-fenced structure for token investments. Drijkoningen set up LuneX as an independent manager with Golden Gate as the anchor LP, giving him autonomy while retaining access to the parent firm's regional deal flow and LP relationships. The fund writes equity and token checks into early-stage blockchain companies, with a focus on layer-1 and layer-2 infrastructure, decentralized finance (DeFi), and Web3 gaming. Stage coverage spans seed through Series A, with initial checks typically between $250,000 and $1 million. Confirmed portfolio names include Bitkub, the Thai digital-asset exchange that secured a strategic investment from Siam Commercial Bank, and Band Protocol, a cross-chain data oracle that launched on Binance Launchpad in 2019. Geographic emphasis sits on Southeast Asia and emerging markets, though the mandate is global and includes European and North American deals when sourced through crypto-native networks. LuneX raised a targeted $25 million for its debut fund, with Golden Gate Ventures as the cornerstone LP alongside a mix of family offices and sector-specific allocators (per The Business Times, 2018). The firm operates from Golden Gate's Singapore office, sharing back-office resources but maintaining a separate investment committee. In May 2024, LuneX marked its sixth anniversary as an active early-stage blockchain investor, with Drijkoningen publicly reinforcing the firm's commitment to Southeast Asian crypto infrastructure projects. LuneX's defining structural difference is its origin as a deliberate spin-out rather than an organic fund launch. By operating under a Golden Gate Ventures umbrella yet running independent investment decisions, the fund blended the regulatory and operational infrastructure of an established VC with the nimbleness required to hold liquid tokens, write SAFT agreements, and participate in validator networks — a hybrid that few Asia-based crypto funds matched at launch.
General information
Firm type
Venture Capital
Year founded
2018
AUM
Sub-$100M (Altss estimate)
Location
Region
Asia
Country
Singapore
City
Singapore
Corporate office
Singapore
Principals
Kenrick Drijkoningen
Founding Partner
Sector focus
Frequently asked questions
How did LuneX Ventures originate, and what is its relationship with Golden Gate Ventures?
LuneX spun out of Golden Gate Ventures in 2018 when Kenrick Drijkoningen, then a partner at Golden Gate, proposed a separate crypto-focused vehicle. Golden Gate became the anchor LP for LuneX's first fund, providing back-office infrastructure and regional deal access while granting LuneX full investment independence. The two firms share a Singapore office but operate separate investment committees and fund structures.
Does LuneX invest via equity, tokens, or both?
LuneX deploys through both equity and token instruments — writing traditional venture equity checks alongside SAFT agreements and direct token purchases. This dual-structure approach lets the firm hold positions through liquidity events that pure-equity VCs cannot access, while still securing board rights and governance in core infrastructure deals.
What is LuneX's typical check size and stage focus?
The firm writes initial checks between $250,000 and $1 million, typically at seed or Series A stages. While the mandate includes follow-on reserves, LuneX publicly positions itself as a first-check investor in early-stage blockchain infrastructure and decentralized application projects.
Which geographies does LuneX prioritize for deals?
Southeast Asia forms the core geographic focus — deals like Bitkub in Thailand and Band Protocol, founded by Thai developers — but the fund casts a global net when sourcing through crypto-native networks. Confirmed investments include teams based in Europe and North America alongside Asian-founded projects.
Who runs investment decisions at LuneX?
Kenrick Drijkoningen serves as Founding Partner and primary decision-maker for the fund. He previously sourced blockchain deals within Golden Gate Ventures before spinning LuneX out as an independent manager, and he remains the public face of the firm's investment thesis and LP communications.
Does LuneX participate in fund commitments alongside direct deals?
LuneX operates as a direct investment vehicle — writing checks into operating companies and protocol teams rather than committing to other crypto funds. There is no public record of the firm acting as a limited partner in third-party venture or hedge fund structures.
What sectors does LuneX explicitly avoid?
LuneX's public commentary and portfolio composition suggest the firm stays away from speculative token trading, NFT collectibles, and blockchain projects without a clear infrastructure or middleware thesis. The portfolio clusters around developer tooling, data availability layers, and regulated exchange infrastructure, implying a deliberate screen for technical utility over consumer hype.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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