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Have met a couple new emerging managers raising crypto funds right now. 

Hardest market to start a new crypto fund & they’re making it happen. 

Love the conviction… bullish on all you 🐂

Managing Partner at Chapter One - www.chapterone.com - proud investor in Farcaster - Join /chapterone

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interesting that you say this is the hardest market to start a new crypto fund - is it more so “start” (as an emerging manager) rather than trying to raise as a crypto vc more generally?

i felt like more allocators were increasing their exposure to crypto vc this cycle given its legitimacy as an asset class and outperformance vs broader vc benchmarks. would be curious to hear your thoughts.

chad.degen.eth // Current: BizOps @ Alluvial,
Prev: Cambridge Associates, 6th Man Ventures, Blockworks, Amherst Math & Econ /observations

👍

do you anticipate it will be a large source of dpi?

to date, most vintages across the asset class still havent returned any capital

Most institutional allocators are still pretty hesitant to invest in crypto funds, let alone take chances on new crypto funds.

I expect this to change as crypto will be a key source of DPI for many limited partners in 2025. We still need use cases they can understand and communicate to their investment committees.