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Linda Xie
@linda
Get asked a lot on advice for starting a crypto fund. Our approach with Scalar that ended up working well - ideal to be a small fund so easier to return multiples. Only a few funds can get away with large AUM & we couldn't compete with them. Small funds enable you to work with everyone - didn’t spend time around building the fund's brand (only did media circuit when we were fundraising). Focused on building a good relationship with founders & got access to deals through word of mouth - prioritized responding quickly to portfolio companies when they needed help. Couldn't always help but most important was to not do harm to them. Always caveated advice given & didn't need to have an opinion on everything - treated founder's time as valuable in a pitch meeting. Came prepared to every fundraising meeting as mentality was we were lucky to be meeting with them - stayed lean as a team, majority of it we operated as 3 people (2 research, 1 ops/finance) Every person/fund is different, just sharing our experience
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Diego
@d1ego
What's your take on early crypto investors doing venture and also having active liquid strategies? IMO, different skillset & time horizon but some managers like the flexibility to act on arbitrage/valuation opportunities between equities/tokens in each cycle. Thoughts?
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Ben - [C/x]
@benersing
Thanks for sharing Linda! 1. Would you do it again? 2. What do you know now that you would have benefited from knowing when you started Scalar?
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