100&100 Venture Capital (ENG)
Greetings from Cosmochain,
We would like to deliver the news of fourth investment from 100&100 Venture Capital along with CEO Interview.
CEO Interview, Victor Jung of 100&100 Venture Capital
1. Please introduce 100&100 Venture Capital, one of the most popular blockchain investors these days.
100&100 Venture Capital has been carefully selecting and investing in 30–40 renowned projects since 2017, and demonstrated high rate of return in more than 90% of the investment portfolio. As a result, although many big investors faced difficulties in the historic bear market of 2018, we accomplished an ROR of more than 1,000%. Our major investments include ICON, Wanchain, Ziliqa, Terra, Cosmochain, Temco, IOST, BTT, etc.
Along with investment, we directly operate nodes as a validator. For example, we operate the biggest node for IOST in Korea, and are leading the ecosystem as one of the top 10 nodes for Terra.
2. Relative to your successful portfolio, you don’t seem very well-known. What could be the reason?
Until very recently, most crypto VCs prioritized marketing to brand themselves along with their investment activities. In think this culture was unique to the crypto market. I think the past crypto market was irrational, in a sense that investors were unable to invest, even if they wanted to. Accordingly, many institutional investors focused on publicizing themselves, and earn the opportunities to participate in investment by becoming famous. Therefore, many put branding in order to earn investment opportunity above investment itself.
We concluded that this irrational situation would not continue for long. So, we focused on investment activities and securing the funding power, through high profits, which is the weapon for investors, rather than publicizing ourselves. For these reasons, we have higher ROR and manage bigger funds than other investors, but may not be known to retail investors.
3. In that case, what is 100&100 Venture Capital’s investment philosophy?
I think it would be the person, judgment, and objectivity.
1) The crypto market is like a lawless zone. This means credibility matters, and the person matters for the credibility to be built. Sometimes, I make investments decisions within 1 hour after the initial meeting. Cosmochain was one of them.
2) We don’t make hasty investment decisions just because a project has a good CEO and that we’ve built a reliable relationship. In an immature market, especially like that of cryptocurrency, projects are easily influenced by external variables. To quote a common saying, I don’t think there can be a project that can win the market. So, we require projects to have accurate judgment of the market situation. And probably because 100&100 also made the right judgments about the market, we could reap high profits in early 2018, May 2018, and rebounding market of 2019.
3) Even when the above 1 and 2 are satisfied, we may lose a good opportunity if we don’t have objectivity regarding the market. I think what is more important than making an investment decision is deciding when to realize the profits. Without objectivity, you may lose a chance to realize the profit in time, and end up with an unsuccessful investment. I think we’ve all experienced it in 2018.
4. Why did 100&100 invest in Cosmochain earlier this year?
Over the past year, we’ve been making a profit from our conservative approach, waiting for the time for the market to rebound. Through an internal meeting held last December, we concluded that dark years of crypto market were over and that a rebound might come, so we started looking for projects where we can make aggressive investment. We expected that If the rebound was to come, there would be no rebound for all projects but for just a few. This was why we were particularly interested in projects that would later be in the spotlight. 2019 will be the time for large companies to enter the market, and judging that projects related to large companies are likely to be noticed, we began to look for projects with relevant issues and analyzed in depth the 10 projects who were the Klaytn’s initial BAPP partners.
Finally, after a number of analyses, we decided to invest in Cosmochain.
5. Could you disclose your AUM?
We can’t disclose a specific figure, but we can say that they are the top tier of the crypto VCs, currently active in Korea. As for our investment style, we don’t simply invest in a lot of projects. We rather spend relatively large amount of money on just a few projects through ‘choice and focus’ strategy. I think because of this we became the biggest holder of most projects we have invested in.
6. I heard you said something interesting about the token model.
Because most Dapp projects are not Security Token, they can’t have real value unless their utility is secured. I now believe projects that continue their service just from ‘favorable news/indications’ will eventually be thrown out of the market
It’s time for the Dapp projects to seriously think about these problems. To me, Cosmochain seems to have thought about this for a long time. Cosmochain believes that there is a point where business and token ecosystem can grow together, and this point is more important than we think.
7. Some investors these days are investing along 100&100 Venture Capital.
I don’t really know if it’s true or not, but I have heard of it through various channels. Personally, I’m glad because it’s interpreted as a sign that 100&100 has gained trust from other investors. But I think in order to be a successful investor, having one’s own investment standards is very important.
I believe it will be a better investment strategy to set investment standards first and use our portfolio as a reference.
8. Any last words to Cosmochain holders?
I would like to say a few words about the current market situation. Recently, all altcoins besides Bitcoin are having a difficult time. Maybe this could have been somewhat foreseen. I believe that projects without solid business model and practicality will quickly vanish from the market. Therefore, we try to find projects with business model and business value.
Although it is difficult to predict the future for Cosmochain and they may be going through hard times in the short term, we believe there is abundant potential in the project. We go through infinite cycle of successes and failures as we make investments, but shouldn’t we at least invest in a project with potentiality?
About Cosmochain
Cosmochain is a blockchain project based on beauty data, founded in March of 2018. We aim to contribute to the development of beauty ecosystem by systematically managing data incurred within beauty industry, and by providing data to those in demand through our platform.
On June 2019, Cosmochain launched its main service “FitsMe” based on the 1.5 million data points incurred through its pilot service “COSMEE”. So far, FitsMe is among the fastest growing DApp, ranking 6th within Beauty Category of Google Play Store, with an MAU of 20,000 people.
Cosmochain Official Channels
● Cosmochain Web: https://cosmochain.io/
● Telegram(Announce): https://t.me/cosmochainannouncement
● Telegram (KOR): https://t.me/cosmochain_english
● Telegram (ENG) : https://t.me/cosmochain_global
● KakaoTalk(KR): https://open.kakao.com/o/gAMfQpU
● Medium : https://medium.com/Cosmochain
● Twitter: https://twitter.com/cosmochain
