Protagonist portfolio

Protagonist has 13 portfolio companies on record at Recent Funding, with 3 investments in the last 12 months.

Website: protagonist.co.

X: @ProtagonistXYZ.

Type: Venture capital.

Portfolio on Recent Funding: 13.

Deals, last 12 months: 3.

Capital in their rounds: $123.5M.

Latest deal: Fab · Sep 11, 2026.

About this page

It is a venture capital firm based in Bay Harbor Islands, US, founded in 2022. Its most recent investment on record is Fab's Series A round in September 2026. By category, its portfolio leans toward AI infrastructure and compute (3) and Media and content (2). It has co-invested with CoinFund, Blockchain Builders Fund and Variant, most often CoinFund (2 rounds).

About Protagonist

Firm type: Venture capital.

Headquarters: Bay Harbor Islands, US.

Founded: 2022.

Stages: Seed, Series A, Series B, Series C, Growth.

Sectors: AI & Machine Learning, Cloud Computing, Consumer, Crypto & Web3, Deep Tech, Defense Tech, Digital Health, Energy, Enterprise Software, Fintech, Hardware, Healthtech, Media & Entertainment, SaaS, Semiconductors.

Check size: $10K to $1M.

Leads rounds: No.

Portfolio companies: 81.

Exits: 2.

Rounds led: 4.

Funds raised

Fund	Fund #	Size	Announced
PProtagonist Miami	Ifirst fund	$100M	Jul 12, 2022 coindesk.com

What Protagonist invests in

AI infrastructure and compute · 3 · 23%
Media and content · 2 · 15%
Climate and energy · 1 · 8%
Cybersecurity · 1 · 8%
Consumer and social · 1 · 8%
Crypto x AI · 1 · 8%
AI agents · 1 · 8%
Data and analytics · 1 · 8%

Protagonist recent investments

Company	Round	Date	Alongside
FFab	Series A	Sep 11, 2026	none named
LLevl	Seed	Feb 11, 2026	FalconX, Deus X Capital, Galaxy +4
EExowatt	Series A · $50M	Nov 14, 2025	Overmatch Ventures, Sam Altman, Dragon Global +6
TTemple	Seed · $5M	Oct 16, 2025	Selini Capital, Presto Labs, CMT Digital +6
ZZeroClick	Series A · $55M	Aug 20, 2025	Ryan Hudson, Anfa (lead), Ludlow Ventures +3
PPerle	Seed · $7M	Oct 8, 2024	HashKey Capital, Peer VC, CoinFund (lead)
RRaad	Seed · $2.25M	Aug 1, 2024	EV3, Tribe Capital, CoinFund (lead)
AAgentio	Seed · $4.25M	Nov 1, 2023	Rory Paterson, Michael Sugar, Neal Arthur +6

How Protagonist invests

Stage	Deals	Capital in rounds
Seed	5 63%	$18.5M
Series A	3 38%	$105M

Year	Deals	Capital in rounds
2023	1 13%	$4.25M
2024	2 25%	$9.25M
2025	3 38%	$110M
2026	2 25%	undisclosed

Protagonist portfolio companies

FFabSeries A · Sep 2026
LLevlSeed · Feb 2026
EExowatt$50MSeries A · Nov 2025
TTemple$5MSeed · Oct 2025
ZZeroClick$55MSeries A · Aug 2025
PPerle$7MSeed · Oct 2024
RRaad$2.25MSeed · Aug 2024
AAgentio$4.25MSeed · Nov 2023
WWalrusbacker
BBlokbacker
AAragobacker
SSeldonbacker
TTenstorrentbacker

Company	Round with Protagonist	Total raised	Latest raise
FFab	Sep 11, 2026 Series A	undisclosed	Sep 11, 2026 Series A
LLevl	Feb 11, 2026 Seed	$7M	Feb 11, 2026 Seed
EExowatt AI infrastructure and compute	Nov 14, 2025 Series A · $50M	$140M	May 7, 2026 Series A
TTemple	Oct 16, 2025 Seed · $5M	$5M	Oct 16, 2025 Seed
ZZeroClick Cybersecurity	Aug 20, 2025 Series A · $55M	$110M	Aug 5, 2026 round
PPerle	Oct 8, 2024 Seed · $7M	$16M	Aug 12, 2025 Seed
RRaad	Aug 1, 2024 Seed · $2.25M	$2.25M	Aug 1, 2024 Seed
AAgentio Consumer and social	Nov 1, 2023 Seed · $4.25M	$56.25M	Nov 18, 2025 Series B+
WWalrus Crypto x AI	backer · source	$140M	Mar 20, 2025 round
BBlok AI agents	backer · source	undisclosed	—
AArago AI infrastructure and compute	backer	$26M	Jun 18, 2026 Seed
SSeldon Data and analytics	backer · source	undisclosed	—
TTenstorrent AI infrastructure and compute	backer	$893M	Jan 7, 2026 Series B+

Most frequent co-investors

Similar investors

Investors whose portfolios on Recent Funding center on the same category (AI infrastructure and compute).

How this is counted

Firm profile: Fundraising Fox Open Dataset v2026-11, CC BY 4.0. Track-record counts are theirs, not Recent Funding's.

Venture funds Protagonist raised, from the list of new VC funds compiled by Shai Goldman (Brex). Each size links to the article that states it, or to that list where no article was found. All new funds: new VC funds.

Share is of the 8 rounds on Recent Funding that name Protagonist. Rounds with no announced date are left out of the year split, and "round" is a round whose stage is not on file.

Portfolio companies are the companies on Recent Funding with a round that lists Protagonist, which is a subset of its real portfolio. API: /api/v1/investors/protagonist (get a free API key). More: the most active VC firms and new venture capital funds.