![[Crucible-Capital.webp|200]] Company website: https://www.cruciblecap.xyz/ ### Introduction **Crucible Capital**, an early-stage venture capital firm specializing in digital and physical infrastructure, was founded in 2024 by Meltem Demirors, former Chief Strategy Officer of [CoinShares](https://coinshares.com/). Headquartered in Wilmington, Delaware, with operations influenced by Demirors' New York-based presence, the firm's mission is to back founders who bring energy, compute, connectivity, and other digital commodities onchain, fostering global, permissionless markets with deep liquidity. Crucible's key focus areas include tokenized assets, decentralized physical infrastructure networks (DePIN), and the intersection of crypto with energy and AI compute, emphasizing infrastructure finance evolution and onchain trading of real-world resources. As a seed-stage investor, the firm aims to automate workflows, optimize operations, and enhance performance in emerging digital economies, with a portfolio spanning data centers, AI infrastructure, and blockchain-enabled commodities. ### Key Products and Technology - **Venture Capital Investments**: Seed-stage funding for startups in digital infrastructure, tokenized real-world assets (RWAs), and DePIN projects; focuses on companies enabling onchain trading of energy, compute, and connectivity. Features include strategic advisory, network access, and emphasis on infrastructure finance models; applications target automation of resource management and creation of liquid markets for digital commodities. - **Portfolio Management and Advisory Services**: Supports portfolio companies in areas like data center operations, AI cloud solutions, and energy markets participation; leverages expertise in crypto and traditional finance for workflow optimization and performance enhancement. Technologies involve blockchain integration for tokenized assets; applications include demand response in energy sectors and scalable compute infrastructure. - **Thought Leadership and Research**: Publishes insights on infrastructure finance, DePIN, and data center economies via Substack; provides primers on evolving markets to guide investments and industry trends. Features dense analysis of fundamentals; applications in educating stakeholders and identifying opportunities at the nexus of crypto, energy, and AI. ### Team and Leadership - **Meltem Demirors, Founder and General Partner**: Leads investment strategy and operations; veteran in crypto and digital assets with prior roles at CoinShares and Digital Currency Group; focuses on energy-compute intersections and tokenized markets. [@Melt_Dem](https://x.com/Melt_Dem). - **Kelly Greer, Partner**: Handles portfolio support and collaborations; experienced in venture operations, having joined in April 2025; background in tech and finance ecosystems. ### Recent News and Developments (2025) | Date | Event | Details | |------------|--------------------------------|-------------------------------------------------------------------------| | June 11, 2025 | Investment in Standard Nuclear | Led funding round for TRISO nuclear fuel production, aligning with energy infrastructure focus. | | May 13, 2025 | Co-Led Funding in Nirvana Labs | Invested $6M in seed extension for Web3 bare metal cloud, emphasizing high-performance compute. | | April 29, 2025 | AI 100 List Recognition | Selected for CB Insights' 2025 AI 100, highlighting innovation in AI infrastructure investments. | | April 7, 2025 | Welcomed Kelly Greer as Partner | Announced addition to team via Substack, strengthening operational capabilities. | | March 25, 2025 | Commentary on Crypto Markets | General Partner Meltem Demirors discussed altcoin recovery and memecoins on Bloomberg. | | February 26, 2025 | Response to Bybit Hack | Demirors commented on CNBC that the incident highlights North Korea risks, not inherent crypto flaws. | | January 28, 2025 | Substack Post on Capex Implications | Analyzed AI spending worries and implications for payers/receivers in "Believe in Something." | ### Partnerships and Collaborations - **Laser Digital**: Anchor investor and strategic partner, providing full-service digital asset support; collaboration on building long-term relationships in crypto infrastructure. - **Jump Crypto**: Co-led $6M seed extension in Nirvana Labs for Web3 cloud infrastructure in May 2025. - **Portfolio Company Collaborations**: Works closely with investees like [[Standard Nuclear]] for energy services and Nirvana Labs for compute solutions, offering advisory and network access. ### Closing Note With $75 million targeted across two funds and anchors like [Laser Digital](https://www.laserdigital.com/), Crucible Capital is in an early operational stage as a seed-focused VC, with a strong future outlook driven by investments in high-growth sectors like AI compute, energy infrastructure, and tokenized assets amid bullish crypto market trends. *Report generated July 28, 2025*