SOSV is a global multi-stage venture fund headquartered in New York, founded in 1995 by Sean O'Sullivan. Unlike traditional VC firms, SOSV operates through a network of specialist accelerator programs that provide hands-on support, lab infrastructure, and capital to early-stage companies. The fund has backed more than 1,000 companies across its programs and reported assets under management of approximately $1.1 billion as of 2022, making it one of the more active early-stage funds by deal volume globally.
SOSV's accelerator model distinguishes it from most crypto-focused funds. Its blockchain program, dlab, operates out of Hong Kong and targets Web3 infrastructure, decentralized finance, and digital asset startups at the pre-seed and seed stage. Alongside dlab, SOSV runs HAX (hardware and deep tech, based in Newark and Shenzhen), IndieBio (life sciences), Chinaccelerator, and MOX (mobile, based in Taipei). Each program operates semi-independently with dedicated partners, but draws on SOSV's shared LP base and follow-on capital.
Notable investments
- BTCS Inc. – one of the earliest publicly traded blockchain companies in the US, backed through SOSV's crypto pipeline.
- Republic – equity crowdfunding platform that expanded into crypto asset offerings.
- dlab portfolio companies – SOSV's dlab cohorts have included DeFi infrastructure builders and token-layer projects, though the fund does not publicly list all holdings.
- Hardware and IoT companies via HAX – many HAX graduates have integrated blockchain-based supply chain or device identity components.
Public information on the full crypto portfolio is limited. SOSV does not publish a comprehensive deal list, and many dlab investments are early-stage companies that have not yet raised public rounds.
Team
Sean O'Sullivan is the founder and managing general partner. He is a serial entrepreneur best known for co-founding MapInfo in the 1980s, which was later acquired by Pitney Bowes. O'Sullivan coined the term "cloud computing" in an early industry document. He oversees SOSV's overall fund strategy from New York. William Lohse serves as a managing partner. Duncan Turner has led parts of the fund's Asia and blockchain operations. Individual program directors run day-to-day accelerator decisions. Public information on the full partner team is limited.
Recent activity
Between 2023 and 2025, SOSV maintained its accelerator cadence of roughly 150 new companies per year across all programs. The fund has emphasized deep-tech and climate hardware through HAX, while dlab continued sourcing blockchain and Web3 cohorts in Hong Kong despite the city's shifting regulatory environment. SOSV participated in several follow-on rounds for HAX hardware graduates that incorporated distributed ledger components. The fund has not announced a new flagship crypto vehicle as of early 2026, and its activity in pure-play token investments appears measured relative to dedicated crypto funds.
SOSV's geographic focus spans North America, East Asia, and Europe, with a particular operational depth in the US–China corridor through Chinaccelerator and HAX's Shenzhen facilities. The fund's long-term edge lies in its accelerator infrastructure rather than late-stage deal flow. For investors tracking early Web3 infrastructure bets, dlab's cohort companies represent the clearest signal of SOSV's crypto thesis. Further due diligence should reference SOSV's Crunchbase profile and the fund's official site for current program details and portfolio disclosures.