NKM Capital

ActiveVenture Capital

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Updated: Jan 22, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Oct 1, 2025	Archy	$20.0M Series B	—	Bessemer Venture Partners, CRV, RTP Global, TCV, Fidji Simo
Jun 1, 2025	Superscale AI	$5.0M Seed	—	Amino Collective, Balderton Capital, Bessemer Venture Partners, Creandum, CRV, Founders Fund, Motier Ventures, Pareto Holdings, Presight Capital, RTP Global, Seedcamp, TCV, TMV, Amirhossein Malekzadeh, Fidji Simo, Trevor Martin
Oct 1, 2024	Archy	$15.0M Series A	—	Alven, Andreessen Horowitz, Anthemis Group, Bessemer Venture Partners, CRV, Kima Ventures, RTP Global, TCV, Fidji Simo, Henry Kravis, Raphael Vullierme
Dec 1, 2023	Orchid	$12.0M Seed	—	Kevin Hartz, Alchemy Ventures, Andreessen Horowitz, Bessemer Venture Partners, Catalio Capital, CRV, Felicis Ventures, Founder Collective, Goat Capital, Greenoaks Capital, Haun Ventures, Infinite Niches, Infinity Ventures Crypto, Jetstream, Khosla Ventures, Lightspeed Venture Partners, N49P Ventures, Glenn Solomon, Openview Venture Partners, Polychain Capital, Redpoint Ventures, Refactor Capital, RTP Global, TCV, The Hit Forge, Weekend Fund, WorkLife Ventures, Amjad Masad, Andy Coravos, Anne Wojcicki, Balaji Srinivasan, Barr Moses, Dylan Field, Fidji Simo, Gokul Rajaram, Immad Akhund, Julia Hartz, Varsha Rao, Vivek Patel
May 1, 2023	HiNOTE	$2.0M Seed	—	01 Advisors, 10100, 2048 Ventures, 7percent Ventures, 8VC, AME Cloud Ventures, Andreessen Horowitz, Anorak Ventures, Bain Capital Ventures, Bam Ventures, Better Tomorrow Ventures, Blackbird Ventures Australia, BoxGroup, Breakthrough Energy Ventures, Buckhill Capital, Bullpen Capital, Cleo Capital, Conversion Capital, Cupule Ventures, Daffy, Kevin Ding, DST Global, Endure Capital, Felicis Ventures, Fifth Wall, First Round Capital, FJ Labs, Forum Ventures, Foundation Capital, Founders Fund, FPV Fund, General Catalyst, Gutter Capital, Hardware Club, JetBlue Technology Ventures, Long Journey Ventures, Primitive Ventures, QED Investors, Quiet Capital, Ravelin Capital, Saga, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, The Hit Forge, The House Fund, Village Global, Winklevoss Capital, Y Combinator, Bradley Horowitz, Gianni Martire, Joshua Reeves, Lily Sarafan, Marc Benioff, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman, Steve Chen, Zak Kukoff
Jan 1, 2023	Spatial Labs	$10.0M Seed	—	305 Ventures, Accelerator Ventures, American Express Ventures, Arbor Ventures, B Capital Group, Blockchain Capital, Company Capital, Digital Currency Group, Future Perfect Ventures, IGNIA Partners, Shawn Modarresi, Jungle Ventures, LAUNCH, Marcy Venture Partners, Parallax Ventures, Recursive Ventures, RRE Ventures, Thirty Five Ventures, TQ Ventures, Jay Z, Kevin Hart, LeBron James, Odell Beckham Jr., Saad AlSogair, Steve Stoute
Nov 1, 2022	Archy	$6.0M Seed	—	50 Partners, Air Street Capital, Alven, Andreessen Horowitz, Anthemis Group, Bessemer Venture Partners, Big Idea Ventures, CRV, Heartcore Capital, Kima Ventures, Partech Ventures, Point Nine Capital, RTP Global, TCV, Fidji Simo, Henry Kravis, Raphael Vullierme
