Commercialising
Open Source.

Pylon Partners invests in and commercialises open-source technology. We back the developers and projects building foundational software, then partner with them to turn open code into durable, venture-scale companies.

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TAO — — IMX — — CHZ — — SN44 — — SN68 — — SN98 — — POWER — — S — — YANEZ Private —

Select Companies
and Investments.

We invest in open-source technology, then work alongside founders to commercialise it. We come in early, ahead of institutional capital, and stay hands-on through go-to-market, token design, and the operating decisions that turn open code into a company.

The portfolio spans gaming infrastructure, digital assets, decentralised AI, privacy networks, and consumer. Most positions were established early, before the sector had institutional buyers.

The record below is public, listed by company and year of entry.

“Pylon has been an important strategic partner since our launch. They sharpen our focus and get in the trenches with us to execute. Simply put, they’re the best at what they do.”

Wei XieCOO, ArenaX Labs
CompanyYearOverviewCo-investors
Animoca BrandsInvestment 2021 Web3 gaming’s largest holding company, entered pre-Series B ahead of institutional capital.
Sequoia
B3Advisory 2025 Onchain consumer economy from the ex-Coinbase Base team, building settlement infrastructure for agentic commerce.
Coinbase Ventures
BetMakersInvestment 2021 ASX-listed B2B wagering infrastructure for global sportsbooks, scaling into worldwide betting legalisation.
Tekkorp
CastileAdvisory 2024 Web3 gaming distribution led by ByteDance’s former Head of Gaming Publishing.
OKX Ventures
ChilizAdvisory 2025 Fan engagement platform monetising top clubs including FC Barcelona, PSG, and Manchester City.
Binance
FableborneAdvisory 2023 Mobile RPG studio led by ex-Konami and Jagex executives.
Delphi Digital
LykaInvestment 2022 Australia’s leading D2C fresh pet food brand, taking share from legacy CPG through owned distribution.
LGVPLGVP
ManakoInvestment 2026 Computer vision R&D lab commercialising mass-market consumer applications.
Unsupervised
Mythical GamesAdvisory 2025 AAA on-chain mobile publisher behind NFL Rivals and MLB Champions, founded by ex-Activision executives.
a16z
OasysAdvisory 2022 Asia’s gaming blockchain, backed by SEGA, Bandai Namco, and Ubisoft.
SBI Holdings
RedactedInvestment 2026 Mobile studio porting a major land-based casino operator’s real-money IP to mobile, under an undisclosed counterparty.
—Undisclosed
SAIInvestment 2024 Reinforcement learning platform for Sim2Real applications across gaming and robotics.
Paradigm
SonicAdvisory 2024 Highest-throughput L1 in production, led by Andre Cronje and the team behind Fantom.
Galaxy Digital
SuperGamingAdvisory 2025 India’s leading mobile game studio, behind Indus Battle Royale, building for the next billion mobile gamers.
a16z
TreasureInvestment 2022 On-chain gaming IP and collectibles network, entered pre-institutional and pre-price discovery.
1kx
URnetworkInvestment 2026 Open-source decentralised network for censorship-resistant internet access, built on crowdsourced residential bandwidth.
—Undisclosed
Select positions as of April 2026. Deploying proprietary capital since 2022.

We publish
before we invest.

Every partnership starts with a view. We publish our thesis on a technology before we take a position in it, so the record shows what we concluded and when.

We identified Bittensor before $TAO crossed a $100M market capitalisation, and covered $VIRTUALS and the agentic economy before either had institutional coverage. The archive dates to 2022 and is fully public.

The projects we back are often the ones we wrote about first. Every view is dated and public.

Bittensor: The Intelligence Olympics

The structural case for Bittensor as the settlement layer for machine intelligence. Enterprise contracts, fiat revenue, and incoming institutional capital form the flywheel.

Khala  ·  Feb 2026

x402: The Payments Protocol for AI Agents

The HTTP extension, backed by Coinbase and Cloudflare, defining how AI agents pay at scale. A quiet primitive with outsized implications for autonomous systems.

0xSammy  ·  Feb 2026

The Decentralized Robotics Landscape

Where physical automation meets programmable coordination, and what it means for capital allocation. Hardware-adjacent networks are the next frontier for decentralised infrastructure.

Khala  ·  Jan 2026

Subnet Risk Index: Methodology & Backtest

A scoring framework for Bittensor subnet deregistration risk. Signal architecture, weighting, and backtests across 60+ live subnets show predictive power.

TAO Institute  ·  2025

CHZ 2030: US Entry and the Dawn of Sports RWAs

Chiliz’s US re-entry playbook: NASDAQ DAT, NBA/NFL fan token pipeline, and a $50–100M Digital Asset Treasury modelled on AVAX ONE. The structural thesis positions $CHZ as the definitive sports RWA settlement layer.

Pylon Partners  ·  2026

Immutable in VanEck’s 15 Crypto Predictions

VanEck identifies Immutable as the dominant gaming blockchain by end of 2024, citing developer traction and ecosystem depth. Institutional-grade infrastructure positions IMX for sustained market leadership.

VanEck  ·  2024
Selected from a record going back to 2022 Full archive at khala.io →

Built in
the market.

We were operators before we were investors. Token foundation strategy at Immutable, fan token programmes across more than eighty clubs at Chiliz, the CMO seat at an a16z-backed studio, and consumer private equity across Hong Kong and Southeast Asia. That operating record is what we bring to a project once we back it.

Commercialising open-source technology is operating work, done in the trenches alongside founders. Our dealflow comes through operator networks built over a decade; Fableborne, Castile, and Bittensor each reached us that way, early.

We stay with the companies we back for the decade it takes them to compound.

Jack Ai-Leung
Jack Ai-Leung
Managing Partner

Jack began his career in private equity across APAC, then led strategy for the Immutable ($IMX) Token Foundation through the launch of the leading gaming token by market capitalisation. He has worked as both an allocator and an operator, and that dual perspective shapes how Pylon underwrites today.

LinkedIn
0xDith
0xDith
Venture Partner

0xDith led Stripe’s GTM across the Middle East and North Africa, then was CMO of Proof of Play, an a16z-backed gaming company. Today he runs one of the most popular game studios in the world.

@0xDith
0xSammy
0xSammy
Venture Partner

0xSammy is among the most-followed researchers in crypto and AI, having identified $VIRTUALS and $TAO before mass adoption. He reaches an audience of more than 100,000 daily, on a fully public and timestamped record.

@0xSammy