Inception Capital

Inception Capital is an early-stage web3 venture capital firm investing in blockchain innovation, with operations in the British Virgin Islands, Chinese Mainland, and United States. The firm manages nearly $100 million in assets, with an estimated valuation of $2 million and 1-10 employees; it also closed a $30 million Fund of Funds in January 2024. Its limited partners include Bill Ackman, Garry Tan, and Alan Howard, with portfolio investments spanning Syncracy Capital, Escape Velocity, and Alliance. Rebranded from OP Crypto in 2024, the firm's AUM grew, though an $80 million fund backed by Bill Ackman began winding down by September 2024 after founder David Gan relinquished key responsibilities. Inception Capital was founded in 2021 by David Gan. Its business model centers on raises and manages venture funds from limited partners to invest in early-stage web3 startups, protocols, and emerging fund managers.