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BR CAPITAL

74% annualized trading returns
and 9x VC returns since 2020

We’re long-term investor-builders supporting crypto
and web3 businesses.

Decor
BR21 SPC Ltd
BR Capital is welcoming investment into its newest Caymans-regulated mutual fund, BR21 SPC Ltd. This fund consists of three sub-portfolios (SPs) with different strategies:
  • SP1: Liquid trading portfolio with monthly redemptions
  • SP2: Digital assets hedge fund, with bi-annual redemptions
  • SP3: Web3 VC portfolio
  • Event news: BR Capital Managing Partner Kevin Dougherty presented a recent Opalesque webinar looking at web3 and crypto as a new asset class for investors. Watch the replay here.
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Latest investments
Latest investments
Pave Bank
Seed investment: Pave Bank

Empowering businesses with 24/7 global, secure, multi-asset banking. ecosystem.

Georgian Innovation Centre
Seed investment: Georgian Innovation Centre

Seamless company and bank setup for technology companies globally, including Web3.

Decor
BR Portfolio: DeFi
Financial products and services should be available to all, without borders, barriers or bureaucracy.
1inch Network
1inch Network

The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space. 1inch is also well known as a most popular DEX aggregator.

Azuro
Azuro

Azuro is a decentralized autonomous organization focused on the democratization and innovation in betting.

ConsenSys
ConsenSys

ConsenSys is the software engineering leader of the blockchain space focused on Ethereum ecosystem and institutional services..

LIDO
LIDO

Lido is a liquid staking solution for ETH 2.0 and Terra backed by a number of the industry's leading blockchain staking providers.

dYdX
dYdX

dYdX is the most powerful open trading platform that combines non-custodial, on-chain settlement with an off-chain low-latency matching engine using order books for crypto assets. dYdX offers decentralized derivatives, margin, and spot trading.

Project Serum
Project Serum

Serum brings the speed and convenience of centralized exchanges to DeFi while remaining fully trustless and transparent. On top of Solana Blockchain.

CowSwap
CowSwap

Ethereum's MetaDEX Aggregator that allows to trade with MEV protection while using ETH-less orders that are settled p2p among users or the best AMM.

Badger
Badger

Badger is a decentralized autonomous organization (DAO) with a single purpose: build the products and infrastructure necessary to bring Bitcoin as an asset across other blockchains.

Persistence
Persistence

Persistence powers next-gen DeFi products that have the power to bring mainstream/traditional capital into crypto.

Transak
Transak

Transak enables easy swapping of fiat and crypto currencies within apps and wallets.

IDLE Finance
IDLE Finance

Idle is a decentralized asset management protocol that allows users to automatically and algorithmically manage their digital asset allocation among different third-party DeFi protocols.

KINE Finance
KINE Finance

Kine is a decentralized protocol which establishes general purpose liquidity pools backed by a customizable portfolio of digital assets.

Everscale
Everscale

Everscale is a new and unique blockchain design that proposes a scalable decentralized world computer, paired with a distributed operating system — Ever OS.

ReSource
ReSource

ReSource is a blockchain based network of businesses that increase prosperity by trading with each other.

Paladin
Paladin

Paladin is a decentralized, non-custodial governance lending protocol where users can either loan the voting power in their governance token, or borrow some voting power.

Superfluid
Superfluid

Superfluid is a protocol introduced a new token standard, with the power to manage cash flows, and execute them automatically on-chain over time in a non-interactive way.

DAOfi
DAOfi

A Decentralized Exchange for Social Tokens.

Archer DAO
ArcherDAO

Archer (relaunched as Eden Network) increases Ethereum miners revenue and aims to build products for users utilising MEV.

Multiple
Multiple

Multiple Protocol is a Decentralized Finance (DeFi) protocol based on Ethereum that allows expert traders (GP) to provide professional AMM liquidity strategies which in turn ensures users (LP) securely benefit from the best yielding products for Uniswap v3.

