Ten31
Fund Size
~$200M deployed across two funds. 35+ portfolio companies.
Thesis
The world's largest platform focused exclusively on Bitcoin. Ten31 invests across all verticals of the Bitcoin ecosystem: financial services, Lightning Network, consumer applications, mining infrastructure, security hardware and software, and emerging markets. Their thesis is that Bitcoin is the foundation and every layer on top of it needs dedicated capital.
Portfolio
Strike, Swan Bitcoin, Unchained, Fold, Zaprite, Start9, Primal, AnchorWatch, Satoshi Energy, and GRIID, with investments spanning mining, Lightning, financial services, security, and consumer applications across the Bitcoin ecosystem.
Why It Matters
Ten31 is the largest Bitcoin-only investment platform in the world by deployed capital. Their breadth across the entire Bitcoin stack, from mining hardware to Lightning apps to security, gives them a unique view of the ecosystem that more narrowly focused funds lack.