Ethereal Ventures

Ethereal Ventures is an investment firm focused on companies building on permissionless networks and digital assets, investing globally from early stages through to later growth. Its portfolio includes EigenCloud, Aztec, Drift, SpruceID, Alluvial, Flashbots, 1Money and Utexo. The firm describes its role as incubating, accelerating and working alongside founders, with a team it says includes former operators, founders, and technical and security specialists. Ethereal Ventures provided the first term sheet for Eigen Labs' seed round and has been an investor in Aztec since its early stages, with founders quoted describing the firm's involvement as including board participation and hands-on support. The firm positions its investment thesis around open and composable systems as an alternative to more closed, established technology providers.