BR Portfolio: DAOs and Communities
DAOs unlock better collaboration. We’re investing via major DAOs, while also directly supporting the creation of DAO infrastructure and tooling.
Decor
BR Portfolio: Data and Security
Blockchain secures not only what is transferable, but also what is personal, private and unique
Bitquery
Bitquery

Bitquery is a set of software products that parse, index, and store blockchain data in a unified way.

Aggregion
Aggregion

Aggregion is resolving the issue of trust and security to develop products built on joint first party data.

Ocean Protocol
Ocean Protocol

Ocean Protocol - is a decentralized data exchange protocol to make data and services universally available for applications in AI and beyond.

Qset
Qset

Qset - is the state of the art market data collection, storage, and processing infrastructure.

EPNS
EPNS

Ethereum Push Notification Service is a decentralized protocol allowing blockchain users to receive notifications for on-chain or off-chain activity.

Nansen
Nansen

Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallets labels.

arweave
arweave

Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever in Permaweb.

Nodle
Nodle

Nodle is the world’s largest ecosystem of connected devices, providing infrastructure, software and access to data for the Internet of Things.

Boson Protocol
Boson Protocol

Boson Protocol is a capture-resistant decentralized autonomous commerce (dCommerce) ecosystem that automates digital to physical redemptions.

dClimate
dClimate

dClimate - is a transparent, decentralized marketplace where climate data, forecasts, and models are standardized, monetized, and distributed.

Immunefi

Web3's leading bug bounty platform, protecting $60 billion in user funds.

Decor
BR Portfolio: Trading
Through our trading and staking activities, together with the top exchanges, we’re providing liquidity ranging from 250K-500K BTC every month in CeFi and DeFi.
Binance
Binance

Beyond operating the world's leading cryptocurrency exchange, Binance spans an entire ecosystem.

OKEx
OKEx

OKEx is one of the largest cryptocurrency exchanges with advanced financial services.

Delta Exchange
Delta Exchange

Delta Exchange building the most liquid and trusted global cryptocurrency derivatives exchange that can ably serve both retail and institutional traders.

T-Digital
T-Digital

T Digital is a company offering software solutions for the financial industry, leveraging many years of experience in IT development and digital solutions.

Hanbitco Exchange
Hanbitco Exchange

Hanbitco is a licensed crypto exchange from South Korea that launched in November 2017.

Globe Exchange
Globe Exchange

Globe is a new crypto derivatives exchange where institutions and consumers transact digital currencies like Bitcoin via perpetual futures contracts.

Decor
BR Portfolio: Metaverses, Gaming & NFTs
DappCraft
DappCraft

DappCraft creates the experiences for metaverses.

Digital fashion, smart-contracts, 3D scenes, 3D animations, games, events.

Curio
Curio

Curio is the premier NFT platform for the biggest names in entertainment.

Illuvium
Illuvium

Illuvium is an open-world RPG adventure game built on Ethereum Blockchain. Journey across a vast and varied landscape on your quest to hunt and capture deity-like creatures called Illuvials.

Decentraland
Decentraland

Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain. Within the Decentraland metaverse users can create, experience, and monetize their content and applications.

Cryptovoxels
Cryptovoxels

CryptoVoxels is a virtual world and metaverse, powered by the Ethereum blockchain. Players can buy land and build stores and art galleries. Editing tools, avatars and text chat are built in.

NFTS.WTF DAO
NFTS.WTF

Your source for non-fungible truth and #NFTs WTF moments!

Sandbox
Sandbox

The Sandbox is a virtual world where players can play, build, own, and monetize their virtual experiences.

Somnium Space
Somnium Space

Somnium is an Open, Social, Virtual Reality world. A world with its own economy and its own currency. A VR world with its own Marketplace, Games, Social experiences and Virtual Land ownership.

MeritCircle
MeritCircle

Merit Circle is a decentralized autonomous organization focused on developing the play-to-earn economy.

Ignite Tournaments
Ignite Tournaments

Introducing the world’s first play-to-earn mobile esports tournament organization and streaming platform with payouts in crypto and NFTs.

Yesports
Yesports

World’s Largest Web 3.0 Engagement Platform for Esports.

