Dispersion Capital

ActiveVenture Capital

Updated: Dec 5, 2025 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 10, 2026	GenFlux	$4.2M Seed	Symbolic Capital	Borderless Capital, Delphi Ventures, Frachtis, Glasswing Ventures, Radical Ventures
Jun 1, 2025	Zoot	$6.0M Seed	—	Andreessen Horowitz, Angel investor, Archetype, Blisce, Bond, Bow Capital, Caffeinated Capital, Chapter One Ventures, Coatue, CoinFund, Compound, Craft Ventures, Dreamers VC, Electric Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, North Island Ventures, Paradigm, Reform Ventures, Roosh Ventures, Sound Ventures, The Hit Forge, Thirty Five Ventures, Union Square Ventures, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Jeff Morris, Mark Pincus, Matt Bellamy, Rashaun Williams, William Mougayar
May 1, 2025	SeqOne Genomics	$23.0M Venture Round	—	Elaia Partners, Khosla Ventures, Mayfield, Partech Ventures
Apr 1, 2025	Thatch	$40.0M Series B	—	2.12 Angels, AAF Management Ltd., Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Brainchild, Coinbase Ventures, Matt Ocko, DFJ, Digital Currency Group, Dimension Capital, Dreamers VC, Founders Fund, General Catalyst, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Kindred Ventures, Locus Ventures, LombardStreet Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Oyster Ventures, Pantera Capital, South Park Commons, The General Partnership, The Hit Forge, Third Kind Ventures, Uncork Capital, Verified Capital, Balaji Srinivasan, Ben Davenport, Chris Kelly, George Burke, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Kaushik Subramanian, Mo El-Bibany, Shervin Pishevar
Feb 1, 2025	Hidden Level	$65.0M Series C	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Founders Fund, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Shervin Pishevar
Sep 1, 2024	Thatch	$38.0M Series A	—	2.12 Angels, AAF Management Ltd., Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Brainchild, Coinbase Ventures, Matt Ocko, DFJ, Digital Currency Group, Dimension Capital, Dreamers VC, Founders Fund, General Catalyst, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Kindred Ventures, Locus Ventures, LombardStreet Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Oyster Ventures, Pantera Capital, South Park Commons, The General Partnership, The Hit Forge, Third Kind Ventures, Uncork Capital, Verified Capital, Balaji Srinivasan, Ben Davenport, Chris Kelly, George Burke, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Kaushik Subramanian, Mo El-Bibany, Shervin Pishevar
Jul 1, 2023	Nexla	$18.0M Series A	—	AME Cloud Ventures, AperiamVentures, Blumberg Capital, Correlation Ventures, Darling Ventures, Engineering Capital, Hardware Club, Taylor Brandt, Heavybit, Industry Ventures, Sequoia Capital, Storm Ventures, Touchdown Ventures, XStarPartners, Anshu Sharma, Dean Drako, Somik Behera
Jul 1, 2023	Whop	$17.0M Series A	—	ACME Capital, Andreessen Horowitz, Angel investor, Archetype, Bain Capital Ventures, Bessemer Venture Partners, Blisce, Bond, Bow Capital, Caffeinated Capital, Chapter One Ventures, Coatue, CoinFund, Compound, Cowboy Ventures, Craft Ventures, Draper Associates, Dreamers VC, Electric Capital, Floodgate, Founders Fund, Fubu, Generative Ventures, Goat Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, LGF, Lightbank, Lowercarbon Capital, Maveron, Menlo Ventures, North Island Ventures, Paradigm, Pareto Holdings, Polychain Capital, Reform Ventures, REMUS Capital, Roosh Ventures, Silicon Valley Connect, Sound Ventures, Stash Ventures, The Fintech Fund, The Hit Forge, Thirty Five Ventures, Toyota Ventures, Union Square Ventures, Viola Ventures, Volition Capital, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Cory Levy, Gloria Baeuerlein, Griffin Johnson, Jeff Morris, Justin Mateen, Kevin O'Leary, Koen Bok, Mark Cuban, Mark Pincus, Matt Bellamy, Paul Veugen, Peter Jones, Prescott Watson, Rashaun Williams, Russell Smith, Scott Belsky, Shervin Pishevar, Steve Lee, Stewart Butterfield, Tuomas Artman, William Mougayar
Jun 1, 2023	SiMa.ai	$13.0M Series B	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Founders Fund, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Shervin Pishevar
