# Primal Capital

> Primal Capital is a VC fund in London backing Blockchain and Cryptocurrency. See 39 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: London, United Kingdom
- Total investments: 39
- Last investment: Mar 2026
- Lead investor: 8%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/primal-capital-management/
- X (Twitter): https://twitter.com/primalcm
- Website: https://www.primalcapital.io

Primal Capital is an early stage and growth investor in Web3 and emerging technology companies. Our current portfolio consists of 50+ investments in Web3 & blockchain applications focused on consumer and enterprise adoption.

## Contacts

5 contacts available for Primal Capital. Shizune tracks 1 team members at Primal Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/primal-capital-48b8?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.1M–$13M |
| Pre-Seed | $100k–$3.7M |
| Series A | $22M–$25M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Blockchain | 11 | 28% |
| Cryptocurrency | 8 | 21% |
| Artificial Intelligence | 8 | 21% |
| Web3 | 6 | 15% |
| FinTech | 4 | 10% |

45 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 25 | 64% |
| Pre-Seed | 7 | 18% |
| Series A | 3 | 8% |
| Venture - Series Unknown | 3 | 8% |
| Initial Coin Offering | 1 | 3% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 7 | 18% |
| United Kingdom | 4 | 10% |
| Israel | 2 | 5% |
| Switzerland | 2 | 5% |
| Japan | 1 | 3% |

11 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Trent Barnes | General Partner | 0 | https://shizune.co/investors/profile/trent-barnes |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Macropod |  |  | Seed | Mar 08, 2026 |  |
| Asgard Finance | Asgard helps fearless investors take confident, strategic positions in the evolving Internet Capital Markets, providing the tools, insights, and support they need to act boldly and capitalize on emerging digital opportunities. | $2.2M | Seed | Dec 08, 2025 |  |
| Curvance | Curvance is a crosschain lending market for yield-bearing assets and any other ERC-20 tokens on Ethereum, Polygon zkEVM, Base, Arbitrum, and Optimism and aspires to establish itself as the de-facto money market for any ERC-20 token. | $4M | Seed | Nov 11, 2025 |  |
| Senpi | Senpi is an on-chain AI assistant that acts as a mentor, advisor, and companion for crypto users exploring on-chain markets. | $4M | Seed | Sep 16, 2025 |  |
| Transak | Transak is a global web3 payment and onboarding infrastructure provider, facilitating seamless transitions between traditional finance and crypto assets. Its product suite includes robust fiat-to-crypto services (On/Off-Ramps), a fiat-to-smart-contract solution (Transak One), and a fiat-to-NFT checkout solution. As a regulated, non-custodialpayments layer, Transak supports onboarding to 160+ crypto assets across 75+ blockchains. Trusted by over 350+ applications, including MetaMask and Coinbase Wallet, Transak is making web3 applications more accessible. | $16M | Venture - Series Unknown | Aug 12, 2025 |  |
| Ooga Booga | Ooga Booga is a liquidity aggregator designed to support the goal of becoming the most capital efficient blockchain. | $1.5M | Seed | Jan 10, 2025 |  |
| Agents World | Agents World operates as an web3 AI firm. |  | Seed | Sep 20, 2024 |  |
| Fountain | Fountain operates in the finance industry, providing a wallet platform specifically designed for teams. The platform allows users to create permission-controlled wallets in a matter of seconds, offering a centralized location for managing all transactions and treasury. In addition to its wallet services, Fountain also offers a unique way to enjoypodcasts, further diversifying its product offerings. With a team of six, Fountain continues to innovate in the realm of finance and entertainment. | $3.5M | Seed | Sep 10, 2024 |  |
| 375ai | 375ai operates as a decentralized edge data intelligence network. | $5M | Seed | Aug 08, 2024 |  |
| Zest Protocol | Zest Protocol is a pioneering financial service platform focused on enhancing the utility of Bitcoin. It offers a unique borrowing and lending ecosystem that allows Bitcoin holders to earn more BTC or borrow against their holdings. Zest Protocol is recognized as the first on-chain Bitcoin lending protocol, aiming to make Bitcoin productive bycreating opportunities for its holders to engage in a vibrant borrowing and lending market. The platform emphasizes security and innovation, leveraging Bitcoin and Layer 2 solutions to minimize risks, such as counterparty risk, associated with traditional Bitcoin lending solutions. Users can participate in yield pools using Stacks and Bitcoin addresses, with rewards provided in USDC/T on Ethereum, denominated in USD. | $3.5M | Seed | May 13, 2024 |  |

10 of 39 investments shown.

## Co-investors
- [Outlier Ventures](https://shizune.co/investors/profile/outlier-ventures-ltd-llp) — VC Fund, 12 deals together
- [Primal Capital](https://shizune.co/investors/profile/primal-capital-2) — VC Fund, 4 deals together
- [Shima Capital](https://shizune.co/investors/profile/shima-capital) — VC Fund, 4 deals together
- [Animoca Brands](https://shizune.co/investors/profile/animoca-brands-corporation) — VC Fund, 3 deals together
- [Auros](https://shizune.co/investors/profile/auros-54be) — VC Fund, 3 deals together
- [Cypher Capital](https://shizune.co/investors/profile/cypher-capital-e62f) — VC Fund, 3 deals together

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## FAQ

### What does Primal Capital invest in?

Primal Capital invests primarily in Blockchain, Cryptocurrency and Artificial Intelligence startups, most often at Seed and Pre-Seed stage. Most of the 39 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Primal Capital's check size?

Primal Capital typically joins rounds of $1.1M–$13M at Seed, $100k–$3.7M at Pre-Seed and $22M–$25M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Primal Capital participates in.

### How do I contact Primal Capital?

Public channels for Primal Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Primal Capital?

The team at Primal Capital includes Trent Barnes (General Partner). The Team section lists each member with their title, investment count and links.

### 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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