Jun 1, 2022	UnDosTres	$30.0M Series B	—	305 Ventures, Accelerator Ventures, American Express Ventures, Arbor Ventures, B Capital Group, Blockchain Capital, Company Capital, Dalus Capital, Digital Currency Group, Future Perfect Ventures, IDC Ventures, IGNIA Partners, Jungle Ventures, LAUNCH, Parallax Ventures, Recursive Ventures, RRE Ventures, Velum Ventures, Wayra Hispam, Martin Schrimpff, Saad AlSogair
May 1, 2022	American Cricket Enterprises	$44.0M Series A	—	Kevin Hartz, Afore Capital, Alsop Louie Partners, Alt Capital, Amplify Partners, C2 Investment, Cervin Ventures, Coelius Capital, Electric Capital, Felicis Ventures, Founder Collective, Goat Capital, Inventus Capital Partners, Madrona Ventures, Maven Ventures, Glenn Solomon, Quiet Capital, Rocketship.vc, SAP.iO, Signia Venture Partners, SmartStart Fund, Spark Capital, Trucks Venture Capital, Venture Highway, Y Combinator, Colin Carrier, Emmett Shear, John Collison, Preetha Parthasarathy, Sam Altman, Satya Nadella, Sravish Sridhar, Subrah Iyar, Tikhon Bernstam, Travis Vanderzanden
May 1, 2022	Material Security	$100.0M Series C	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Cyberstarts VC, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, Grove Ventures, Long Journey Ventures, M12, Primitive Ventures, Quiet Capital, Race Capital, Saga, Seven Seven Six, Sherpalo Ventures, Softbank Group, Sound Ventures, Henry Fertik, Susa Ventures, The House Fund, Viola Ventures, Y Combinator, Aryeh Mergi, Gianni Martire, Joshua Reeves, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman, Tony Jamous
Mar 1, 2022	O'hi App	$390K Seed	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, Long Journey Ventures, Primitive Ventures, Quiet Capital, Saga, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, The House Fund, Y Combinator, Gianni Martire, Joshua Reeves, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman
Feb 1, 2022	Starburst	$250.0M Series D	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Accel, Alkeon Capital, AME Cloud Ventures, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Base Ventures, Battery Ventures, B Capital Group, Benchmark, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Coatue, Comal Ventures, Kevin Ding, Dragoneer Investment Group, DST Global, DVx Ventures, Felicis Ventures, First Round Capital, FJ Labs, Flex Capital, Foundation Capital, Founders Fund, FPV Fund, Geek Ventures, Hanabi Capital, Hardware Club, H.I.G. Capital, Insight Partners, Long Journey Ventures, Msd Capital, Primitive Ventures, Quiet Capital, Indranil Guha, Saga, Sapphire Ventures, Sequoia Capital, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Storm Ventures, Henry Fertik, Susa Ventures, The House Fund, Venrock, Y Combinator, Anshu Sharma, Charles Zedlewski, Eric Chernoff, Gianni Martire, Joshua Reeves, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman, Shay Banon, Travis May
Feb 1, 2022	Invact Metaversity	$5.0M Seed	—	3one4 Capital, Antler, C4 Ventures, DFJ, DN Capital, f7 Ventures, FJ Labs, General Catalyst, HV Capital, Kapor Capital, KRM Interests LLC, Jeff Immelt, Nokia Growth Partners, OurCrowd, Shailendra Singh, Picus Capital, SOSV, Marco DeMeireles, Webtalk Ltd, Charlie Songhurst, Joi Ito, Larry Summers