May 1, 2023	Measurabl	$93.0M Series D	—	AME Cloud Ventures, Camber Creek, CapitalG, Citi Ventures, Concrete Ventures, Crosscut Ventures, Energy Impact Partners, Hardware Club, Heavybit, N49P Ventures, Pareto Holdings, Storm Ventures, Techstars, Touchdown Ventures, Two Small Fish Ventures, XStarPartners, Y Combinator, Dean Drako, Haroon Mokhtarzada, Immad Akhund, Jeff Seibert, Juha Paananen, Louis Beryl, Ray Wirta, Somik Behera, Wayne Chang
Apr 1, 2023	Noya	$22.0M Series A	—	Andreessen Horowitz, Angel investor, Archetype, Blisce, Bond, Bow Capital, Caffeinated Capital, Chapter One Ventures, Coatue, CoinFund, Sophie Bakalar, Collaborative Fund, Compound, Craft Ventures, Dreamers VC, Electric Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, North Island Ventures, Paradigm, Presight Capital, Reform Ventures, Roosh Ventures, Sound Ventures, The Hit Forge, Thirty Five Ventures, Union Square Ventures, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Jeff Morris, Mark Pincus, Matt Bellamy, Rashaun Williams, William Mougayar
Feb 1, 2023	Thatch	$6.0M Seed	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Founders Fund, FPV Fund, Goodwater Capital, Greylock, GV, Hardware Club, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Ayman AlAbdallah, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Shervin Pishevar
Jun 1, 2022	Talkiatry	$75.0M Series B	—	Andreessen Horowitz, Angel investor, Archetype, Blackbird Ventures Australia, Blisce, Bond, Bow Capital, Caffeinated Capital, Camber Creek, Chapter One Ventures, Coatue, CoinFund, Compound, Craft Ventures, Dreamers VC, Electric Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, LombardStreet Ventures, North Island Ventures, Paradigm, Practical Venture Capital, PS Investments, Reform Ventures, Roosh Ventures, Sound Ventures, The Hit Forge, Thirty Five Ventures, Union Square Ventures, XFactor Ventures, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Jeff Morris, Mark Pincus, Matt Bellamy, Rashaun Williams, William Mougayar
Jun 1, 2022	Immuta	$100.0M Series E	—	Acrew Capital, AllegisCyber Capital, Bain Capital Ventures, Dell Technologies Capital, DFJ, DNX Ventures, Emergence Capital, F-Prime Capital Partners, Insight Partners, Intel Capital, Gadi Porat, March Capital, Oyster Ventures, Pear VC, Sapphire Ventures, Snowflake Ventures, SYN Ventures, Ten Eleven Ventures, UpHonest Capital, Volition Capital, Deepak Jeevan Kumar, Jaan Tallinn, Lily Sarafan, Pankaj Patel, Tom Williams
Apr 1, 2022	One More Game	$22.0M Series A	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Founders Fund, Goodwater Capital, Greylock, Griffin Gaming Partners, Hardware Club, Infinity Ventures Crypto, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Kristian Segerstrale, Ryan Wyatt, Shervin Pishevar, Thomas Vu
Mar 1, 2022	Syndicate	$6.0M Venture Round	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Founders Fund, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Shervin Pishevar
Feb 1, 2022	Balbix	$70.0M Series C	—	Alumni Ventures, BITKRAFT Ventures, Cantos Ventures, DCM, Ali Tamaseb, Elaia Partners, Innovation Endeavors, Invariantes Fund, Inventus Capital Partners, Khosla Ventures, Mayfield, Partech Ventures, Prime Movers Lab, Redline Capital, Third Point Ventures, Venrock, Pankaj Patel
Jan 1, 2022	Ironclad	$150.0M Series E	—	Kevin Hartz, Accel, Album VC, Alt Capital, Alven, Amplify Partners, Andreessen Horowitz, Angel investor, Archetype, Arrive, Ascend Vietnam Ventures, Bain Capital Ventures, Basis Set Ventures, Benchmark, Bling Capital, Blisce, Bond, Bow Capital, BoxGroup, Caffeinated Capital, Chapter One Ventures, CITG Capital, Coatue, CoinFund, Compound, Cowboy Ventures, Craft Ventures, CRV, Dreamers VC, Dream Machine, Electric Capital, Flexsteel Industries Inc., Founder Collective, Franklin Templeton Investments, Freestyle Capital, Global Founders Capital, Graph Ventures, Greenoaks Capital, Griffin Gaming Partners, Helium-3 Ventures, Index Ventures, Inspired Capital, Khosla Ventures, Liquid 2 Ventures, Lux Capital, Matrix, North Island Ventures, Hans Tung, Outcast Ventures, Paradigm, Peterson Partners, Presence Capital, Reform Ventures, Roosh Ventures, Sapphire Ventures, Sarah