First Stage Labs

fslabs.io

VCMatch tracks First Stage Labs as an investor focused on Blockchain Crypto, Developer Tools, and Data Infrastructure companies, Pre-Seed and Seed rounds, and Global and Telegram Ecosystem markets. Upload your deck to compare your startup against the full private matching profile.

Check Size

Not specified

Stages

Pre-Seed, Seed, Series A

Focus Areas

Blockchain Crypto, Developer Tools, Data Infrastructure

Geography

Global and Telegram ecosystem

Investment Thesis

TOP (The Open Platform) operates as a vertically integrated venture builder and investor focused on building the Telegram crypto ecosystem. They combine early-stage funding with infrastructure development, distribution capabilities, and operational expertise to help Web3 teams build real products on Telegram and the TON Blockchain. Their philosophy centers on creating an interconnected ecosystem where infrastructure, consumer applications, and user distribution work together to drive global crypto adoption.

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Investment Focus

Who should take a closer look

First Stage Labs is most relevant for founders raising Pre-Seed, Seed, and Series A rounds in Blockchain Crypto, Developer Tools, Data Infrastructure, and Gaming, especially across Global and Telegram ecosystem.

Focus statement

TOP invests in and builds Web3 teams creating infrastructure and consumer applications on Telegram and TON Blockchain. They focus specifically on projects that can leverage Telegram's 1 billion+ user base to drive mainstream crypto adoption.

Value Add

Provides three integrated services: Expertise (helping teams build), Distribution (connecting to Telegram-native users), and Investment (early-stage funding)
Operates as both investor and builder—owns and operates portfolio companies like Wallet in Telegram (100M+ users), STON.fi, Tonkeeper, and other infrastructure tools
Direct access to Telegram's 1 billion+ user base through native integrations and distribution partnerships
Comprehensive developer toolkit including SDKs, APIs, wallets, and smart contract deployment tools (TON API, TON Connect, TAC, STON.fi, PlayDeck, Getgems)
Venture studio model with 25+ portfolio projects generating 235M+ total users
Built first unicorn in the TON-based ecosystem (billion-dollar valuation as of July 2025)