Quest Gamers
Quest Gamers

Quest Gamers is developing a super-app custom-built for play-to-earn managers.

BLOCKS
BLOCKS

BLOCKS offers flexible solutions for community building and utility enhancement.

CryptoPunk #9204
CryptoPunk #9204

CryptoPunks is the most popular and high valued NFT art project. 10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain.

BR People
Sharif Sakr
Managing Partner
Sharif Sakr

Sharif has built a reputation as a global technology scout. Prior to scouting for investment purposes, he did this as a journalist for BBC World TV News and the BBC Business Unit, as well as commentating for outlets like Engadget, Forbes, Bloomberg, CNBC and Sky TV. Sharif is also an Industry Advisor at Saïd Business School, Oxford University, specialising in digital product management.

Shawn (Shota) Lomtadze
Partner, Operations
Shawn (Shota) Lomtadze

Shawn has a background in M&A and FMCG for Société Générale, Kao Brands, Versace Group other others. He leads operations at the shared HQ of BR Capital and T-Digital in Tbilisi, Georgia. He has an official role alongside the Georgian government in creating a more fintech-friendly jurisdiction in his home country.

Lau Geckler
Partner, Corporate Affairs
Lau Geckler

Lau supervises our regulatory, governance and corporate affairs. He also leads our fund’s presence in Asia (out of Singapore). He’s a business doctor who has worked for publicly listed companies like HP and WPP, but who’s talent lies in buying and integrating smaller companies while preserving their DNA. He’s accomplished this with more than 40 separate businesses.

Eugen Sandmann
Partner, Trading (SP1)
Eugen Sandmann

Eugen is brings day-to-day financial wisdom to our trading teams and partners, including T-Digital. He has 20 years’ experience in traditional finance for top Swiss and German portfolio management firms including Terreus Capital AG, Euro Trust Asset Management and International Finanzmanagement Consulting AG/D-Trade.

Alex Buchman
Partner, Investor Relations
Alex Buchman

Alex is an entrepreneur and angel investor with over 20 years’ experience building IT and IoT solutions and startups, including 15 years in the online gaming industry, including worldwide distribution agreements and integration of games into social networks.

Kevin Dougherty
Partner, Digital Assets Hedge Fund (SP2)
Kevin Dougherty

Kevin leads BR Capital’s Digital Assets Hedge Fund. He was previously a Partner at crypto hedge fund Decentral Park Capital, which he helped launch in 2017. Kevin has more than 20 years experience at traditional investment banks and hedge funds. While Portfolio Manager at Pharos Financial Group, Pharos was awarded ‘Best Hedge Fund Manager’ by Hedge Funds World in 2010 in recognition of outperformance during and after the 2008 financial crisis.

Vlad Martynov
General Partner
Vlad Martynov

Vlad was previously an advisor to the Ethereum Foundation and has been advising and investing in blockchain projects since 2015. He has founded and successfully exited multiple tech startups, including Wild Apricot (sold to Personify Corp in the US in 2017), YotaDevices (sold to China Baoli in 2015) and Damgaard/Navision (sold to Microsoft in 2003).

Vlad Zhukov
Investment Manager
Vlad Zhukov

Vlad is our investment manager with five years in crypto and blockchain projects plus four years in banking, investment and IT startups. With extensive knowledge of the crypto industry, Vlad is well-equipped to navigate the rapidly changing landscape, supervising all our DeFi and NFT positions.

Katerina Mordikova
CFO
Katerina Mordikova

Katerina is responsible for Fund, Investment Management and Advisory company finance functions including control of NAV calculations, audit processes and investor onboarding. She has a Diploma with Excellence in Accounting, Analysis and Audit and has worked for international companies and family offices in financial / commercial roles, including most recently in the WPP Group.

Pitch to us
Live DeFi vs TradFi comparison
The chart below tracks the current yield of a basic DeFi investment in comparison to the TradFi yield from US Treasury bonds. In this case, the DeFi investment is into a mainstream UniSwap pool that enables DeFi users to swap between wrapped Bitcoin and USDC - a typical position within our BR21 SPC SP1 liquid portfolio.
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