Smith Fund, SciFi VC, Sequoia Capital, SNR, Social Capital, Soma Capital, Sound Ventures, Summit Partners, The Hit Forge, Thirty Five Ventures, Thrive Capital, Tribe Capital, Two Sigma Ventures, Union Square Ventures, Upside Partnership, Y Combinator, Yes VC, Aaron Harris, Andre Iguodala, Arash Ferdowsi, Balaji Srinivasan, Bart Swanson, Bernard Arnault, Bill Tai, Claire Hughes Johnson, Eric Wu, Evan Lee, Frederic Kerrest, Jeff Morris, Jenna Hannon, Jonathan Shipman, Joshua Reeves, Julia Hartz, Kevin Lin, Mark Pincus, Mathilde Collin, Matt Bellamy, Michael Birch, Othman Laraki, Rashaun Williams, Sahin Boydas, Scott Belsky, Theresa Johnson, Tony Xu, William Mougayar
Dec 1, 2021	Envoy	$110.0M Series C	—	Andreessen Horowitz, Angel investor, Archetype, Benchmark, Blisce, Bond, Bow Capital, Caffeinated Capital, Chapter One Ventures, Cherubic Ventures, Coatue, CoinFund, Compound, Cota Capital, Craft Ventures, Dreamers VC, Electric Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, Menlo Ventures, NewView Capital, North Island Ventures, Not Boring Capital, Paradigm, Pear VC, Prototype Capital, Reform Ventures, Roosh Ventures, Seven Seven Six, Sherpalo Ventures, Sound Ventures, The Hit Forge, Thirty Five Ventures, Union Square Ventures, Y Combinator, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Bob Meese, Chung-Man Tam, Jeff Morris, Kevin Lin, Mark Pincus, Matt Bellamy, Rashaun Williams, Sam Altman, Steve Chen, William Mougayar
Dec 1, 2021	Multis	$7.0M Series A	—	2.12 Angels, Kevin Hartz, Alchemy Ventures, Ambush Capital, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Awesome People Ventures, Batalion Capital, Bond, Bridge Latam, Broadstone, Capital Factory, Coinbase Ventures, Matt Ocko, DFJ, Dreamers VC, Forerunner Ventures, Form Capital, Founders Fund, Goodwater Capital, Greylock, Hack VC, Hardware Club, Haun Ventures, HawksHead Capital, IDEO CoLab Ventures, Investo, Shawn Modarresi, Latitud, Lightspeed Venture Partners, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Not Boring Capital, Off the Grid Ventures, Ben Huh, Pantera Capital, Pharos Capital Group, Redpoint Ventures, Robot Ventures, Scalar Capital, Sequoia Capital, Seven Seven Six, Soma Capital, Sound Ventures, South Park Commons, The Hit Forge, Timespan Ventures, Todd and Rahul's Angel Fund, Tusk Venture Partners, Uncork Capital, Union Square Ventures, Verified Capital, Alfonso De los Rios, Anthony Pompliano, Balaji Srinivasan, Bobby Goodlatte, Chris Kelly, Chris Kurdziel, Courtney Guertin, Ethan Beard, Fernando Martinelli, Itamar Lesuisse, James Hong, Jared Leto, Jay Z, Jeff Seibert, Jess Sloss, Joe Stump, John Hennessy, Michael Dunworth, Mike Hennessey, Narendra Rocherolle, Paul Stamatiou, Reggie James, Ricky Engelberg, Sahin Boydas, Scott Belsky, Shervin Pishevar, Shishir Mehrotra, Stani Kulechov, Tegan Kline, William Boebel
Dec 1, 2021	Cequence Security	$60.0M Series C	—	AME Cloud Ventures, Hardware Club, Heavybit, Menlo Ventures, Polaris Partners, Storm Ventures, Ten Eleven Ventures, Touchdown Ventures, XStarPartners, Dean Drako, Somik Behera
Nov 1, 2021	Forte	$730.0M Series B	—	Griffin Gaming Partners, Translink Capital
Nov 1, 2021	Faze	$17.0M Seed	—	Andreessen Horowitz, Angel investor, Archetype, Blisce, Bond, Bow Capital, Caffeinated Capital, Chapter One Ventures, Coatue, CoinFund, Compound, Craft Ventures, Dreamers VC, Electric Capital, Graph Ventures, Griffin Gaming Partners, Helium-3 Ventures, North Island Ventures, Paradigm, Reform Ventures, Roosh Ventures, Sound Ventures, The Hit Forge, Thirty Five Ventures, Union Square Ventures, Yes VC, Andre Iguodala, Balaji Srinivasan, Bill Tai, Jeff Morris, Mark Pincus, Matt Bellamy, Rashaun Williams, William Mougayar
Nov 1, 2021	Bitrise	$60.0M Series C	—	Elaia Partners, Insight Partners, Khosla Ventures, Mayfield, Partech Ventures
Oct 1, 2021	Nexla	$12.0M Series A	—	AME Cloud Ventures, AperiamVentures, Blumberg Capital, Correlation Ventures, Darling Ventures, Engineering Capital, ff Venture Capital, Founders Fund, Hardware Club, Taylor Brandt, Heavybit, Industry Ventures, Paradigm, Sequoia Capital, Storm Ventures, Touchdown Ventures, XStarPartners, Anshu Sharma, Dean Drako, Somik Behera

