YAP Capital

What they fund

• Stage & Sector — Early-stage Web3 and blockchain companies, specifically in DeFi, DePin, infrastructure, and interoperability [1].
• Founder Profile — Mission-driven, visionary founding teams who need help sharpening project fundamentals and bridging the gap between Web2 and Web3 [1].
• Geography — Global, with a focus on building scalable blockchain-based companies [1].
• Shape — Companies requiring deep expertise in tokenomics design, business model refinement, go-to-market strategy, and community building [1].

Investment thesis

YAP Capital operates on the belief that Web3 entrepreneurs are the ultimate agents of positive, transformational change for society and the economy [1]. The firm anchors its narrative in the historical analogy of Yapese stone money (Fei Stones), drawing parallels to Bitcoin's consensus-based, oral-agreement distributed ledger to emphasize that "consensus is power" [1]. Operating on a "founders for founders" model, the firm aims to spur progress by empowering founding teams to build impactful, scalable blockchain-based companies [1]. The firm leverages decades of experience in company building, top-tier financial and strategy institutions, and deep native understanding of the crypto asset class to support visionary founders on business fundamentals, tokenomics, and marketing [1]. Members include highly successful web2 investors with an outstanding track record (currently 6 unicorn investments) who help founders raise larger rounds from different VCs [1].

Credibility: The thesis and historical analogy are explicitly stated on the firm's "Why YAP" and homepage sections [1]. The "founders for founders" model and specific value-add pillars (business development, tokenomics, marketing, fundraising, network, talent) are detailed under the "Our approach" section [1]. The track record of 6 unicorn investments is explicitly mentioned in the "Fundraising" subsection [1].

Value add

YAP Capital provides a comprehensive ecosystem to help founders build impactful and scalable blockchain-based companies. This includes business and product development support, leveraging decades of experience in company building and top-tier financial/strategy institutions [1]. They offer specialized tokenomics design, drawing on a deep, native understanding of the crypto asset class and published research like their "Decentralized Finance Report" [1]. Marketing and community building support helps bridge the gap between Web2 and Web3 customer acquisition [1]. Fundraising assistance is provided by members with a track record of 6 unicorn investments, helping founders raise larger rounds from different VCs [1]. The firm offers a global network of key investors and builders for knowledge sharing and co-operations, as well as access to top talent pools for hiring [1].

Fit verdict: Ideal for Web3 founders who need hands-on operational support in tokenomics, business strategy, and fundraising, backed by a network of successful Web2 investors.

Founder diligence script:

• How does YAP Capital's tokenomics expertise translate into specific, actionable adjustments for our economic model?
• What is the typical timeline and process for YAP Capital to facilitate introductions to follow-on VCs for larger rounds?
• How does the firm's "consensus is power" philosophy influence its decision-making pace and board involvement?
• Can you share examples of how your Web2 investor network has successfully helped portfolio companies bridge the Web2/Web3 gap?

Portfolio focus

• Peaq Network — A DePin (Decentralized Physical Infrastructure Networks) project [1].
• KRNL — Focused on smart contracts [1].
• NodeOps — Providing node services [1].
• Zoth — Operating in the DeFi sector [1].
• Across Protocol — Specializing in cross-protocol interoperability [1].

Notable investments & exits

The documents do not list specific realized exits or losses for YAP Capital's portfolio companies [1].

Strategic implications

YAP Capital's edge lies in its unique blend of Web3-native expertise (tokenomics, DeFi) and seasoned Web2 operational experience (Bain PE, e-commerce founders), allowing it to support founders who need to bridge the two worlds [1]. The firm's heavy emphasis on "consensus" and "founders for founders" suggests a highly selective, relationship-driven investment process that may prioritize cultural fit and founder alignment over pure financial metrics [1]. The lack of disclosed fund size, vintage, or specific co-investors indicates a private, family-office-led structure that may deploy capital opportunistically rather than following a strict fund deployment schedule [1].

Where they could go further

YAP Capital could strengthen its market position by publicly sharing more case studies or success metrics from its 6 unicorn investments to attract higher-quality deal flow [1]. The firm could expand its value proposition by establishing a dedicated Web3 talent acquisition program, given its stated deep connections to top talent pools [1]. YAP Capital should consider publishing its tokenomics research more frequently to establish thought leadership and attract founders seeking rigorous economic design support [1].