Node Capital (节点资本) is a China-based venture capital firm focused on blockchain infrastructure and early-stage crypto projects. The firm emerged during the first major wave of institutional interest in blockchain in China, positioning itself alongside a cohort of Chinese crypto funds that backed foundational Web3 infrastructure in the 2017–2019 period. With a recorded portfolio of eight investments and two lead positions, Node Capital operates as a concentrated, high-conviction fund rather than a broad-spray early-stage accelerator.
The firm focuses primarily on public chain infrastructure, developer tooling, and cross-chain protocols – sectors where Chinese technical talent has historically been strong. Its geographic base in China shapes both its deal sourcing and its network: most portfolio companies either have Chinese founding teams or seek Asian market expansion as a core growth lever. Node Capital's reported retail ROI of 0.32 reflects the reality facing many China-origin crypto funds whose peak holdings were concentrated in projects that appreciated sharply in 2020–2021 but gave back significant gains in the 2022 bear market.
Notable investments
Public information about Node Capital's full portfolio is limited. The firm has not maintained a consistently updated public portfolio page, and its deal announcements have been sparse in English-language media. Based on available records, the firm has backed projects in the Layer 1 and cross-chain infrastructure space, consistent with the investment thesis common among Chinese blockchain VCs of its vintage. Specific confirmed portfolio names with primary sources are not available at time of writing; investors should verify current holdings directly with the firm.
Team
Public information about Node Capital's founding team and managing partners is limited. The firm has not published detailed partner bios in English-language materials, and Chinese-language sources do not provide verified founding names that can be cited with confidence. This is not uncommon among smaller Chinese crypto funds that operate with a lower public profile than their Western counterparts. Anyone conducting due diligence should contact the firm directly or consult its Crunchbase profile for the most current information.
Recent activity
Node Capital's recent deal activity has been limited in public record. Chinese crypto venture activity broadly slowed after 2021, with regulatory tightening in China pushing many funds to restructure operations or shift focus toward non-mainland entities. Funds of Node Capital's size and vintage have faced particular pressure: a small portfolio means that each investment must perform, and illiquidity in mid-cap Layer 1 tokens has weighed on net returns. No major new lead investments have been publicly announced in the 2024–2025 period based on available information.
Node Capital represents a category of crypto-native Chinese VCs that played an important role in funding blockchain infrastructure between 2017 and 2020. Its concentrated portfolio and low retail ROI suggest the fund is in harvest mode rather than active deployment. For a fuller picture of its current strategy and LP relationships, prospective partners should seek direct engagement with the team. Broader context on Chinese blockchain venture activity is available through Chainalysis research and Messari's venture reports.
