Token Bay Capital
VC Fund
Token Bay Capital is an early-stage venture fund that invests in digital assets and blockchain-related companies with a focus on Asia.
- Total investments:
- 26
- Last investment:
- Lead investor:
- 12%
Last updated:
For AI agents: llms.txt
Industries Token Bay Capital invests in
Stages Token Bay Capital invests in
Countries Token Bay Capital invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Seed
- $2.7M–$12M
- Pre-Seed
- $2M–$5M
- Series A
- $5M–$18M
Investment Focus
Industry
- Blockchain 14 (54%)
- Cryptocurrency 9 (35%)
- Financial Services 7 (27%)
- Trading Platform 4 (15%)
- FinTech 3 (12%)
Stage
- Series A 10 (38%)
- Seed 8 (31%)
- Pre-Seed 2 (8%)
- Venture - Series Unknown 2 (8%)
Country
- Hong Kong 6 (23%)
- Singapore 6 (23%)
- United States 3 (12%)
- United Kingdom 2 (8%)
- Israel 1 (4%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Lucy Gazmararian
Founder & Managing Partner
|
Founder & Managing Partner | Total investments: 4 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Zodia Markets is a digital asset trading platform that provides custody of digital assets, brokerage, trade, investments, and exchange. | $18.3M / Series A / Jul 28, 2025 | ||
| Soter Insure is a provider of insurance products tailored to the digital asset economy. It provides the Web3 ecosystem with institutional-grade insurance for broader adoption against a lack of appropriate products and scarce capacity. | Series A / Feb 13, 2025 | ||
| Nodepay is a network infrastructure that offers decentralized bandwidth for AI training. | Seed / Oct 02, 2024 | ||
| MANTRA develops a vertically-integrated and regulatory-compliant blockchain ecosystem. It allows users around the world to trade, issue, and earn from both digital assets and tokenized securities alike. | $11M / Series A / Mar 19, 2024 | ||
| MANTRA develops a vertically-integrated and regulatory-compliant blockchain ecosystem. It allows users around the world to trade, issue, and earn from both digital assets and tokenized securities alike. | $11M / Seed / Mar 19, 2024 | ||
| Taiko Labs is a cryptocurrency firm that develops an Ethereum Virtual Machine (zkEVM) scaling solutions platform for Ethereum Blockchain. The platform supports all EVM opcodes in a decentralized, permissionless, and secure layer-2 architecture to allow Ethereum developers to run blockchain projects. | $15M / Series A / Mar 02, 2024 | ||
| We provide an end-to-end solution for brands and businesses to easily create dynamic, NFT-based exclusive rewards and access that seamlessly integrate with O2O operation. Create a reward campaign today in as short as 5 minutes! | $2.7M / Seed / Feb 12, 2024 | ||
| beoble is a social module with API and SDK for Web 3.0. It is an on-chain communication window and a user-owned Web 3.0 product. With beoble, Web 3.0 services can easily integrate social functionalities of social profile, messaging, and posting & feeds into their services in 5 minutes. beoble’s core features include 1) modularized socialprofile, 2) modularized wallet-to-wallet messaging, and 3) modularized posting & feeds. Users to connect their wallets to create their Web 3.0 social profile and customize it with NFT’s or ENS. Users can also send messages to other users using either the social profile or wallet address. The messaging module supports group chats such as NFT collection holders’ private group or public chat group for a Web 3.0 service. Messaging is not the only channel to communicate, as users can post articles and write comments which is visible from modularized feeds. | $2M / Pre-Seed / Nov 14, 2023 | ||
| Taiko Labs is a cryptocurrency firm that develops an Ethereum Virtual Machine (zkEVM) scaling solutions platform for Ethereum Blockchain. The platform supports all EVM opcodes in a decentralized, permissionless, and secure layer-2 architecture to allow Ethereum developers to run blockchain projects. | $12M / Seed / Jun 08, 2023 | ||
| Rainmaker Games is a play-to-earn gaming company that gives players free access to play hundreds of P2E games, explore in-game content, receive coaching from top international players, connect with other players globally, and gain access to a cutting-edge NFT lending and borrowing marketplace. Gamers of all skill levels can benefit from RainmakerGames' ability to switch between games, learn the rules of each one, manage their money, and gain exclusive access to the NFT vault. | $4.7M / Seed / Dec 23, 2022 | ||
| See all 26 investments → | |||
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FAQ
What does Token Bay Capital invest in?
Token Bay Capital invests primarily in Blockchain, Cryptocurrency and Financial Services startups, most often at Series A and Seed stage. Most of the 26 investments tracked by Shizune back companies in Hong Kong. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What is Token Bay Capital's check size?
Token Bay Capital typically joins rounds of $2.7M–$12M at Seed, $2M–$5M at Pre-Seed and $5M–$18M 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 Token Bay Capital participates in.
How do I contact Token Bay Capital?
Public channels for Token Bay 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 Token Bay Capital?
The team at Token Bay Capital includes Lucy Gazmararian (Founder & Managing 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 Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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