ENERGY. COMPUTE. CRYPTO.
ENERGY. COMPUTE. CRYPTO.
YOU CAN NEVER ESCAPE THE LAWS OF PHYSICS

In every new hardware paradigm, a wave of software innovation follows in the wake of massive capital deployments as new assets require monitoring, maintenance, and active management.
We see a future where energy, compute, connectivity, and other digital commodities are traded onchain in global, permissionless markets with deep liquidity.

CRUCIBLE BACKS FOUNDERS FORGING THE FOUNDATIONS OF THE DIGITAL INFRASTRUCTURE ECONOMY
How we see the world

How we see the world

Human progress has always been defined by

atoms over spacetime.

We believe that the role of capital

allocators is to find, fund, and

facilitate the most efficient use of

these thermodynamically constrained

resources at civilization scale.

This innovation couldn’t come at a more

critical moment. Traditional systems are

crumbling.

Legacy institutions are more concerned

with maintaining power than keeping pace

with technological and societal

change.But a new generation of ambitious

builders isn’t waiting around. They’re

creating an operating system for

humanity’s most pressing needs, built on

public open source networks.

We are entering a golden age for

protocols, networks, and companies that

improve the utilization, efficiency, and

profitability of this digital

infrastructure and create efficient

markets and forward curves for the

commodities required to manufacture,

install, and operate it. 

The foundations of this transition are

being built.

We are committed to backing early stage

founders who will shape its trajectory.

How we see the world

How we see the world

Human progress has always been defined by our ability to

manipulate energy and atoms over spacetime.

We believe that the role of capital allocators is to find,

fund, and facilitate the most efficient use of these

thermodynamically constrained resources at civilization scale.

This innovation couldn’t come at a more critical moment.

Traditional systems are crumbling.

Legacy institutions are more concerned with maintaining power

than keeping pace with technological and societal change. But a

new generation of ambitious builders isn’t waiting around.

They’re creating an operating system for humanity’s most

pressing needs, built on public open source networks.

We are entering a golden age for protocols, networks, and

companies that improve the utilization, efficiency, and

profitability of this digital infrastructure and create

efficient markets and forward curves for the commodities

The foundations of this transition are being built.

We are committed to backing early stage founders who will

shape its trajectory.

What we invest in

New digital infrastructure, including

blockchain networks and cryptographic innovation

that enables the utilization of blockspace

for specialized application.

New models for capitalizing, constructing,

and governing physical infrastructure networks

and digital resource networks.

The creation of a new asset class -

digital commodities - that facilitate hedging, speculation,

and financialization of core digital infrastructure.

New models and marketplaces for vertical and horizontal

integration in resource intensive industries.

new digital infrastructure

including blockchain networks and cryptographic innovation that enables the utilization of block space for specialized applications

Believe in Something
Meltem Demirors
General Partner
  • 5 years growing CoinShares, Europe's largest digital asset manager, and taking it public
  • Early team at Digital Currency Group, 3 years building the largest investment firm in Bitcoin (there was just Bitcoin)
  • Obsessive investor, 250+ co’s w $20B+ in enterprise value
  • Started in commodities trading, earned her stripes in the oilfield, then fell in love with Bitcoin and sci-fi
  • Rice undergrad, MIT grad, teach at Oxford
Honour Masters
Investment Principal
  • 3 years at Energize Capital, board at Banyan Infrastructure, DroneDeploy, Jumptech, Patch
  • Investing chops at Union Square Ventures, Carta, CoVenture
  • Started in TradFi at BlueMountain Capital and 
Morgan Stanley
  • Likes horses, house music, and far flung places
  • University of Edinburgh undergrad, Columbia grad

what we invest in

PROTOCOLS + DEV TOoLING

Protocols governing open networks and decentralized application ecosystems, along with tools that help organizations of any size deploy and manage their infrastructure.

ORCHESTRATION + OPTIMIZATION

Software solutions that automate workflows, optimize operations, and enhance performance by streamlining complex resource management.

commodities + capital markets

Protocols and companies pioneering new commodities and capital markets, market microstructure to enhance efficiency and liquidity in both new and existing markets.

aggregators + marketplaces

Decentralized physical infrastructure networks that virtualize and aggregate resources, enabling new marketplaces that streamline the procure-to-pay lifecycle.

strategic partnerS

Crucible Capital prides itself on building long term, enduring relationships with its strategic partners which include:

Laser Digital is a full-service digital asset firm established by Nomura specializing in trading, asset management, solutions and early-stage investing.

Welara is a premier crypto-native multi-family office dedicated to comprehensive wealth, asset, and lifestyle management.