1) Why this syndicate? -> unique, significant alpha opportunity

This is a $15M+ syndicate to invest in the flagship fund of a top-tier venture fund based in the US with a primary focus on equity deals in the blockchain ecosystem (e.g. Coinbase, Bakkt), early-stage tokens with liquidity horizons of 1-3 yrs, and currently trading liquid tokens focused on DeFI.

The key reason behind the syndicate formation is an opportunity to make co-investments in early-stage tokens or equity deals when LPs make commitments larger than $15M. Given the growth of the blockchain and crypto ecosystem, such deal flow and an exclusive set of info would enable even individuals unique, significant alpha with liquidity.

The overall AUM of the California-based fund is $4.7B, and the target raise of the flagship fund is $600M, of which ~70% has been committed already. The fund is organized as a Delaware Limited Partnership. I will be personally committing at least $1,000,000 to the fund. I will be using the remainder of the capital minus the $15M commitment to make respective co-investments in early-stage tokens or equity deals.

2) About Me

I'm SeungPyo Son, a Product Owner at Coupang Eats, an on-demand food delivery business within Coupang. Coupang is among the highest growth e-commerce company with a market presence in Korea, Taiwan, and Japan. Coupang raised funding from many top-tier venture firms, including Softbank, and was recently listed in NYSE with a market cap of $50B as of Oct 9, 2021. I was educated at Stanford University, with a BS and MS in engineering.

3) Previous Investment Experience

I have personally been investing on sides in private technology companies and funds as LP with primary emphasis on solving problems in the following verticals:

1. e-commerce
2. payments
3. transportation
4. blockchain and crypto
5. deep learning
6. consumer business.

As I interact with other founders during my daily job and investments, I am often invited to interesting deals that have worked well so far. I both trade liquid crypto tokens and hold equities and tokens for the long term. Some of my key investments and holdings include:

1. LP stake in a top-tier crypto fund (TVPI: ~20.0x as of the last quarterly investment report)
2. Terra (LUNA) (a Blockchain protocol offering the first decentralized programmable stablecoins)
3. Riiid (Softbank-backed edutech)
4. Dunamu (Kakao, Altos-backed; Upbit - a crypto exchange with ~$10B daily trading volume)
5. Musinsa (Sequoia-backed fashion e-commerce)
6. Rokit Healthcare (DRADS-backed organ generation biotech)
7. Viva Republica (Altos, Ribbit, Goodwater-backed; fintech)
8. Coupang (NYSE: CPNG)

The deal flows will be mainly sourced from the co-investment opportunities available via large commitment to the flagship fund.

I will carefully review, research, and invest in every deal.