“Invests in builders of frontier technologies, including AI, cryptography and distributed systems, that reduce reliance on intermediaries. Every investor on the team is an engineer who codes, and the firm publishes the industry-standard annual Developer Report.”
Splits below are computed from the 12 companies named on Electric Capital's own site that we could classify with confidence (7 of 12); 5 (Boom, HealthEx, Bluenote, Re, Aven) are left unclassified, Aven because it is a consumer fintech company (a home-equity-backed credit card) rather than a crypto-native position, so it does not map to the web3 sector vocabulary.
Electric Capital is a Palo Alto-based crypto and frontier-technology fund co-founded by Avichal Garg and Curtis Spencer, distinguished in this directory by a simple structural fact: every investor on the team is an engineer who writes code. That shapes both what the firm invests in (builders of AI, cryptography and distributed systems that reduce reliance on intermediaries) and how it evaluates deals, since the team can and does read a portfolio candidate's repository directly rather than relying only on a deck.
The firm's best-known public artifact is the annual Electric Capital Developer Report, a widely cited dataset tracking active developer counts across every major blockchain ecosystem, used industry-wide (including by other funds and foundations in this directory) as a proxy for ecosystem health. That same instinct, measuring real developer adoption rather than narrative, is what the firm says it looks for in portfolio companies: GitHub contributor growth and time-to-first-integration are metrics the team explicitly trusts.
Electric Capital invests from pre-seed through Series A with checks from $1 million to $15 million or more, and states plainly that it takes cold inbound seriously precisely because its own technical bar lets it evaluate code-first pitches efficiently. Confirmed crypto-native portfolio positions span Solana infrastructure (Squads), NEAR itself, and companies spanning security tooling, institutional crypto and AI compute. The portfolio page also names Aven, a consumer fintech company issuing a home-equity-backed credit card; it is not a crypto-native position and is excluded from the sector and chain splits below.
Key stats:
| Partner | Role | Where to find them |
|---|---|---|
| Avichal Garg | Co-founder, General Partner | electriccapital.com/team |
| Curtis Spencer | Co-founder, General Partner | electriccapital.com/team |
| Ken Deeter | General Partner | electriccapital.com/team |
| Maria Shen | General Partner | electriccapital.com/team |
| Thuan Le | Partner | electriccapital.com/team |
| Emily Meyers | General Counsel, Chief Compliance Officer | electriccapital.com/team |
Individual X and LinkedIn handles were not independently confirmed on the pages fetched, so we link the team page rather than guess.