# Ledger Cathay Capital

> Ledger Cathay Capital is a VC fund in Paris backing Web3, Cryptocurrency and FinTech. See 9 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Paris, France
- Total investments: 9
- Last investment: Jun 2026
- Lead investor: 22%
- Last updated: Aug 2026
- Website: https://www.ledger.com/cathay-ledger-fund

Ledger Cathay Capital is a VC fund in Paris focused on Web3 and Cryptocurrency. Ledger Cathay Capital operates as a corporate venture firm operated by Ledger.

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $7.5M–$50M |
| Series B | $45M–$50M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Web3 | 3 | 33% |
| Cryptocurrency | 3 | 33% |
| FinTech | 2 | 22% |
| Blockchain | 2 | 22% |
| Bitcoin | 1 | 11% |

10 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 3 | 33% |
| Series B | 2 | 22% |
| Seed | 1 | 11% |
| Funding Round | 1 | 11% |
| Venture - Series Unknown | 1 | 11% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| France | 3 | 33% |
| Germany | 1 | 11% |
| United States | 1 | 11% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Morpho Labs | Morpho is an on-chain peer-to-peer layer on top of lending pools. Rates are seamlessly improved for borrowers and lenders while preserving the same guarantees. Morpho combines the efficiency of P2P with the liquidity of lending pools. Users enjoy an improved APY while maintaining the pool’s flexibility | $175M | Venture - Series Unknown | Jun 09, 2026 |  |
| Morpho Labs | Morpho is an on-chain peer-to-peer layer on top of lending pools. Rates are seamlessly improved for borrowers and lenders while preserving the same guarantees. Morpho combines the efficiency of P2P with the liquidity of lending pools. Users enjoy an improved APY while maintaining the pool’s flexibility | $175M |  | Jun 09, 2026 |  |
| Midas | Midas is a cryptocurrency application that allows users to sell and invest in cryptocurrency and tokens. | $50M | Series A | Mar 30, 2026 |  |
| Cryptio | Cryptio is a financial data analysis tool for cryptocurrencies. It helps crypto CFOs & CPAs easily automate accounting, bookkeeping and tax reporting for their digital assets. The tool consolidates all cryptocurrency transaction data from multiple wallet & exchange sources, and translates it into data usable for accounting and financialanalysis. We take away the headache of regulations, audits, taxes and accounting for crypto firms so that they can focus on what they do best. | $45M | Series B | Mar 04, 2026 |  |
| Cryptio | Cryptio is a financial data analysis tool for cryptocurrencies. It helps crypto CFOs & CPAs easily automate accounting, bookkeeping and tax reporting for their digital assets. The tool consolidates all cryptocurrency transaction data from multiple wallet & exchange sources, and translates it into data usable for accounting and financialanalysis. We take away the headache of regulations, audits, taxes and accounting for crypto firms so that they can focus on what they do best. | $15M | Series A | Jan 29, 2025 |  |
| Mezo | Mezo is a bitcoin economic layer network that provides fast and cheap bitcoin transactions to hold tokens while earning yield. | $7.5M | Series A | Jul 26, 2024 |  |
| Mezo | Mezo is a bitcoin economic layer network that provides fast and cheap bitcoin transactions to hold tokens while earning yield. | $7.5M | Series A | Jul 26, 2024 |  |
| Midas | Midas is a cryptocurrency application that allows users to sell and invest in cryptocurrency and tokens. | $8.8M | Seed | Mar 26, 2024 |  |
| Flowdesk | Flowdesk is a regulated, full-service digital asset trading and technology firm that specializes in market making, OTC, and treasury management services. Company registered in France - no. 883604647Registered Digital Asset Service Provider with the AMF for digital assets custody, purchase/sale of digital assets for legal tender and tradingof digital assets for other digital assets number: E2021-019 | $50M | Series B | Jan 18, 2024 |  |

9 of 9 investments shown.

## Co-investors
- [Mirana](https://shizune.co/investors/profile/mirana) — VC Fund, 6 deals together
- [GSR](https://shizune.co/investors/profile/gsr) — VC Fund, 4 deals together
- [WAGMI Ventures](https://shizune.co/investors/profile/wagmi-ventures-3757) — VC Fund, 3 deals together
- [1kx](https://shizune.co/investors/profile/1kx) — VC Fund, 2 deals together
- [Alven](https://shizune.co/investors/profile/alven-capital) — VC Fund, 2 deals together
- [BlueYard Capital](https://shizune.co/investors/profile/blueyard-capital) — VC Fund, 2 deals together

## Similar investors

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### Similar stage
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### Similar country
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## Featured in investor lists
- [Cryptocurrency Investors in Germany](https://shizune.co/investors/cryptocurrency-investors-germany)
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## FAQ

### What does Ledger Cathay Capital invest in?

Ledger Cathay Capital invests primarily in Web3, Cryptocurrency and FinTech startups, most often at Series A and Series B stage. Most of the 9 investments tracked by Shizune back companies in France. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Ledger Cathay Capital's check size?

Ledger Cathay Capital typically joins rounds of $7.5M–$50M at Series A and $45M–$50M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Ledger Cathay Capital participates in.

### When did Ledger Cathay Capital last invest?

The most recent investment recorded for Ledger Cathay Capital closed in Jun 2026. Shizune tracks 9 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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