Ex-Chorus One CIO Xavier Meegan Unvails $20Million Crypto Fund Frachtis

The fund is backed by institutional investors like Theta Capital, as well as crypto-native supporters including RockawayX, Chorus One, and Cyber Fund.

Frachtis is focused on backing highly technical, crypto-native founders working on decentralised AI, middleware, infrastructure, and consumer applications. According to Xavier Meegan, what sets Frachtis apart in the crypto VC landscape is its technical focus and a team with deep experience in operating and scaling blockchain networks.

Frachtis was created to support technical founders who are deeply committed to building exceptional and innovative crypto products. Our edge is in seeing what’s coming next, because we deeply understand blockchain infrastructure and have helped scale real products before.

While at Chorus One, Xavier Meegan led more than 40 investments and headed the research team focused on blockchain infrastructure. At the time, VCs were the company’s main clients.

Now leading Frachtis as a solo general partner, Meegan is supported by an advisory and investment committee that helps assess deals and guide portfolio companies.

Committee members include Brian Crain (Founder and CEO of Chorus One), Felix Lutsch (Head of Ecosystem at Symbiotic and former CCO at Chorus One), Erwin Dassen (Head of Generative AI at Chorus One), and Mel Tsiaprazis (former COO of Bitstamp and TradeBlock).

Meegan shared: We are in the consumer apps era. The next big winners in crypto will be applications that leverage the infrastructure we already have. Crypto-native products that solve real problems for users will become some of the most capital-efficient businesses in the world.

Frachtis’ first fund has already invested in eight early-stage projects, including pre-seed and seed rounds. Notable investments include DeFi middleware startup Turtle Club and AI infrastructure protocols like Hyve and Bless.