Onchain Foundation

What they fund

The Foundation supports long-standing Web3 infrastructure projects, particularly Layer 2 solutions that enable real-world applications in emerging markets on Ethereum [1].

Investment thesis

The Onchain Foundation is a non-profit collective advancing blockchain adoption and implementation to benefit businesses and consumers, with a vision of a world where humanity is onchain [1].

• Infrastructure focus — The Foundation backs long-standing Web3 infrastructure projects, specifically highlighting Lisk, a Layer 2 blockchain dedicated to bringing Web3 adoption in emerging markets back to Ethereum [1].
• Strategic alignment — Lisk is a member of the Optimism Superchain, positioning the Foundation’s support within the industry’s first truly interoperable supernetwork alongside Base, Optimism, Mode, and Worldchain [1].
• Democratizing access — The Foundation supports projects that democratize blockchain accessibility for developers globally, aiming to enable real-world applications in emerging markets to operate efficiently on Ethereum [1].

Credibility: The Onchain Foundation website explicitly states its mission to advance blockchain adoption and highlights Lisk as a key project, detailing its role in the Optimism Superchain and its focus on emerging markets [1].

Value add

The Foundation provides a non-profit structure focused on advancing blockchain adoption, with a strong emphasis on transparency through monthly financial reports [1].

Fit verdict: Suitable for founders building Web3 infrastructure with a focus on emerging markets and interoperability within the Ethereum ecosystem.

Founder diligence script:

• How does the Foundation’s support for Lisk align with my project’s roadmap and technical architecture?
• What specific resources or connections does the Foundation offer to help scale in emerging markets?
• How does the Foundation’s governance structure impact decision-making and project support?
• What are the expectations for transparency and reporting from funded projects?
• How does the Foundation measure success and impact for its portfolio projects?

Portfolio focus

Lisk is a key portfolio project, a Layer 2 blockchain focused on Web3 adoption in emerging markets and part of the Optimism Superchain [1].

Strategic implications

The Foundation’s edge lies in its non-profit structure and focus on emerging markets, which may attract founders seeking long-term, mission-driven support rather than traditional VC returns. A key risk is the potential for slow decision-making due to its collective governance structure, which could hinder agility in the fast-moving Web3 space. The signal to watch is the Foundation’s expansion beyond Lisk; if it diversifies its portfolio, it may signal a broader strategic shift towards supporting a wider range of Web3 infrastructure projects.

Where they could go further

The Foundation could benefit from establishing a more formalized investment process to ensure consistent support across its portfolio. Expanding its focus to include more diverse use cases beyond emerging markets could help it capture a broader range of Web3 opportunities. The Foundation could enhance its value proposition by offering more hands-on support, such as technical resources or go-to-market assistance, to its portfolio projects.