Using the network I've built over the last 8 years in silicon valley, I get access to proprietary deal flow I am now able to share with this syndicate.
My approach is simple. I back founders with domain expertise solving hard problems in massive markets. Industries that have not yet been touched by technology. I look for asymmetric opportunities where the payoff, if successful, dwarfs the risk of loss.
I invest in teams I believe in first, ideas second. A good team can find their way to a good idea. A bad team often cannot.
MY BACKGROUND
In 2014, I Co-founded Hedgy, a blockchain derivatives platform backed by Tim Draper and Marc Benioff. Hedgy raised $1.2m in funding and was acquired by Wyre, Inc in 2018.
Currently, Managing Partner at Stateless Ventures – a crypto asset investment fund (www.stateless.vc)
I first invested in bitcoin in 2013. I later invested in the Ethereum crowd sale in 2014 among many of the other early, successful protocols.
Through 2014-2017, I increased my exposure as Ethereum ushered in a new era of the internet – the internet of value. I invested in many of the top performing crypto assets including Cosmos, 0x seed round, Theta, MakerDAO, Synthetix (Seed), Keep Network, Thorchain, Aave, and Ren generating a combined return of over 5000%.
FOCUS AREAS
Some Areas I’m currently Interested In (subject to change):
- Crypto Assets, programmable money & smart contracts
- Fintech & unbundling of financial services
- AI/Machine learning
- No Code software tools
- Robotics
- Tangent businesses to the proliferation of electric vehicles
- Online education focused on technical skills
- Disrupting Real Estate brokerage, management and research
- Automating professional services
- Genetic Engineering/ DNA programming
- Life extension technologies
INVESTMENT CHECKLIST
I have 10 point checklist I used to help me evaluate deals. None of these are requirements and this is not exhaustive but it helps me hone my intuition on the potential of a business to become a winner years down the road.
- Can this company be worth $10 Billion or more in the future?
- Is this a new, small market growing fast or a big market giving up existing market share? What will the size of the market be in 10 years, rather than now?
- Does this company become more powerful as it gets bigger? Ie. Real Network effects, trends towards Metcalfe’s law
- Is this a good idea that looks like a bad idea or a bad idea that looks like a good idea? (Want former).
- Is at least one founder technical? Does this founder understand the problem or tooling better than anyone else?
- Does this founder have a deep sense of mission? Will they stick with it for 10 years?
- Is this company following a real trend or a fake trend?
- Did this product/trend start with hobbyists on nights and weekends?
- Does founder have high integrity and will be transparent with investors/employees/customers
- What is founder cadence and speed of product iteration? (faster better).
EXPECTATIONS
You can expect early stage to Series A companies that are hard to access where I can provide value to the founder. I may syndicate later state follow on allocations when available.
I will share updates from founders if provided (but don’t expect them). Communication may be very infrequent.
I will try to share all deals outside of crypto where the founder allows and deal dynamics make sense.
Disclaimer: I manage a cryptocurrency fund, Synapse Capital. Synapse gets first rights to crypto related allocations.
