Anagram Research
Investment Thesis
Anagram describes itself as "a modern institution for a novel technology" that uses human and financial capital to bring the ownership economy to the masses. Founded in 2022, it is a crypto-native firm that both invests in and builds early-stage blockchain and digital-asset companies. It is more than a classic venture fund: it runs in-house research and engineering, operates a Solana validator and staking product (stake.anagram.xyz), and has incubated products such as Swig (a Solana smart wallet), Glider, Breeze and Acre (a live market for real estate, in beta since July 2026). Co-founder Joe Eagan has publicly argued for permanent capital vehicles as the right structure for this kind of hybrid builder-investor.
Current Focus Areas
Its 2026 writing and deals point to several themes:
- Prediction markets and new continuously priced markets (a June 2026 post on parametric insurance as a distribution market; Noise, a prediction-market social network, seeded in January 2026).
- AI agents with identity and trust infrastructure (t54 Labs, a trust layer for the agentic economy; VeryAI).
- Solana protocol research (posts on taking Solana post-quantum and on the Constellation SIMD proposal).
- Bitcoin infrastructure (OP_NET) and data/AI infrastructure (Dataline).
- Real-world assets, with the Acre real estate market.
- A April 2026 essay titled The Future of Venture Capital argues that AI compresses the gap between idea and company.
Stage Focus
Mostly pre-seed and seed in crypto and crypto-AI companies. Third-party trackers list about 58 investments, with disclosed round sizes mostly between $3M and $28M and occasional participation in larger rounds. It co-invests heavily and also leads or co-leads: it co-led t54 Labs' $5M seed in February 2026.
Check Size
Not published. Round sizes it participates in run roughly $3M to $30M; its own check size is not disclosed. The stored check size fields are left empty for that reason.
Lead Tendency
Both. It is named as a co-lead on t54 Labs and appears as a participant in most other tracked rounds alongside funds such as Paradigm, Polychain, Pantera, Coinbase Ventures, Multicoin and Dragonfly.
Recent Activity
- October 2026: Dataline, $10.6M seed (with Symbolic Capital, Coinbase Ventures and others).
- March 2026: VeryAI, $10M seed (with Polychain Capital).
- March 2026: OP_NET, $5M round (with Further Ventures and others).
- February 2026: t54 Labs, $5M seed co-led with PL Capital and Franklin Templeton.
- January 2026: Noise, $7.1M seed (with Paradigm).
- February 2026: launched Acre, a real estate trading product; beta announced July 2026.
Portfolio Highlights
Third-party trackers list names including Upexi, Huma Finance, DoubleZero, Ritual and Anoma, plus the 2026 deals above. The firm's own site has no portfolio page (it returns 404), so every portfolio name here comes from third-party trackers and press, not from Anagram.
Team
- Caroline Jaquiss, CEO
- Joseph Eagan, Co-Founder
- Lily Liu, Co-Founder
- Joel John, Venture Partner
- storm, President and GP
- Christina Kallitsantsi, Head of Operations
Team titles come from CryptoRank and RootData listings; the firm's website has no team page.
Decision Process
Not disclosed. The firm presents as an institution with a research team, so decisions are likely partnership-based, but this is unconfirmed.
Founder Preferences
Technical founders building crypto-native infrastructure, markets and AI-agent tooling, especially on Solana and Base, who can use Anagram's research and engineering help.
Geographic Focus
Global and crypto-native. No headquarters is published on the site, so location is left empty.
Gaps
No fund size or AUM is published, no check size is published, and the website carries only a one-paragraph homepage, a blog and a staking link.