Jan 1, 2022	NachoNacho	$3.0M Seed	—	Altair Capital Management, B Capital Group, Bessemer Venture Partners, Draper Associates, Hack VC, Immeasurable, Oyster Ventures, Paradigm, Ravelin Capital, The Hit Forge, Union Square Ventures, Unpopular Ventures, York IE, Alex Pack, Kyle York, Samvit Ramadurgam
Jan 1, 2022	DashLX	$1.0M Seed	—	305 Ventures, Accelerator Ventures, American Express Ventures, Arbor Ventures, Baselayer VC, B Capital Group, Blockchain Capital, Company Capital, Digital Currency Group, Future Perfect Ventures, IGNIA Partners, Jungle Ventures, LAUNCH, Parallax Ventures, Recursive Ventures, RRE Ventures, Saad AlSogair
Nov 1, 2021	Sleek	$14.0M Series A	—	305 Ventures, Accelerator Ventures, Alven, American Express Ventures, Arbor Ventures, B Capital Group, Blockchain Capital, Company Capital, Digital Currency Group, Entrepreneur First, Future Perfect Ventures, IGNIA Partners, Jungle Ventures, LAUNCH, Parallax Ventures, Recursive Ventures, RRE Ventures, #SecretFund, White Star Capital, Hugues De Braucourt, Pascal Gauthier, Saad AlSogair, Thibaud Elziere
Sep 1, 2021	Abra	$55.0M Series C	—	305 Ventures, Accelerator Ventures, American Express Ventures, Arbor Ventures, Arrive, B Capital Group, Better Tomorrow Ventures, Blockchain Capital, Canaan Partners, Catapult Capital, Citi Ventures, Company Capital, CP Ventures, Digital Currency Group, Endeavor Catalyst, Fifth Wall, F-Prime Capital Partners, Future Perfect Ventures, GFT Ventures, Great Oaks Venture Capital, IGNIA Partners, INVX, Javelin Venture Partners, Jungle Ventures, Kain Capital, LAUNCH, MassMutual Ventures, Menlo Ventures, Outlander Labs, Parallax Ventures, Partech Ventures, Proeza Ventures, Propeller VC, Quona Capital, Recursive Ventures, RRE Ventures, Scrum Ventures, Serena Ventures, Skyriver Ventures, Howard Lindzon, Sommet AB, ThirdLove, TQ Ventures, Unpopular Ventures, Clark Landry, Ding Zhou, Erik Moore, George Burke, John Kobs, Michael Abramson, Ron Suber, Saad AlSogair, Sravish Sridhar, Tony Xu, Varsha Rao, Vitalik Buterin
Sep 1, 2021	Turing College	$1.0M Seed	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, Long Journey Ventures, Primitive Ventures, Quiet Capital, Saga, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, The House Fund, Y Combinator, Gianni Martire, Joshua Reeves, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman
Aug 1, 2021	MINDSET	$9.0M Seed	—	1984 Ventures, 75 & Sunny, Abstract Ventures, AlleyCorp, Ardent Venture Partners, Bain Capital Ventures, B Capital Group, Benchmark, Blossom Capital, Cherubic Ventures, Expa, FJ Labs, Floodgate, Foundation Capital, General Catalyst, Gradient Ventures, Hack VC, Long Journey Ventures, Jared Hecht, NextView Ventures, Oyster Ventures, Paradigm, Pareto Holdings, QED Investors, Sequoia Capital, Smash Capital, SoftBank Investment Advisers, Sound Ventures, SV Angel, The Hit Forge, TQ Ventures, Trust Fund, Union Square Ventures, Unpopular Ventures, Aaron Levie, Adrian Aoun, Alex Pack, Amadeo Brenninkmeijer, Baron Davis, Dylan Field, Eddie Hartman, Eric Ver Ploeg, Eric Wu, Evan Williams, Fabio Cannavale, Gautam Gupta, Gokul Rajaram, Jenna Hannon, Jim Lanzone, Kevin Lin, Konstantin von Unger, rich simoni, Samvit Ramadurgam, Saturnin Pugnet, Scott Banister, Scott Belsky, Steve Chen, Vivek Patel
