gumi Cryptos Capital Research
Investment Thesis
gumi Cryptos Capital (gCC) is a boutique, crypto-native early-stage venture firm based in Silicon Valley, founded in 2018. Its stated view is that the Internet will become the single largest market in human history and will be rebuilt on new protocols that protect and coordinate the transfer of digital assets, resources and intellectual property, generate consensus, incentivize network participants and decentralize ownership. The firm invests across the crypto-native stack, from layer 1 protocols to the application layer. Its tagline is "Your Passion, Our Conviction."
Stage Focus
gCC backs founders from pre-seed through seed, with occasional Series A leads. Press coverage of its second fund described a plan to back roughly 50 blockchain companies from pre-seed to seed. Recent leads include the $2.25M Arkis pre-seed (Feb 2024), the $6M Keyring seed (Mar 2024), the $7M Nucleus seed (Aug 2024) and the $12M Union Series A (Dec 2024).
Check Size
The firm does not publish a check size range. Round sizes it has led or co-led run from about $2.2M (Singularity) to $12M (Union). It also participates in larger rounds, such as the $35M seed round for 0G alongside Hack VC, Bankless and Delphi. No check range is set in the structured fields because the firm has not disclosed one.
Lead Tendency
gCC both leads and follows. The firm's own posts say it led Arkis, Singularity, Keyring, Nucleus and Union, co-led Web3 Firewall, and invested alongside others in Intract and 0G.
Recent Activity
Fund II closed at $110M in March 2022. The firm's announcement said Fund I grew from $21M to $516M in asset value. Its blog shows steady deployment through 2024, and PitchBook lists a most recent investment in Fission dated 15 Oct 2026. That item is not confirmed on the firm's own site. The firm appointed a new partner for Asia expansion in April 2024.
Portfolio Highlights
The portfolio page lists 71 companies. Early bets include OpenSea (seed, 2019), Yield Guild Games (seed, 2020), 1inch (Series A, 2020), Lit Protocol (seed, 2021) and etherfi (Series A, 2024). Other names include Theta, Astar Network, Agoric, Hashflow, IntoTheBlock, Qredo, RedStone, Particle Network, Union, Nucleus, Arkis and Zero Gravity (0G). The categories span DeFi, infrastructure, gaming, NFT, payments, wallets, compliance and stablecoins.
Team
- Rui Zhang, Managing Partner: co-founded gCC in 2018. Former VP at gumi Inc. leading global investment in gaming, VR/AR and social. Co-founded a Shanghai startup that exited to a public company. Seven-plus years in banking and consulting.
- Hironao Kunimitsu, Managing Partner: co-founded gCC. Founded gumi Inc. in 2007 and took it public on the Tokyo Stock Exchange in 2014. Also founded Thirdverse and Financie.
- Miko Matsumura, Managing Partner: joined in 2018. Serial open source software entrepreneur with a focus on go-to-market and fundraising.
- Evans Huangfu, Partner: joined in 2024 and covers Asia and portfolio strategy. Former Head of Investment at Huobi Ventures and GP and CIO at Arcane Group.
Decision Process
The firm is a partnership with three managing partners and one partner. The site does not describe a formal committee or timeline.
Founder Preferences
The firm says it supports "some of the best builders in the industry" and adds value through entrepreneurial experience and global networks. The partners' backgrounds in gaming, open source and Asian markets show up in the portfolio, which has many gaming, infrastructure and Asia-linked teams.
Geographic Focus
The firm is headquartered in Silicon Valley with strong ties to Japan, through gumi Inc., and to Asia more broadly, through the Singapore-based partner hire. The portfolio is global and includes teams in Africa (Nestcoin, Metaverse Magna), Europe and Asia.
Gaps
The firm has not published check size, total AUM or decision timeline. The Fission investment and the Fund II details come from third-party sources and are not on the firm's own site.