Crypto winter is upon us, and our industry’s skeptics grow louder by the day. While the challenges presented by a prolonged bear market can shake the nerves of even the most ardent web3 backers, it is during these uncertain times that we become collectively stronger, and the seeds are planted for the next phase of growth. With this backdrop, we are proud to announce Lattice II, a $60M fund to continue our mission of backing the most promising early-stage web3 startups.
Crypto moves fast, and if you’re deeply immersed in it, it can be easy to forget how far we’ve come. The last time the chills of a crypto winter settled in, the vast majority of crypto enthusiasts had never actually “used” crypto. There was no DeFi, very few NFTs, and our knowledge of DAOs was mostly just a legend of an ambitious project gone awry.
That last winter gave us a lot: a former mechanical engineer with almost zero software experience built us Uniswap; two friends toiled in an obscure corner of an obscure industry building us OpenSea, and a cast of crypto outsiders delivered a high-performant blockchain that would go on to be used by millions with Solana. There must be something about the cold that brings out the inner Shackleton in all of us.
We founded Lattice with the guiding principle of backing founders with big visions and fortitudes strong enough to build through the coldest & darkest of times. With Lattice II, we will be able to continue the journey, build alongside project teams, and sow the seeds for the next phase of growth.
We are laser-focused on helping project teams drive adoption via business development. In a very short period of time, business development in crypto went from not necessary, to a necessary evil, to absolutely necessary. It has become increasingly obvious that if you take an “if you build it they will come” approach, then — NGMI. On that front, we are here to actually be “helpful” and make a pledge to founders about how we invest.
Lattice is a closed-end fund, and our investors are locked for a decade. We don’t trade, and we are not here to dump your tokens at the first sign of adversity. We expect you to take a long-term approach, and we expect the same of ourselves.
Areas of Interest
DeFi
- Decentralized finance applications that leverage privacy-preserving technologies
- Financial primitives that create new user experiences and functionalities by addressing liquidity, scalability, and security issues
- Institutional grade financial products
Blockchain Infrastructure and Developer Tooling
- Protocols decentralizing the Web3 stack — node infrastructure, storage, indexing, oracles, etc.
- Companies reimagining blockchains scalability through a modular stack
- Collaborative and open-source platforms that improve developer experiences
- Effective Web3-native security solutions
- Companies building out the Web3 growth stack
Token Incentivized Physical Infrastructure Networks
- Projects leveraging token incentives for the deployment of physical infrastructure
- User-owned networks that bootstrap growth using crypto incentives
Web3 Consumer-Focused Products
- Protocols turning NFT’s into productive assets
- Projects that unbundle existing large Web3 consumer-focused verticals such as wallets, marketplaces, etc.
- Applications leveraging open social graphs
- Mobile-first decentralized applications
- Gaming companies that take a “player first” approach to solve complex design and monetization problems
- Token-gated networks that work on solidifying the brand-consumer relationship
We’ve identified the above areas we are very excited about but are cognizant of an ever-shifting landscape. We are flexible in our approach and constantly exploring the edges of crypto innovation.
Our partnership was forged in the depths of the last crypto winter, so we are no strangers to the cold. We are proud to continue to build alongside early-stage founders who are unfazed by market cycles. If this sounds like you, we’d love to hear from you.
Come build with us in the cold.
Regan Bozman + Mike Zajko
DISCLAIMER THIS MATERIAL (TOGETHER WITH ANY ADDITIONAL MATERIALS OR DOCUMENTS PROVIDED IN CONNECTION HEREWITH) HAS BEEN PREPARED BY LATTICE CAPITAL MANAGEMENT (“LATTICE”) AND IS NOT INTENDED TO BE (AND MAY NOT BE RELIED ON IN ANY MANNER AS) LEGAL, TAX, INVESTMENT, ACCOUNTING OR OTHER ADVICE OR AS AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF ANY INVESTMENT PRODUCT OR ANY INVESTMENT ADVISORY SERVICE, INCLUDING ANY LIMITED PARTNERSHIP OR COMPARABLE LIMITED LIABILITY EQUITY INTERESTS IN ANY FUND, MANAGED ACCOUNT OR OTHER SIMILAR INVESTMENT VEHICLE OR PRODUCT SPONSORED BY LATTICE ( A “FUND”).
ALL TERMS DISCUSSED IN THIS DOCUMENT ARE SUBJECT TO CHANGE. THIS IS NOT AN OFFER OR SOLICITATION FOR INVESTMENT INTO A PRIVATE FUND MANAGED BY LATTICE. PLEASE REFER TO FORMAL OFFERING DOCUMENTS FOR DETAILED INFORMATION ON FUND OFFERINGS. PLEASE REFER TO THE BELOW DISCLAIMER FOR ADDITIONAL INFORMATION. ANY THIRD PARTIES SHOWN WITHIN THIS DOCUMENT ARE FOR INFORMATIONAL PURPOSES ONLY. LATTICE DOES NOT ENDORSE ANY THIRD PARTY, UNLESS EXPLICITLY STATED. SERVICE PROVIDERS SUBJECT TO CHANGE.
THE PERFORMANCE OF ANY PORTFOLIO INVESTMENTS DISCUSSED IN THIS DOCUMENT IS NOT NECESSARILY INDICATIVE OF THE PERFORMANCE OF ANY OTHER OF LATTICE ’S PORTFOLIO INVESTMENTS OR ANY FUTURE PERFORMANCE, AND YOU SHOULD NOT ASSUME THAT INVESTMENTS IN THE FUTURE WILL BE PROFITABLE OR WILL EQUAL THE PERFORMANCE OF PAST PORTFOLIO INVESTMENTS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS OR A GUARANTEE OF FUTURE RETURNS. REFERENCES TO ANY PORTFOLIO INVESTMENT ARE INTENDED TO ILLUSTRATE THE APPLICATION OF LATTICE’S INVESTMENT PROCESS ONLY AND SHOULD NOT BE USED AS THE BASIS FOR MAKING ANY DECISION ABOUT PURCHASING, HOLDING OR SELLING ANY SECURITIES. NOTHING HEREIN SHOULD BE INTERPRETED OR USED IN ANY MANNER AS INVESTMENT ADVICE. INVESTMENT IN A FUND ENTAILS A HIGH DEGREE OF RISK, INCLUDING THE RISK OF LOSS. THERE IS NO ASSURANCE THAT A FUND’S INVESTMENT OBJECTIVE WILL BE ACHIEVED OR THAT INVESTORS WILL RECEIVE A RETURN ON THEIR CAPITAL.
THIS DOCUMENT IS NOT INTENDED FOR GENERAL DISTRIBUTION AND IT MAY NOT BE COPIED, QUOTED OR REFERENCED WITHOUT LATTICE’S PRIOR WRITTEN CONSENT. THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE. ANY SUCH OFFER OR SOLICITATION MAY ONLY BE MADE PURSUANT TO SUCH FUND’S FINAL CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM AND/OR THE RELATED SUBSCRIPTION DOCUMENTS, WHICH WILL BE FURNISHED TO QUALIFIED INVESTORS ON A CONFIDENTIAL BASIS AT THEIR REQUEST FOR THEIR CONSIDERATION IN CONNECTION WITH SUCH OFFERING. THE INFORMATION CONTAINED IN THIS DOCUMENT (TOGETHER WITH ANY ADDITIONAL MATERIALS PROVIDE IN CONNECTION HEREWITH) IS SUPERSEDED BY, AND IS QUALIFIED IN ITS ENTIRETY BY, SUCH OFFERING MATERIALS.
