F-Prime Capital is the venture capital arm of the Fidelity Investments family, operating under the broader Devonshire Investors umbrella owned by the Johnson family. Based in Boston, Massachusetts, with an additional presence in San Francisco, the firm deploys capital across two primary verticals: healthcare and technology. Its crypto and blockchain activity represents a focused, selective slice of a much larger multi-stage investment program that spans seed through growth equity.
The fund does not publicly disclose its assets under management, which is consistent with its structure as a family-office-affiliated vehicle rather than a traditionally marketed institutional fund. F-Prime Capital was formalized under its current brand around 2016, though the underlying Devonshire investment operations trace back several decades through Fidelity's broader private investment history. Its backing by one of the world's largest asset managers gives it patient capital and a long investment horizon that distinguishes it from pure-play crypto-native funds. Public information on its total AUM is limited.
The firm's most recognized investment is its early-stage position in Moderna, made years before the company's 2018 IPO and subsequently the COVID-19 vaccine success, which generated one of the most consequential returns in venture history. Beyond biotech, F-Prime has backed enterprise software and fintech companies across the United States. In the digital assets space, the firm's tracked portfolio of blockchain and crypto-adjacent investments is selective – roughly six known positions as of mid-2026 – reflecting a deliberate rather than broad-net approach to the sector.
Notable investments
- Moderna – early venture position in the mRNA biotech company prior to IPO; one of the highest-profile exits in F-Prime's history
- Veracyte – genomic diagnostics company, backed during early growth phase
- Twist Bioscience – synthetic biology platform; F-Prime participated in pre-IPO rounds
- CareDx – transplant diagnostics; part of the firm's sustained healthcare thesis
- Crypto and blockchain investments tracked on platforms such as Crunchbase number approximately six known deals, with five identified as lead positions – specific project names in the on-chain or DeFi space are not fully disclosed publicly
Team
F-Prime Capital's investment teams are organized by vertical. Amir Nashat serves as a managing partner and leads the life sciences practice, having joined from the Polaris Partners ecosystem. The technology and fintech team operates with a smaller public profile. The firm's leadership benefits from deep ties to Fidelity's analyst network, proprietary deal flow from Fidelity Ventures alumni, and access to public market research that informs private investment timing. Full partner-level bios across the crypto team are not published on the firm's website, and public information on individual crypto deal leads is limited.
Recent activity
Between 2024 and early 2026, F-Prime Capital maintained a cautious posture in digital assets, consistent with the broader institutional hesitation that followed the 2022–2023 sector contraction. The firm did not announce major new blockchain-native fund vehicles during this period, unlike some competitors who launched dedicated Web3 vehicles. Its strategy appears to favor fintech infrastructure plays over speculative token projects – fitting for a fund that answers to long-term family capital rather than short-cycle LP redemption pressure. F-Prime's official site lists its focus areas but does not publish a complete portfolio for its digital assets activity.
With a reported retail ROI of 1.56x across tracked crypto positions and five lead investments on record, F-Prime Capital reads as a disciplined, thesis-driven participant in the space – not a prolific deal machine. Investors watching this firm should track its parent company Fidelity's expanding crypto custody and ETF footprint, which may signal increasing appetite for direct venture bets in adjacent blockchain infrastructure over the next 12 to 24 months. The alignment between Fidelity's public-markets crypto products and F-Prime's private investment activity is a dynamic worth watching.
