Investing in the Future of Technology: Joining Draper Associates
I am excited to announce that I have recently joined Draper Associates as an Investor. Draper Associates stands at the forefront of early-stage venture capital, with a legacy of backing iconic companies such as Hotmail, Skype, Baidu, Tesla, SpaceX, Twitch, Cruise, Carta, Webflow, Robinhood, and Coinbase.
Having spent the past 6 years in the Blockchain industry, the Draper name stands out to me for their early commitment to the space, as one of the first venture capital firms to take big bets on the industry. Tim Draper’s long-term vision and open mind sets him apart. Early on, Tim not only recognized the potential of blockchain technology, but also invested heavily in what many considered a speculative and uncertain field. The firm’s ability to see beyond immediate trends, combined with a relentless belief in the transformative power of decentralization, showcased a unique perspective for the industry.
Following my passion around the ways that web3 will disrupt our interaction with data and money, I am energized to be working alongside entrepreneurs enabling new business models within the industry.
But things don’t stop with Blockchain.
Joining a generalist fund was extremely important to me, in order to keep top of mind the many verticals that will shape our world in the coming years. At Draper Associates, I can absorb knowledge from colleagues proactively exploring and analyzing deep tech companies with pioneering innovations across a diversity of fields outside of my own expertise. I am excited to be in a position to take on bets, just like I did in my personal career with blockchain, in various sectors ranging from breakthroughs in space exploration, the ever-evolving realm of robotics, advancements in healthcare technology, cutting-edge solutions in cybersecurity, immersive experiences in AR/VR, and the transformative capabilities of AI.
My journey to Venture Capital
Wall Street Trader
In 2016, I started my career as a FX trader at BNP Paribas, where I gained a passion for investments and risk management. There, I noticed how technology was drastically changing the way firms operate. From 12 traders, my team was reduced to 4 in under a year, as algorithms evolved in efficiency, diminishing the need for human intervention. I understood that my career will be driven by those technologies that change the ever evolving world we live in.
The move
In 2017, one word reverberated on the trading desk: Bitcoin. As many of my co-workers took on trading roles in the crypto industry, I focused my attention on a potential career move.
Why join a trading desk and do the same thing I was doing at BNP but with a different asset class?
Wouldn’t those crypto traders be removed by algorithms again once the industry matures?
Why are people not using the underlying technology of blockchain but simply trading the assets living on it?
The Beginning of DeFi
That’s when I met the team at AirSwap, one of the first decentralized exchanges, and joined the team as Head of Trading to build a more open and secure financial system. At AirSwap, I helped shape DeFi (we called it Open Finance back then) in its early days, and travelled around the world to meet forward looking, open minded entrepreneurs building the tools to redefine our financial system.
This was my first taste at entrepreneurship and I immediately got hooked.
We sold AirSwap to Consensys, the company behind Metamask in 2020. Our team and technology now powers all the trades inside the most used Blockchain wallet.
Gaming and the Metaverse
By 2020, as crypto onboarded the majority of traders, I began contemplating the applications that would bring the next million users into the sector. The current structure of the web is set for a transformation, where users can reclaim control over their digital assets. Initiating this shift with gamers is logical, given their typically higher technological acumen.
I pitched the idea and convinced the gaming company Atari to enter the blockchain industry. My position at Atari entailed the building of the entire blockchain division, and challenged me with new problems, as the focus shifted from building a niche product for niche users to implementing a new technology for the masses.
We partnered and built applications with all the game developers in the industry: The Sandbox, RTFKT, Zed Run or Decentraland. All of this prior the big Metaverse boom. The company made record profits but a change in ownership shifted the vision away from blockchain to re-focus on AAA games. It was time for me to leave.
Back to School
Following these two unique adventures, I applied and got into the MBA program at Columbia Business School — the perfect platform for me to further expand my leadership and technical skills and transition my career to venture capital. I didn’t really know what VC was all about when I started at CBS but what I did know was that I had predicted trends early and helped ideas scale to businesses. It seemed like a perfect fit.
Although many in the industry doubted my decision — given that few with a successful track record in blockchain chose to pursue an MBA — I believed it was the right move. In the fast-paced world of crypto, two years can feel like an eternity, with the risk of quickly losing relevance. However, I saw this as an opportunity to discern my role in the industry and forge invaluable long-term relationships
At Columbia, I swiftly had the opportunity to collaborate with investment funds during my studies. Initially, I assisted SalesForce Ventures in formulating their investment thesis as they ventured into the blockchain arena. Subsequently, I re-engaged with my old world of DeFi investing with QCP Capital, one of Asia’s leading digital asset firms. And finally landed at Draper Associates, where the fit was obvious for me to continue working full time and start my VC career.
Reach out
I have yet to discover what my exact investment style will be and where I need to focus the majority of my time. But I know that I have never been as excited to engage with people from across the world about their ideas and vision for the world.
If you are building anything early, or are an investor willing to spread some knowledge, I am available at: maxime@draper.vc
