P2 Ventures Research
Investment Thesis
P2 Ventures (formerly Polygon Ventures, the venture arm spun out of Polygon Labs) backs trailblazing teams on a mission of "bringing the open internet to the masses." Its site says it supports visionary teams across the multichain ecosystem and invests at the earliest stages across all categories in web3. The firm frames web3 as a financial layer for the internet, a technology shift toward more open and transparent systems, and a base for new forms of decentralized organization. It says it invests in startups and protocols that will lead these emerging categories.
Stage Focus
Earliest stages. The site states it invests "at the earliest stages," so pre-seed and seed. A founder testimonial (Laguna Games) says P2 was the first to commit to their seed round and made introductions to other funds.
Check Size
Not stated on the firm's site. A third-party directory lists $1.5M to $3M, which is not verified, so check size is left unset in the structured fields.
Lead Tendency
Unknown. Founder testimonials describe P2 committing early to a seed round, but no source here says whether it leads.
Recent Activity
Third-party search snippets mention recent deals (for example Beamable, Moonray, Holyheld and KGeN in late 2024 and early 2025, and a recent listing for Bullshot), but none were confirmed against a primary source, so no dated investments are recorded. Third-party sources describe a fund of $50M to $100M; the figures conflict and AUM is left unset.
Portfolio Highlights
The site's "glimpse of our portfolio" logo wall names LayerZero, Metalcore, The Sandbox, Safe (Gnosis Safe), Magic Eden, EigenLayer, Memeland, Midnight Society, Eclipse and Polymarket. One further logo was not legible from its caption and is not included. Griffin Gaming Partners appears in the wall and is a VC firm, so it is treated as a partner rather than a portfolio company. Testimonials also name Spindl and Laguna Games as portfolio companies.
Team
- Shreyansh Singh: Head of Investments
- Yvette Tao: Head of Finance
- Snigdha Thalapally: Chief of Staff
- Nathan Gurr: Investment Lead
- Michael Cieri: Advisor
Decision Process
Not disclosed. The firm takes applications through a Typeform on its site. Introductions run through the Polygon ecosystem and the firm's own network.
Founder Preferences
Visionary web3 founders building across chains. The firm offers what it calls 360 support: operations, technology, distribution, strategic partnerships, advisory, marketing, technical support and community building. Founders cite introductions to other funds and to projects building on Polygon.
Geographic Focus
Global and chain-agnostic in framing ("multichain ecosystem"), with a strong Polygon tie. Directories disagree on location (Menlo Park, Singapore, Spain), so location is left unset.
Writing and Content
The blog (2023) includes essays on aggregating open markets and NFT marketplaces, designing on-chain options, gaming infrastructure for on-chain games, wallets becoming platforms, the zero-knowledge landscape, and preparing for the bull run. Activity on the site appears to have slowed after 2023, so current deployment pace is uncertain.