What we look at
How the market or business actually works, who the participants are, and where value is created and captured.
For digital assets, that includes how a protocol behaves on chain, not only what it says it does.
Research
Understand the market, company, asset, protocol, or opportunity.
The first step in every decision is to understand what we are looking at, in detail, before deciding what we think of it.
What comes out of it
A clear description of the opportunity and the questions that must be answered before capital is considered.
Let's talk.
We welcome conversations with founders, investors, operators, and counterparties working on interesting opportunities.