Metalayer Ventures

The three co-founders — Andy Kangpan, David Winton, and Mickey Graham — are the named investment decision-makers. Their backgrounds span large financial institutions, blockchain protocols, and quantitative hedge funds. The firm does not publicly list any other investment professionals.

The firm's website emphasizes the team's decade-plus experience inside the world's largest financial institutions and blockchain protocols as a sourcing advantage. By operating as a first-check investor with deep traditional-finance networks, Metalayer positions itself to see infrastructure-stage blockchain founders before generalist funds do.

Metalayer presents itself as a venture capital firm making high-conviction, first-check investments. There is no public indication of a syndicate or rolling-fund structure. The portfolio companies listed suggest traditional direct equity investments.

The firm explicitly targets early-stage companies — pre-seed and seed rounds. Its website uses the phrase 'first-check venture capital firm.' Portfolio positions in Hidden Road and Ethena are consistent with early-stage involvement, though specific round-level details are not disclosed on the firm's site.

The firm does not publish a negative screen. However, the portfolio is concentrated entirely in financial infrastructure layers — clearing, settlement, execution venues, stablecoin liquidity, and yield primitives. Consumer-facing or non-financial blockchain applications do not appear among disclosed holdings.