Early-Stage Strategy
From capital to growth. Investing before the next stage.
Before the next stage
Early Stage
Convexity on the thesis
Tokenization infrastructure, the intersection of AI and crypto, and selective pre-IPO secondaries. A small number of carefully sized positions with a long-term horizon.
We look for founders and businesses where adoption can become durable economics. The framework envisages 5–8 selectively sized positions across tokenization, AI × crypto and pre-IPO secondaries, subject to access and due diligence. High failure rates and long holding periods are part of the underwriting.
Team & productCommercial tractionAccess & structure
Principal risks
Business failure, dilution, illiquidity and the possible loss of the entire investment.
The bigger picture
Read the 2027 thesis ↗See how the strategies connect.
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