Reflexive Capital

Reflexive Capital is a thesis-driven investment firm specializing in web3, dedicated to supporting founders who drive adoption and address significant challenges. The firm operates with distinct Liquid Trading and Venture Investing teams, offering investors access and market insight across digital assets. Operational excellence is central to their strategy, emphasizing critical policies and procedures for allocating in the digital asset space.

The Liquid team employs a framework of regime identification, fundamental diligence, active management, and proprietary risk modeling to generate sustainable, repeatable returns in a risk-managed manner. The Venture team focuses on identifying and supporting founders solving specific, trust-based consumer and enterprise pain points with blockchain technology, acting as trusted partners to drive adoption within digital assets and solve meaningful, real-world problems.

Reflexive Capital has made 8 investments, with notable portfolio companies including XP, PeachWeb, Trust-Place, Rilla, Claim, Modhaus, and Threedium. Their most recent investment was on May 15, 2025, when XP raised a seed round. The firm has raised two funds, with the latest being Reflexive Capital PE, and has made two diversity investments, the most recent being on November 1, 2016, when GlamST raised funding.