Jul 1, 2021	Talview	$15.0M Series B	—	3one4 Capital, FJ Labs, KRM Interests LLC, Nokia Growth Partners, OurCrowd, Shailendra Singh, Storm Ventures, Marco DeMeireles, Larry Summers
May 1, 2021	Archy	$2.0M Seed	—	50 Partners, Air Street Capital, Bessemer Venture Partners, Big Idea Ventures, CRV, Heartcore Capital, Partech Ventures, Point Nine Capital, RTP Global, TCV, Fidji Simo, Alven, Andreessen Horowitz, Anthemis Group, Henry Kravis, Kima Ventures, Raphael Vullierme
Feb 1, 2021	Klarna	$1.0B Venture Round	—	10100, 2048 Ventures, 7percent Ventures, 8-Bit Capital, 8VC, Kevin Hartz, Adit Ventures, American Express Ventures, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Adeyemi Ajao, Base Partners, Better Tomorrow Ventures, Bond, BoxGroup, Bullpen Capital, Canaan Partners, Casa Verde Capital, Catapult Capital, Comal Ventures, Craft Ventures, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, General Atlantic, General Catalyst, Heretic Ventures, IVP, Long Journey Ventures, Norrsken VC, Northzone, Paradigm, Pareto Holdings, Partners Resolute, Primitive Ventures, QED Investors, Quiet Capital, Reimann Investors, Saga, Sequoia Capital, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, SV Angel, TCV, The House Fund, Thrive Capital, Verified Capital, Walerud Ventures, Y Combinator, Aaron Levie, Gianni Martire, Jacob Kerzner, Jared Leto, Joshua Reeves, Michael Abramson, Michael Moritz, Mikhail Seregine, Philip Kaplan, Rashaun Williams, Russell Cook, Sam Altman, Scott Banister, Scott Belsky, Shane Neman, Tim Ringel, Victor Jacobsson, Yishan Wong
Jan 1, 2021	Starburst	$100.0M Series C	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Accel, Alkeon Capital, AME Cloud Ventures, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Benchmark, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Coatue, Comal Ventures, Kevin Ding, Dragoneer Investment Group, DST Global, DVx Ventures, Felicis Ventures, First Round Capital, FJ Labs, Flex Capital, Foundation Capital, Founders Fund, FPV Fund, Geek Ventures, Hanabi Capital, Hardware Club, Long Journey Ventures, Primitive Ventures, Quiet Capital, Saga, Sequoia Capital, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Storm Ventures, Henry Fertik, Susa Ventures, The House Fund, Y Combinator, Anshu Sharma, Charles Zedlewski, Eric Chernoff, Gianni Martire, Joshua Reeves, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman, Shay Banon, Travis May
Aug 1, 2020	See-Mode Technologies	$9.0M Mode Technologies - Series A	—	Amasia, Amity Ventures, Blackbird Ventures Australia, Kevin Ding, Goodwater Capital, Menlo Ventures, Polychain Capital, Tekton Ventures, Dylan Taylor, Matt Mazzeo
Jul 1, 2020	Veho	$4.0M Venture Round	—	10100, 2048 Ventures, 7percent Ventures, 8VC, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Better Tomorrow Ventures, BoxGroup, Bullpen Capital, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, Long Journey Ventures, Primitive Ventures, Quiet Capital, Saga, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, The House Fund, Y Combinator, Gianni Martire, Joshua Reeves, Mikhail Seregine, Rashaun Williams, Russell Cook, Scott Banister, Scott Belsky, Shane Neman

