CMT Digital is a Chicago-based venture capital firm founded in 2017 as the digital asset investment arm of CMT Group, a global quantitative trading firm. The firm focuses exclusively on blockchain, crypto, and digital asset technologies. Since inception, CMT Digital has become one of the most active and long-standing U.S. investors in the crypto ecosystem, combining traditional market expertise with early-stage venture capital.
CMT Digital invests across the blockchain stack—from infrastructure and protocols to fintech and applications driving the on-chain economy.
Its focus includes crypto infrastructure, stablecoins, DeFi, and fintech platforms that enable financial inclusion through blockchain. The firm actively backs founders building technologies that support the transition to a digital and tokenized financial system.
In October 2025, CMT Digital closed its fourth crypto venture fund at $136 million, slightly below its $150 million target but still its largest to date. The raise brought total assets under management to more than $390 million across four funds. The fund attracted capital from family offices, high-net-worth individuals, and institutional investors, with some investors turned away due to oversubscription.
CMT Digital began fundraising for this vehicle in mid-2024 and has already deployed roughly 25% of the fund, including early investments in Coinflow and Codex, both stablecoin infrastructure startups.
Fund IV continues the firm’s strategy of backing crypto-native and fintech disruptors while remaining open to emerging use cases in decentralized finance, blockchain applications, and tokenization.
The firm has achieved strong returns in its previous funds, with successful IPOs from portfolio companies Circle and Figure in 2025.
Leadership
CMT Digital’s leadership team includes Sam Hallene, Investment Partner, and senior executives from its parent company, CMT Group, which has decades of experience in capital markets and technology-driven trading. The firm’s partners bring a combination of quantitative finance expertise and blockchain-specific experience, allowing them to assess both financial and technical dimensions of early crypto ventures.
Investment Strategy
CMT Digital applies a disciplined, data-driven investment approach informed by its roots in quantitative trading. The firm invests across seed, Series A, and selective growth rounds, focusing on technologies that advance the blockchain economy’s infrastructure and regulatory maturity. Its investment philosophy emphasizes long-term conviction, active engagement with portfolio founders, and diversification across stablecoin ecosystems, DeFi protocols, and tokenization platforms.
The firm views crypto as an evolving layer of financial infrastructure rather than a speculative market, and supports regulatory clarity and institutional adoption as key growth enablers for the sector.
Notable Investments
CMT Digital has invested in over 200 blockchain-related companies since 2017, including major names such as:
The firm’s early backing of Circle and Figure proved highly successful in 2025, as both companies went public with strong market debuts. It also maintains a diverse portfolio across DeFi, Web3 infrastructure, and tokenization ventures.
Notable Exits
CMT Digital’s most prominent exits include Circle, which surged 167% during its NYSE debut in June 2025, and Figure, which climbed 24% following its Nasdaq listing in September 2025.
Bullish, another CMT-backed crypto exchange, went public in August 2025, soaring 218% on its first trading day. These exits mark significant liquidity milestones within the maturing digital asset venture landscape.
Other
CMT Digital’s background as an offshoot of a quantitative trading firm provides it with deep insight into market structure, liquidity, and regulatory dynamics—an advantage that few crypto VCs possess.
Founders partnering with CMT can expect both capital and sophisticated guidance on token design, exchange strategies, and compliance.
While the firm remains crypto-native in focus, its emphasis on stability and institutional credibility differentiates it from more speculative Web3 funds.
United States
