Excited to announce we have closed $20m for @frachtisvc Fund I, a crypto-native pre-seed fund supporting builders across decentralised infrastructure, AI, middleware, and consumer apps.

Read more about the coverage of @frachtisvc fundraise via @Blockworks_

Crypto is entering a new era: infrastructure is ready, AI is accelerating, regulation is on the horizon, M&A is heating up, Gen Z is experimenting, and Apple just opened the door for mobile apps. The next wave of crypto adoption is here. The asset class has never been more credible and exciting.

As blockchain technology evolves and crypto goes mainstream, both infra and apps are commoditising. We believe the next frontier is to move away from generic blockchains and/or copied applications, towards solving new problems with differentiated technology.

We aim to invest in dynamic, impactful and useful decentralised technology that separates itself from undifferentiated solutions. Our thesis is that the best teams will be the ones that create unique defensible businesses, especially when it comes to owning the end-user relationship, liquidity and AI model feedback loops (derived from user data).

In this new era for crypto, we are particularly interested in backing: - decentralised infra for AI agents - crypto x AI apps with personalised UX - consumer apps that make crypto fun, social, or invisible & - middleware that fixes core dev pain points across chains

Frachtis is an operator-led fund. Our team includes top-tier, crypto-native veterans. I serve as the Founding GP, with @crainbf (CEO of @ChorusOne) on the IC. We also have @FelixLts (Head of Ecosystem at @symbioticfi) and Erwin Dassen (Head of AI at Chorus One) as venture partners. Mel Tsiaprazis serves as our CCO.

Our experience in operating infrastructure and growing a crypto-native business gives us an edge in sourcing, analysing, selecting, and servicing early-stage investments. We blend in-depth protocol-level technical reviews with execution risk assessments to support our underwriting process.

We’re grateful for the support of our amazing LPs. Our backers include leading institutional and crypto-native investors such as @ThetaInvest, @ChorusOne, @Rockaway_X, and @cyberFund_ We also have the backing of several prominent GPs and founders in the space.

A huge thank you in particular to @crainbf and the late @MeherRoy, who have supported my career from the beginning. I spent 3.5 amazing years working with Brian and Meher at Chorus One. The recent news of Meher deeply saddens me as one of my biggest inspirations in the space. I'm motivated to spread Meher's kindness, intelligence and curiosity at Frachtis for years to come with Brian.

We have made 8 investments so far, including investments in: - @theblessnetwork - @Hyve_DA - @turtleclubhouse - @OyaChatApp - @LYS_Labs - @infinityg_ai - @aizel_network - @useenclave

We are actively looking to invest in the next wave of ambitious crypto founders. If you are a technical builder with crypto-native experience, please reach out to us via - we check submissions regularly!

To learn more about Frachtis, read our blog post introducing the fund here: