1KX MANAGEMENT LTD.

Thesis

1KX MANAGEMENT LTD. is a global investment firm founded in 2018, specializing in blockchain technologies and Web3 startups. Operating with a research-driven approach, their core thesis, 'Cost of Trust,' focuses on backing networks and companies that enhance trust's accessibility and reduce its cost. They invest across all stages, with a primary focus on seed-stage projects, but also support Series A and beyond, along with strategic positions in major blockchain networks and select fund-of-funds. Their strategy involves both leading and following in investment rounds. Key investment areas include Infrastructure & Layer 1/2 Networks, Middleware & Developer Tools, Decentralized Finance (DeFi), Consumer Applications & Crypto Gaming, and Real-World Assets (RWAs). They explicitly avoid purely marketing-driven projects, centralized platforms disguised as decentralized, projects with poor tokenomics, late-stage cryptocurrency projects outside of follow-ons, and non-blockchain projects where blockchain is not essential. As of March 2024, the firm has over $75 million in AUM, with typical check sizes ranging from $1 million to $15 million, and a broader range from $500,000 for early pre-seed to over $25 million for major follow-ons. The average deal size is between $3 million and $8 million.

Related lists

• Pre-seed Developer Tools investors
• Seed-stage Developer Tools investors
• Series A Developer Tools investors