North Island Ventures

High-Level Overview

North Island Ventures is a New York-based venture capital firm established in 2020 that has positioned itself as a leading investor in the cryptocurrency and blockchain sectors.[1][2] The firm's mission centers on providing visionary founders with capital, conviction, and lasting support to foster innovation in emerging blockchain technologies and Web3 applications.[1] With approximately $300 million in assets under management, North Island Ventures targets early-stage companies across pre-seed, seed, and Series A stages, focusing on sectors including DeFi, NFTs, digital identity, blockchain cybersecurity, cross-chain interoperability, and decentralized science.[2]

The firm's investment philosophy emphasizes identifying and nurturing promising projects with the potential to transform the digital economy through active involvement and strategic guidance.[1] Rather than taking a passive capital-deployment approach, North Island Ventures combines financial support with hands-on assistance, helping portfolio companies navigate the complexities of the crypto and blockchain landscape to achieve sustainable growth. This approach has resulted in a diversified portfolio spanning multiple verticals within the Web3 ecosystem, reflecting the firm's conviction that blockchain technology will reshape financial services, enterprise software, and technology infrastructure broadly.

Origin Story

North Island Ventures was founded in 2020 by Travis Scher, James Hutchins, and Glenn Hutchins, three entrepreneurs and investors with deep experience in technology and finance.[2][3] Glenn Hutchins, who serves as Co-Founder and Chairman, brings significant credibility and network strength to the partnership, while James Hutchins operates as Co-Founder and Managing Partner.[4] The founding team emerged during a pivotal moment in crypto's maturation—when institutional capital was beginning to recognize blockchain's potential beyond speculative trading, and when infrastructure projects were starting to address real scalability and interoperability challenges.

The timing of North Island Ventures' launch proved strategic. By 2020, the crypto market had matured sufficiently to support serious venture investment, yet remained nascent enough that early-stage capital could capture significant upside in foundational technologies. The firm quickly established credibility through high-quality investments in companies like Axelar, Dapper Labs, ImmuneFi, Flow, and Polymer Labs—projects that addressed critical infrastructure gaps and user experience challenges in blockchain.[1][2] This early track record positioned North Island Ventures as a discerning investor rather than a speculative capital provider, attracting both limited partners and quality deal flow.

Core Differentiators

Investment Thesis and Sector Focus

North Island Ventures distinguishes itself through a disciplined focus on infrastructure, security, and application-layer innovation rather than speculative tokens or meme projects. The firm's concentration on DeFi, digital identity, blockchain cybersecurity, and cross-chain interoperability reflects a conviction that sustainable value creation in Web3 emerges from solving genuine technical and user experience problems.[2] This thesis-driven approach attracts founders building serious technology rather than quick-flip projects.

Capital Deployment Model

The firm's second fund, NIV Fund II, closed with $125 million in commitments and targets 30 to 40 investments with initial check sizes ranging from $250,000 to $3 million.[2] This sizing strategy allows North Island Ventures to maintain meaningful ownership stakes while deploying capital across a diversified portfolio. The historical average check size of $2.3 million demonstrates the firm's ability to scale follow-on investments in successful portfolio companies.[2]

Operational Support and Network

Beyond capital, North Island Ventures provides active involvement in portfolio company strategy, leveraging the founders' networks and operational expertise. The presence of experienced operators like Glenn Hutchins—a seasoned investor and entrepreneur—signals that the firm can offer more than financial resources. This differentiator becomes particularly valuable in the crypto space, where regulatory uncertainty, technical complexity, and market volatility create challenges that require experienced guidance.

Track Record and Portfolio Quality

The firm's portfolio includes some of the most significant infrastructure projects in blockchain: Axelar (cross-chain communication), Dapper Labs (consumer blockchain applications), ImmuneFi (security), and Flow (blockchain platform).[1][2] These investments demonstrate pattern recognition and conviction in identifying projects that would become category leaders. A portfolio of 53 investments as of early 2025 shows consistent deal flow and the ability to maintain investment velocity.[2]

Role in the Broader Tech Landscape

North Island Ventures operates at the intersection of several powerful macro trends. First, the firm is riding the maturation of blockchain infrastructure—the shift from speculative trading to genuine utility and adoption. As enterprises and developers increasingly recognize blockchain's potential for supply chain transparency, decentralized finance, and digital identity, early-stage infrastructure investors like North Island Ventures capture disproportionate value.

Second, the firm benefits from institutional capital's growing acceptance of crypto as an asset class. The entry of traditional venture firms, family offices, and endowments into Web3 investing has legitimized the space and created competitive pressure for established players to demonstrate expertise and conviction. North Island Ventures' focused thesis and quality portfolio position it as a trusted partner for LPs seeking exposure to blockchain innovation without excessive speculation.

Third, the firm influences the broader ecosystem by signaling which problems matter most. By investing heavily in cross-chain interoperability, cybersecurity, and digital identity, North Island Ventures shapes founder priorities and market attention. Portfolio companies benefit from the firm's implicit endorsement and network effects—other investors, partners, and customers pay attention to North Island Ventures' bets.

The regulatory environment also works in the firm's favor. As governments worldwide develop clearer frameworks for crypto and blockchain, the infrastructure and compliance-focused projects that North Island Ventures backs become increasingly valuable. The firm's positioning as a serious, thesis-driven investor rather than a speculative player provides resilience during regulatory uncertainty.

Quick Take & Future Outlook

North Island Ventures has established itself as a disciplined, infrastructure-focused investor in an ecosystem often characterized by hype and speculation. The firm's $300 million in AUM, experienced founding team, and quality portfolio suggest it will remain a significant player in Web3 venture capital through the next market cycle.

Looking forward, several trends will shape the firm's trajectory. First, the consolidation of blockchain infrastructure—as competing Layer 1 and Layer 2 solutions mature, winners will emerge, and North Island Ventures' portfolio companies will either become category leaders or face competitive pressure. Second, the regulatory clarity that emerges over the next 2-3 years will determine which use cases achieve mainstream adoption; the firm's infrastructure focus positions it well for this transition. Third, the integration of blockchain into enterprise systems will accelerate, creating demand for the security, interoperability, and identity solutions that populate North Island Ventures' portfolio.

The firm's influence will likely expand as Web3 moves from a venture-backed niche to a foundational technology layer. By backing infrastructure rather than applications, North Island Ventures has positioned itself to benefit from network effects—as more developers and enterprises build on the protocols and platforms in its portfolio, the firm's returns compound. In essence, North Island Ventures is betting that blockchain will become as essential to digital infrastructure as cloud computing or APIs, and its portfolio reflects that conviction.