> ## Documentation Index
> Fetch the complete documentation index at: https://docs.sleuthintel.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Sleuth - VC Outreach - Target Fund List

> Original Sleuth document.

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solid var(--border);padding:18px 22px;margin:14px 0;}\n  .qa-q{font-family:'Orbitron',sans-serif;font-size:11px;color:var(--green);letter-spacing:2px;margin-bottom:9px;}\n  .qa-a{font-size:13px;color:var(--gold);line-height:1.8;}\n  .footer{text-align:center;padding-top:50px;border-top:1px solid var(--border);font-size:10px;color:var(--green-dim);letter-spacing:3px;text-transform:uppercase;}\n  @media(max-width:760px){\n    .statrow{grid-template-columns:repeat(2,1fr);}\n    .terms-row{grid-template-columns:1fr;gap:4px;}\n    .prio{margin-left:0;}\n    .logo{font-size:36px;letter-spacing:8px;}\n  }\n  @media print{body::before,body::after{display:none;}body{background:#fff;}}\n</style>\n</head>\n<body>\n<div class=\"container\">\n\n<div class=\"header\">\n  <div class=\"header-glow\"></div>\n  <div class=\"doc-type\">VC Token Funding</div>\n  <div class=\"logo\">SLEUTH</div>\n  <div class=\"doc-subtitle\">Target Fund List \u00b7 Outreach Playbook</div>\n  <div class=\"meta-row\">\n    <span class=\"meta-badge\">Private &amp; Confidential</span>\n    <span class=\"meta-badge\">June 2026</span>\n    <span class=\"meta-badge\">Aligned to Whitepaper v17</span>\n  </div>\n</div>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 RAISE OVERVIEW \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"raise\">\n  <div class=\"eyebrow\">// 01</div>\n  <h2>Raise Overview</h2>\n  <div class=\"statrow\">\n    <div class=\"stat\"><div class=\"n\">$3.125M</div><div class=\"l\">Total \u00b7 Two VC Rounds</div></div>\n    <div class=\"stat\"><div class=\"n\">25%</div><div class=\"l\">Of Supply to Investors</div></div>\n    <div class=\"stat\"><div class=\"n\">$10M / $15M</div><div class=\"l\">Seed / Strategic FDV</div></div>\n    <div class=\"stat\"><div class=\"n\">NONE</div><div class=\"l\">Public Sale</div></div>\n  </div>\n  <div class=\"terms\">\n    <div class=\"terms-row\"><span class=\"terms-label\">Round 1 \u00b7 Seed (VC)</span><span class=\"terms-val\">$1.25M \u00b7 12.5% of supply \u00b7 $0.10 per SLEUTH \u00b7 $10M FDV</span></div>\n    <div class=\"terms-row\"><span class=\"terms-label\">Round 2 \u00b7 Strategic (VC)</span><span class=\"terms-val\">$1.875M \u00b7 12.5% of supply \u00b7 $0.15 per SLEUTH \u00b7 $15M FDV</span></div>\n    <div class=\"terms-row\"><span class=\"terms-label\">Unlock &amp; Vest</span><span class=\"terms-val\">10% at TGE \u00b7 12mo cliff \u00b7 36mo linear, fully out month 48. Identical terms both rounds, price is the only difference.</span></div>\n    <div class=\"terms-row\"><span class=\"terms-label\">Float at Launch</span><span class=\"terms-val\">22.5% circulating at TGE on an unlocked-supply basis \u00b7 2.5% true day-one holder float, the investor TGE tranche only</span></div>\n    <div class=\"terms-row\"><span class=\"terms-label\">Public Sale</span><span class=\"terms-val\">None. The market finds price on the open DEX at launch, no discounted retail tranche.</span></div>\n  </div>\n</section>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 MARKET CONTEXT \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"context\">\n  <div class=\"eyebrow\">// 02</div>\n  <h2>Market Context</h2>\n  <p>The funding environment in 2026 is tighter at early stage but directionally well aligned for Sleuth. Active crypto VCs have publicly named prediction markets and the agent economy as their thesis areas. Dragonfly, Haun Ventures, a16z and Coinbase Ventures all made explicit statements to this effect in January 2026.</p>\n  <p>Most importantly, Elastics raised a $2M pre-seed led by FRST Venture Capital in May 2026 specifically to build AI agents for prediction markets. This is the closest comparable to Sleuth that exists, and it validates the thesis with fresh capital.</p>\n  <div class=\"highlight\"><p>The era of whitepaper-only raises is over. Investors want traction signals, a live product, and a real token model. Sleuth has all three. The bar is higher, but Sleuth clears it.</p></div>\n</section>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 NOTES ON APPROACH \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"approach\">\n  <div class=\"eyebrow\">// 03</div>\n  <h2>Notes on Approach</h2>\n  <ul>\n    <li>All 10 funds on this list are crypto-native and comfortable with token raises. None require equity.</li>\n    <li>Anon team is standard in crypto. Do a call, share background under NDA, paper stays clean. These funds have backed pseudonymous founders before.</li>\n    <li>Lead with the Elastics comp, FRST-backed, same vertical. It frames the raise immediately.</li>\n    <li>Tier 1 priority (FRST, Dragonfly, Haun) should be approached with warm intros where possible. Cold outreach works in crypto, but a referral compresses the timeline significantly.</li>\n    <li>DWF Labs is listed as TGE Stage. They are a market maker and strategic partner, not a private round investor. Approach them closer to token launch for liquidity support.