# DBA

> DBA is a New York research-driven crypto investment firm founded in 2023 by Michael Jordan and Jon Charbonneau. It runs concentrated, partner-led, 10-year closed-end funds that invest across private companies, protocols, and public crypto markets, pairing long-term capital with detailed technical and economic research. Its portfolio and published theses center on internet-native financial infrastructure, including Bitcoin scaling, base layers, stablecoins, decentralized exchanges, capital formation, and prediction markets.

- **Founded:** 2023
- **Headquarters:** New York, United States
- **Founders:** Michael Jordan (Co-Founder & General Partner), Jon Charbonneau (Co-Founder & General Partner)
- **Team size:** 2-10 employees on LinkedIn; provided company data lists 14 employees
- **Products:** DBA Fund I, DBA Fund II, Research and portfolio support
- **Notable:** Raised $50 million for Fund I in 2023., Raised $62 million for Fund II in February 2026., Built a publicly visible portfolio spanning Bitcoin scaling, base-layer infrastructure, stablecoins, capital formation, and prediction markets.

## Products & services

- **DBA Fund I** — $50 million, 10-year closed-end crypto venture fund investing across private and public markets.
- **DBA Fund II** — $62 million, 10-year closed-end fund focused on lead roles in early-stage crypto investments while retaining flexibility across stages and public markets.
- **Research and portfolio support** — Long-form technical and economic research, direct partner-led investment work, and active collaboration with protocols and companies.

## Achievements

- Raised $50 million for Fund I in 2023.
- Raised $62 million for Fund II in February 2026.
- Built a publicly visible portfolio spanning Bitcoin scaling, base-layer infrastructure, stablecoins, capital formation, and prediction markets.
- Published detailed research on rollup architecture, Ethereum economics, Bitcoin L2s, stablecoin privacy, market flows, and Hyperliquid token economics.
- Michael Jordan participated in the U.S. SEC Crypto Task Force roundtable on decentralized finance in June 2025.

## Latest updates

- **2026-03** — Public funding databases listed DBA among the investors in Payy's $6 million seed round.
- **2026-02** — DBA announced a $62 million Fund II, following its $50 million first fund.
- **2025-09** — DBA published a proposal to reduce the stated HYPE token supply by 45% without changing existing holders' relative ownership.
- **2025-09** — Jon Charbonneau published DBA's thesis on private and usable stablecoin infrastructure, centered on Payy.
- **2025-01** — DBA published its Bitcoin L2 thesis and disclosed its backing of Alpen Labs.

## Links

- Website: https://dba.xyz
- LinkedIn: https://www.linkedin.com/company/dba-crypto
- Twitter/X: https://x.com/dba_crypto

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Profile page: https://yespress.io/dba
Published by YesPress — https://yespress.io
Last updated: 2026-08-15