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at NKM Capital.

Nurzhas Makishev

Managing Partner

Leadership Team

Key people at NKM Capital.

Nurzhas Makishev

Managing Partner

Deep Dive

# High-Level Overview

NKM Capital is a thesis-driven early-stage venture capital firm that has established itself as a significant player in technology investing since its founding in 2015.[1][4] The firm operates with a focused investment philosophy centered on decentralization, networks, and infrastructure—sectors that represent fundamental shifts in how technology systems are architected and governed.[1]

The firm's mission centers on backing entrepreneurs building transformative technologies at their earliest stages, when capital and strategic guidance can have the most profound impact on trajectory and outcome. NKM Capital's investment approach reflects a deep conviction that certain technological paradigms—particularly those enabling decentralized systems and new network architectures—will reshape entire industries. This thesis-driven methodology distinguishes the firm from more generalist venture investors, allowing it to develop specialized expertise and conviction in specific technology domains.

Origin Story

NKM Capital was founded in 2015 as a venture capital firm with a clear mandate to identify and support early-stage technology entrepreneurs.[4] While specific details about the founding partners and their backgrounds are limited in available information, the firm's trajectory reveals a deliberate focus on building expertise in emerging technology categories rather than pursuing a broad, opportunistic investment strategy.

The firm's evolution is evident in its portfolio composition. Since inception, NKM Capital has backed a remarkable roster of companies that have achieved significant exits and public market success, including Lyft (IPO), Robinhood (IPO), Cruise (acquired by General Motors), and Truebill (acquired by Rocket Companies).[1] These successes span multiple technology domains—from mobility and fintech to autonomous vehicles and financial infrastructure—suggesting the firm refined its thesis over time while maintaining conviction in transformative technology categories.

Core Differentiators

Thesis-Driven Investment Approach

NKM Capital distinguishes itself through a concentrated investment philosophy rather than a spray-and-pray model. By focusing on decentralization, networks, and infrastructure, the firm develops deep domain expertise and can provide meaningful strategic guidance beyond capital deployment.

Exceptional Exit Track Record

The firm's portfolio includes multiple unicorn exits and public company successes, demonstrating an ability to identify companies at inflection points and support them through scaling phases. The combination of IPOs (Lyft, Robinhood) and strategic acquisitions (Cruise, Truebill) shows the firm's portfolio companies achieve outcomes across multiple exit pathways.

Early-Stage Conviction

NKM Capital's explicit focus on "earliest stages" positions it to capture companies before they become obvious to later-stage investors, potentially securing better entry valuations and deeper influence on company direction during formative periods.

Sector Specialization

Rather than spreading capital across all technology categories, the firm's focus on infrastructure, networks, and decentralization creates natural synergies across portfolio companies and allows for pattern recognition that generalist investors cannot achieve.

Role in the Broader Tech Landscape

NKM Capital's investment thesis reflects a fundamental belief that decentralized systems and new network architectures represent the next major wave of technological disruption. This positioning places the firm at the intersection of several powerful trends: the maturation of blockchain and distributed ledger technology, growing skepticism toward centralized platforms, and the emergence of infrastructure-layer innovations that enable new forms of coordination and value exchange.

The firm's portfolio companies—spanning from Ripple's work on cross-border payments infrastructure to Deepgram's voice AI infrastructure—demonstrate conviction that the most valuable companies of the next decade will be those providing foundational layers upon which entire ecosystems are built. This infrastructure-first approach contrasts with consumer-focused venture investing and reflects a sophisticated understanding that platform shifts typically begin at the infrastructure layer before manifesting in consumer applications.

By backing companies in these domains during their earliest stages, NKM Capital influences the trajectory of technological development itself. Portfolio companies that achieve scale become the de facto standards and platforms upon which subsequent innovation builds, creating network effects that benefit early investors and advisors.

Quick Take & Future Outlook

NKM Capital has positioned itself as a conviction-driven investor in technologies that challenge centralized paradigms. As regulatory frameworks around decentralized systems mature, as enterprise adoption of blockchain and distributed infrastructure accelerates, and as the limitations of centralized platforms become increasingly apparent, the firm's thesis-driven focus should prove prescient.

The firm's future influence will likely depend on its ability to maintain conviction during inevitable cycles of hype and skepticism in decentralized technology, while continuing to identify founders capable of building durable, valuable infrastructure. The next chapter for NKM Capital will be defined by whether its portfolio companies can move beyond early-adopter enthusiasm to achieve mainstream adoption—a transition that separates visionary investors from those who simply rode temporary waves.

NKM Capital

Financial History

Investments Made

Financial History

Leadership Team

Leadership Team

Deep Dive

Origin Story

Core Differentiators

Thesis-Driven Investment Approach

Exceptional Exit Track Record

Early-Stage Conviction

Sector Specialization

Role in the Broader Tech Landscape

Quick Take & Future Outlook

Sources

Leadership Team

Deep Dive

Origin Story

Core Differentiators

Thesis-Driven Investment Approach

Exceptional Exit Track Record

Early-Stage Conviction

Sector Specialization

Role in the Broader Tech Landscape

Quick Take & Future Outlook

Sources

Financial History

Investments Made