</li>\n  </ul>\n</section>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 TARGET FUNDS \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"funds\">\n  <div class=\"eyebrow\">// 04</div>\n  <h2>Target Funds</h2>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">01</span><span class=\"fund-name\">FRST VENTURE CAPITAL</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605\u2605</span><span class=\"prio immediate\">IMMEDIATE</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>AI agents + prediction markets</span><span><b>Check</b>$500K\u2013$2M</span><span><b>Stage</b>Pre-seed</span><span><b>Contact</b>frst.vc</span></div>\n    <div class=\"fund-note\">Just led Elastics, AI agents for PM, your closest comp. They know this exact space.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">02</span><span class=\"fund-name\">DRAGONFLY CAPITAL</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605\u2605</span><span class=\"prio immediate\">IMMEDIATE</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Prediction markets, agent payments, DeFi</span><span><b>Check</b>$500K\u2013$5M</span><span><b>Stage</b>Pre-seed to Series A</span><span><b>Contact</b>dragonfly.xyz</span></div>\n    <div class=\"fund-note\">Explicitly bullish on prediction markets and the agent economy. $650M fund active now. Named these as 2026 thesis.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">03</span><span class=\"fund-name\">HAUN VENTURES</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605\u2605</span><span class=\"prio immediate\">IMMEDIATE</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Prediction markets, agent economy, financial infra</span><span><b>Check</b>$500K\u2013$3M</span><span><b>Stage</b>Pre-seed to Series A</span><span><b>Contact</b>haun.vc</span></div>\n    <div class=\"fund-note\">$1B fresh fund. Named prediction markets and the agent economy as explicit 2026 focus. Strong fit.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">04</span><span class=\"fund-name\">COINBASE VENTURES</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605</span><span class=\"prio high\">HIGH</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Prediction markets, DeFi, AI on crypto rails</span><span><b>Check</b>$250K\u2013$1M</span><span><b>Stage</b>Pre-seed to seed</span><span><b>Contact</b>coinbase.com/ventures</span></div>\n    <div class=\"fund-note\">Called out 'markets for everything' plus AI leaning on crypto rails for data and identity. Strong thesis alignment.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">05</span><span class=\"fund-name\">FRAMEWORK VENTURES</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605</span><span class=\"prio high\">HIGH</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>DeFi, token economics, crypto-native</span><span><b>Check</b>$250K\u2013$2M</span><span><b>Stage</b>Seed</span><span><b>Contact</b>framework.ventures</span></div>\n    <div class=\"fund-note\">Deep on token models and two-token mechanics. Active at seed. Good for the aSLEUTH / SLEUTH story.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">06</span><span class=\"fund-name\">ROBOT VENTURES</span><span class=\"fund-stars\">\u2605\u2605\u2605\u2605</span><span class=\"prio high\">HIGH</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Crypto-native early stage</span><span><b>Check</b>$100K\u2013$500K</span><span><b>Stage</b>Pre-seed</span><span><b>Contact</b>robot.ventures</span></div>\n    <div class=\"fund-note\">Small checks, crypto-native conviction investors. Good for filling the seed round with believers.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">07</span><span class=\"fund-name\">ANIMOCA BRANDS / MINDS</span><span class=\"fund-stars\">\u2605\u2605\u2605</span><span class=\"prio medium\">MEDIUM</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>AI agents, token projects, Web3</span><span><b>Check</b>Up to $10M</span><span><b>Stage</b>Early stage</span><span><b>Contact</b>animocabrands.com</span></div>\n    <div class=\"fund-note\">Just launched $10M investment programme for AI agent projects. Active programme, worth a direct application.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">08</span><span class=\"fund-name\">VARIANT</span><span class=\"fund-stars\">\u2605\u2605\u2605</span><span class=\"prio medium\">MEDIUM</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Consumer crypto, token economics, ownership</span><span><b>Check</b>$500K\u2013$2M</span><span><b>Stage</b>Pre-seed to seed</span><span><b>Contact</b>variant.fund</span></div>\n    <div class=\"fund-note\">'Users as owners' thesis maps well to the SLEUTH / aSLEUTH model. Less PM-focused but strong on token mechanics.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">09</span><span class=\"fund-name\">MAVEN 11</span><span class=\"fund-stars\">\u2605\u2605\u2605</span><span class=\"prio medium\">MEDIUM</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Prediction markets, DeFi, crypto infrastructure</span><span><b>Check</b>$250K\u2013$1M</span><span><b>Stage</b>Seed</span><span><b>Contact</b>maven11.com</span></div>\n    <div class=\"fund-note\">Bullish on the PM intelligence layer specifically. May be more cautious post-hype, approach with traction.