1confirmation

# 1confirmation – Supporting Teams Fueling the Decentralization of the Web and Society

High-Level Overview

1confirmation is a leading venture capital firm founded in 2017 by Nick Tomaino, dedicated to empowering founders who are advancing the decentralization of the web and society. The firm’s mission centers on backing early-stage startups in the blockchain, cryptocurrency, and Web3 sectors, with a focus on open networks that shift power and value from centralized institutions to individuals. 1confirmation’s investment philosophy is rooted in identifying transformational technologies and supporting founders with both capital and strategic guidance, often serving as one of the first institutional investors in pioneering crypto projects.

With over $1 billion in assets under management and a portfolio that includes industry-defining companies like OpenSea, Coinbase, dYdX, and Nexus Mutual, 1confirmation has played a pivotal role in shaping the modern crypto ecosystem. The firm invests across seed, Series A, and Series B stages, prioritizing projects that drive innovation in decentralized finance (DeFi), NFTs, infrastructure, and digital ownership. Its impact is evident in the growth and global adoption of its portfolio companies, many of which have become foundational players in the Web3 movement.

Origin Story

1confirmation was founded in 2017 by Nick Tomaino, a respected figure in the crypto and venture capital communities. Tomaino’s early career included roles at Andreessen Horowitz, where he led investments in blockchain and fintech, giving him deep insight into the emerging crypto landscape. Recognizing the transformative potential of decentralized technologies, he launched 1confirmation to focus exclusively on early-stage crypto ventures.

From its inception, the firm has been based in the San Francisco Bay Area, leveraging Silicon Valley’s entrepreneurial energy and proximity to top technical talent. Over the years, 1confirmation has evolved from a small, founder-led fund into a major force in crypto venture capital, raising increasingly larger funds—including a $125 million third fund in 2021. The firm’s early backers include notable figures like Mark Cuban, Marc Andreessen, Balaji Srinivasan, and Brendan Eich, underscoring its credibility and influence within the tech and crypto worlds.

Core Differentiators

• Early-Stage Focus: 1confirmation specializes in seed and early-stage investments, often being the first institutional backer for groundbreaking crypto startups.
• Deep Crypto Expertise: The team combines venture capital experience with deep technical and operational knowledge of blockchain and decentralized systems.
• Founder-Centric Approach: The firm emphasizes building strong, long-term partnerships with founders, offering not just capital but also strategic advice, industry connections, and hands-on support.
• Proven Track Record: With investments in market leaders like OpenSea, Coinbase, and dYdX, 1confirmation has a demonstrated ability to identify and nurture high-impact projects.
• Network Strength: Backed by influential tech and crypto leaders, the firm provides portfolio companies with access to a powerful network of advisors, investors, and potential partners.

Role in the Broader Tech Landscape

1confirmation is at the heart of the Web3 revolution, riding the wave of decentralization that is reshaping how value, data, and ownership are distributed online. The firm’s timing has been critical—launching just as blockchain technology began to mature and attract mainstream attention. Market forces such as the rise of DeFi, NFTs, and decentralized identity have created fertile ground for 1confirmation’s portfolio companies to thrive.

By supporting open networks and decentralized protocols, 1confirmation is helping to build a more resilient, transparent, and user-controlled internet. Its influence extends beyond individual startups, contributing to the broader adoption of blockchain technology and the development of new economic models that empower individuals over institutions.

Quick Take & Future Outlook

Looking ahead, 1confirmation is well-positioned to continue shaping the future of Web3 as the ecosystem matures and expands into new domains like AI, decentralized social media, and digital ownership. The firm’s focus on early-stage innovation and its deep ties to the crypto community will remain key advantages as new technologies emerge.

As regulatory frameworks evolve and institutional interest in crypto grows, 1confirmation’s role as a bridge between traditional venture capital and the decentralized world will become even more important. The firm’s ability to spot and support the next generation of transformative founders will likely cement its legacy as a cornerstone of the Web3 movement.

In a world where the decentralization of the web and society is no longer a fringe idea but a driving force of technological change, 1confirmation stands as a vital catalyst—backing the teams that are building the future, one open network at a time.