Crypto venture capital for early-stage companies sits at an intersection. It borrows a lot from traditional VC, but has structural features that are unique to crypto.
Projects may issue tokens instead of, or in addition to, shares. They may operate through alternative structures like DAOs rather than traditional companies. Investments are often made through SAFTs, token warrants, and side letters.
The rules are not the same as in traditional venture capital.
Traditional VC is relatively standardized. There are books, reports, and research about how deals are made. The dynamics don't change very often.
Crypto VC evolves quickly, and most of the knowledge about how these investments actually work is not written down anywhere.
This blog exists to change that. I want founders and investors to actually understand the structures, incentives, and what's importnat in a deal to build long term and successful projects.
I'll write short, practical posts about the things founders wish they had known earlier. What matters, what's usually hidden, and what experienced investors already know but first-time founders often don't.
Nearly a decade of hands-on experience in venture transactions. Not legal advice. Most issues in these deals aren't legal anyway, they're about the two things that matter most when you're negotiating: economics and control.
Let's start.