1confirmation is an early-stage venture fund established in 2017 by Nick Tomaino that backs outstanding founders driving the decentralization of the web and society. ^[1]

Overview

1confirmation specializes in the cryptocurrency sector, managing over $1 billion in assets. The firm has made investments in various projects, including OpenSea, Coinbase, dYdX, Ethereum, and Nexus Mutual, focusing on cutting-edge opportunities in the industry. 1confirmation emphasizes building strong partnerships with founders to support their ventures effectively. ^[2]

1confirmation raised $125 million for its third fund in 2021, aiming to continue investing in early-stage crypto and digital asset projects with long-term, transformative potential. This fund, significantly larger than its prior rounds, the first in 2017 at $26 million and 2019 at $45 million, aligns with 1confirmation’s commitment to projects that advance decentralized technology and empower individuals. Notable early backers include Mark Cuban, Marc Andreessen, Balaji Srinivasan, and Brendan Eich. ^[4]

Funds

Fund I

Fund I, a $20 million initiative led by Nick Tomaino in 2017, focused on early-stage investments in decentralized blockchain projects. Backed by investors like Mark Cuban, the fund supported projects using tokens to decentralize control and explore new organizational models, including governance and prediction markets. ^[5]

Fund II

Fund II, in 2019, was a $45 million venture fund and was dedicated to early-stage cryptocurrency projects, expanding the firm's managed assets to over $75 million. The fund prioritized projects with strong founding teams and community support, aiming to foster growth across both traditional companies and decentralized blockchain organizations. ^[6]

Fund III

1confirmation’s Fund III, a $125 million venture fund, was launched to invest in cryptocurrency companies, digital assets, and NFTs, aiming to enhance individual empowerment in digital ecosystems. Since the launch of Fund I in 2017, 1confirmation’s assets under management have grown to over $800 million. The fund focused on supporting decentralized solutions and grassroots communities, reflecting a belief that blockchain technology enables users to control money, data, and identity. ^[7]

Portfolio Companies

• Ethereum
• Opensea
• Bitcoin
• Worldcoin
• Degen
• Nexus Mutual
• Coinbase
• Polymarket
• DyDx
• Osmosis
• Stride
• Cosmos
• Bloxroute
• MakerDAO
• Superrare
• Rated
• Gno.land
• Archway
• Primitive
• Polkadot
• Mami
• Arpeggi
• Hop
• Forte
• Starkscan
• Farcaster
• Vision
• Keplr
• Bridge
• Gamma
• Catalog
• Metahood
• Frens
• Titles
• Receipts
• Limitless
• Filecoin
• Sloika
• Wildcard
• Deepnftvalue
• Pimlico
• Opus
• Moemate
• Notional
• End Game
• Index Coop ^[3]

Team

1confirmation's team comprises experienced professionals dedicated to supporting the firm's mission: ^[2]

• Nick Tomaino - General Partner
• Frank Hourigan - Partner, Head of Operations
• Mike Tomaino - Partner