# Phantom

Phantom is an Asset Manager based in San Francisco, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** phantom.com
- **LinkedIn:** https://www.linkedin.com/company/3504226

## Regulatory record

- **Reports private funds:** No

## About

Phantom is a San Francisco-based company founded in 2021. It offers a multi-chain crypto wallet and web3 tools, allowing users to buy, trade, store, and manage cryptocurrency assets. The platform provides features such as NFT marketplace access, token swapping, and self-custodial security.

## Sectors

- FinTech
- AI/ML

## People

- Brandon Millman — CEO
- Francesco Agosti — CTO
- Chris Kalani — CPO
- Donnie Dinch — VP of Strategy

## Questions

### Who runs investment decisions at Phantom?

Phantom does not make investment decisions in the GP sense because it is not an investment firm. Strategic capital allocation decisions rest with CEO Brandon Millman and the executive team. The $150 million Series C raise in January 2025 was led by Sequoia and Paradigm and is directed at product development, not fund deployment.

### How does Phantom source revenue?

Phantom earns revenue primarily through a small fee on in-app token swaps. The platform also generates income from the Phantom Visa debit card program, though the card is issued by Lead Bank under a fintech partnership. There is no management fee or carried interest component.

### Which blockchains does Phantom support?

Phantom began as a Solana-only wallet and has since added support for Ethereum, Bitcoin, and Polygon. The multichain architecture allows users to manage assets across several major L1s and L2s from a single interface.

### How is Phantom's Visa card structured?

The Phantom prepaid Visa debit card is issued by Lead Bank, with Bridge Ventures LLC serving as program manager. Phantom acts as the platform provider that handles the application and user interface layer. User funds held for card spending are distinct from self-custodied wallet assets.

### What is Phantom's posture on self-custody versus platform control?

Phantom is explicitly self-custodial, meaning the company never holds or controls user private keys or funds. This contrasts with centralized exchanges that manage customer assets on a custodial basis. The wallet's security model includes scam detection and Ledger hardware-wallet integration.

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Last updated: 2026-06-03T20:00:00.000Z

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