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Dispersion Capital.

Patrick Chang

Investor

Leadership Team

Key people at Dispersion Capital.

Patrick Chang

Investor

Deep Dive

High-Level Overview

Dispersion Capital is an early-stage venture capital firm dedicated to investing in decentralized infrastructure and web3 technologies. Its mission is to pioneer a multichain, multi-currency, and multi-platform world by backing foundational technologies that enable decentralized businesses to flourish. The firm focuses on building tools and platforms that empower developers to create scalable, secure, and accessible decentralized applications, addressing gaps in blockchain infrastructure. Key sectors include fintech, gaming infrastructure, security, data, and platforms challenging legacy industries. Dispersion Capital has invested in over 20 companies, many of which have secured follow-on financing, indicating strong growth momentum and impact on the startup ecosystem by enabling the next generation of web3 applications[1][2][3].

Origin Story

Founded by Patrick Chang, a seasoned venture capitalist with deep expertise in blockchain and web3, Dispersion Capital emerged from his experience leading Samsung Next’s blockchain investments. Chang played a pivotal role in backing early web3 powerhouses such as Dapper Labs, Flow, and Alchemy. Established around 2023, the firm evolved to focus specifically on decentralized infrastructure beyond protocols and networks, aiming to support platforms and tools that unlock blockchain’s full potential for developers. This focus reflects Chang’s vision to replicate transformative moments like ChatGPT in AI, but within blockchain technology[1][3].

Core Differentiators

Unique Investment Model: Concentrates on early-stage (pre-seed and seed) investments in decentralized infrastructure, targeting foundational layers of web3.
Network Strength: Leverages Patrick Chang’s extensive background and connections in the blockchain ecosystem, including prior investments in leading web3 startups.
Track Record: Portfolio includes over 20 companies with strong follow-on funding, demonstrating a successful early-stage investment strategy.
Operating Support: Provides more than capital by actively supporting founders with strategic advice, business development, and introductions to key partners and talent.
Focus on Developer Tools: Invests in projects that enhance developer experience through robust architecture, cybersecurity, privacy tech, decentralized identity, and cryptography[1][3].

Role in the Broader Tech Landscape

Dispersion Capital is riding the wave of web3 and decentralized infrastructure growth, a trend driven by the increasing demand for trustless, open, and scalable blockchain applications. The timing is critical as thousands of developers enter the space, but infrastructure maturity lags behind. By focusing on the foundational layers—such as fintech infrastructure, gaming, security, and data platforms—Dispersion Capital is helping to build the essential scaffolding for mass adoption of decentralized technologies. This aligns with broader market forces favoring decentralization, transparency, and democratization of technology, positioning the firm as a key enabler in the evolving blockchain ecosystem[1][3].

Quick Take & Future Outlook

Looking ahead, Dispersion Capital is poised to continue expanding its portfolio in decentralized infrastructure, potentially increasing fund size and influence as web3 adoption accelerates. Trends such as multichain interoperability, privacy enhancements, and decentralized identity will likely shape their investment focus. The firm’s active founder support and strategic network position it to remain a critical player in nurturing startups that will define the next phase of blockchain innovation. Dispersion Capital’s vision to enable a multi-platform, multi-currency decentralized future suggests its influence will grow alongside the maturation of web3 infrastructure[1][3].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Concentrates on early-stage (pre-seed and seed) investments in decentralized infrastructure, targeting foundational layers of web3.
Network Strength: Leverages Patrick Chang’s extensive background and connections in the blockchain ecosystem, including prior investments in leading web3 startups.
Track Record: Portfolio includes over 20 companies with strong follow-on funding, demonstrating a successful early-stage investment strategy.
Operating Support: Provides more than capital by actively supporting founders with strategic advice, business development, and introductions to key partners and talent.
Focus on Developer Tools: Invests in projects that enhance developer experience through robust architecture, cybersecurity, privacy tech, decentralized identity, and cryptography[1][3].