Leo Capital is an early-stage venture firm headquartered in Singapore, investing primarily across South and Southeast Asia. The firm backs founders at the seed and pre-Series A stage, with a concentration in B2B software, fintech, and developer infrastructure. Its crypto and blockchain activity represents a smaller slice of a broader technology portfolio.
The firm was founded around 2018–2019. It operates as a relatively lean partnership rather than a large multi-stage fund, which allows it to move quickly at early checkpoints. Total assets under management have not been disclosed publicly. Leo Capital has made 5 recorded venture investments in the crypto and Web3 space, leading 2 of those rounds. Public information on individual deal sizes is limited.
Notable investments
- Fintech and payments infrastructure – Leo Capital has backed companies at the intersection of traditional finance and digital assets, particularly those targeting underserved markets in India and Southeast Asia.
- Specific crypto portfolio project names are not independently verifiable without live data access. The firm's broader tech portfolio is partially listed on its website at leocapital.vc.
Public information about individual Web3 portfolio companies is limited. The 5 investments catalogued here likely reflect selective exposure to blockchain-adjacent fintech rather than a dedicated crypto fund mandate.
Team
Rajul Garg is the founding Managing Partner. Before Leo Capital, he served as Managing Director at Nokia Growth Partners, Nokia's corporate venture arm, where he led investments across Asia. He is also a serial entrepreneur with operating experience in enterprise software. His background spans Silicon Valley, India, and Singapore.
Public information about additional partners or senior associates at Leo Capital is limited.
Recent activity
Leo Capital has continued backing early-stage B2B and fintech startups in India and Southeast Asia through 2024–2025. The firm has not announced a new dedicated crypto or Web3 fund as of the available public record. Its approach appears opportunistic toward blockchain-enabled fintech rather than thematic Web3 investing.
As a Singapore-based fund, Leo Capital benefits from the city-state's position as a regional hub for both traditional venture capital and regulated digital asset activity. The Monetary Authority of Singapore has provided clearer licensing frameworks for digital assets in recent years, which may expand the firm's options for structured crypto-adjacent deals.
Leo Capital is a generalist early-stage investor with selective exposure to fintech and crypto infrastructure. Founders seeking a Southeast Asia or India-facing early check from a team with deep operator experience may find it a credible partner. Given the small recorded crypto portfolio, the firm is best understood as a technology investor with occasional Web3 exposure rather than a dedicated digital asset fund. Further disclosures on AUM, fund vintages, and full portfolio remain limited in public sources.