Electric Capital

Electric Capital is a venture capital firm founded in 2018 and based in the United States, focused on early-stage investments in frontier technologies including cryptography, distributed systems, and artificial intelligence. The firm invests at the preseed through Series A stages, with check sizes ranging from $1 million to over $15 million, and has deployed more than $3 billion in total capital. Its partners are practising engineers, which informs its evaluation of technical projects in crypto infrastructure, decentralised finance, developer tooling, and fintech.

Alongside its investment activity, Electric Capital publishes the annual Electric Capital Developer Report, a widely referenced open-source analysis of developer activity across crypto ecosystems. The report is compiled from hundreds of millions of code commits across millions of public repositories, tracking metrics such as monthly active developers, new developer growth, and ecosystem-level contributions by chain. The 2024 edition analysed 902 million commits across 1.7 million repositories.

The firm also operates a public live dashboard at developerreport.com, providing continuously updated metrics on developer counts by ecosystem, developer type, tenure, and geography. The underlying dataset is made publicly accessible through an open-source GitHub repository.