</div>\n  </div>\n\n  <div class=\"fund\">\n    <div class=\"fund-top\"><span class=\"fund-rank\">10</span><span class=\"fund-name\">DWF LABS</span><span class=\"fund-stars\">\u2605\u2605\u2605</span><span class=\"prio tge\">TGE STAGE</span></div>\n    <div class=\"fund-meta\"><span><b>Focus</b>Token projects, TGE support, liquidity</span><span><b>Check</b>Strategic</span><span><b>Stage</b>Token-first</span><span><b>Contact</b>dwf-labs.com</span></div>\n    <div class=\"fund-note\">More market maker / strategic than pure VC. More useful at TGE for liquidity support than the private round.</div>\n  </div>\n</section>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 OUTREACH TRACKER \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"tracker\">\n  <div class=\"eyebrow\">// 05</div>\n  <h2>Outreach Tracker</h2>\n  <p>Track status as outreach progresses.</p>\n  <div class=\"tablewrap\"><table>\n    <tr><th>Fund</th><th>Contact Name</th><th>Intro Source</th><th>Date Contacted</th><th>Response</th><th>Next Step</th><th>Status</th></tr>\n    <tr><td><strong>FRST Venture Capital</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Dragonfly Capital</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Haun Ventures</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Coinbase Ventures</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Framework Ventures</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Robot Ventures</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Animoca Brands / Minds</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Variant</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n    <tr><td><strong>Maven 11</strong></td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td class=\"dim\">\u2014</td><td>Not contacted</td></tr>\n  </table></div>\n</section>\n\n<!-- \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 PITCH NOTES \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 -->\n<section class=\"section\" id=\"pitch\">\n  <div class=\"eyebrow\">// 06</div>\n  <h2>Pitch Notes</h2>\n\n  <h3>Key Points to Lead With on Any First Call</h3>\n  <ul>\n    <li><strong>Live product.</strong> Feed, Pulse, PM Traders, PM Markets, Discover, Wallet all live. Active beta.</li>\n    <li><strong>Elastics (FRST, 2026)</strong> is the closest comparable, AI agents for prediction markets. Sleuth is the intelligence layer underneath that.</li>\n    <li><strong>Two-token model.</strong> SLEUTH is tradeable, aSLEUTH is earned through contribution. Buybacks funded by real revenue. No inflation.</li>\n    <li><strong>Agents are first-class economic citizens.</strong> Same rules, same rewards, same slashing. The protocol is blind to source.</li>\n    <li><strong>Hold SLEUTH or earn aSLEUTH to unlock tier access.</strong> No subscription needed at threshold. A structural demand sink.</li>\n    <li><strong>The Epoch Engine.</strong> Wages from contribution one, graded work only, two hard ceilings, payroll prepaid 40+ months. 25% of all revenue buys SLEUTH monthly and compounds untouched in an on-chain Reserve.</li>\n    <li><strong>Team.</strong> 3 people, crypto-native, 25+ years combined. Anon on paper, available to speak. Background shared under NDA.</li>\n    <li><strong>Pursuing Polymarket ecosystem grants.</strong> Embedded in the prediction market ecosystem, not observing it.</li>\n  </ul>\n\n  <h3>What They Will Ask</h3>\n  <div class=\"qa\">\n    <div class=\"qa-q\">'WHY A TOKEN, NOT SAAS?'</div>\n    <div class=\"qa-a\">The token is the only mechanism that scales beyond the team ceiling. World A vs World B, a 4.6x difference.</div>\n  </div>\n  <div class=\"qa\">\n    <div class=\"qa-q\">'WHY $3.125M?'</div>\n    <div class=\"qa-a\">The platform is already live, so this is not a survival raise. The round funds the full feature set through the incentivised beta plus the token launch infrastructure, on a tight cap table. Two private rounds with identical terms, price the only difference: Seed at $10M FDV, Strategic at $15M, a 1.5x step that rewards early conviction. There is no public sale to absorb. The market finds price on the open DEX at launch. The entire 20% liquidity allocation seeds one V4 pool with ~$1M ETH, and true day-one holder float is just 2.5% of supply, so the book outweighs the entire unlocked float.</div>\n  </div>\n  <div class=\"qa\">\n    <div class=\"qa-q\">'HOW DO YOU ENFORCE QUALITY?'</div>\n    <div class=\"qa-a\">aSLEUTH burns permanently on bad data. The protocol decides, not the team. Slashing is automatic.</div>\n  </div>\n  <div class=\"qa\">\n    <div class=\"qa-q\">'WHO ARE THE TEAM?'</div>\n    <div class=\"qa-a\">Offer an NDA call. Three crypto-native operators. Background verifiable through on-chain and build history.</div>\n  </div>\n</section>\n\n<div class=\"footer\">SLEUTH \u00b7 Private &amp; Confidential \u00b7 June 2026 \u00b7 Aligned to Whitepaper v17</div>\n\n</div>\n</body>\n</html>\n" } style={{ width: "100%", minHeight: "100vh", border: "none", display: "block", background: "#060606" }} />
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