We are witnessing the early days of the emergence of a global, open financial system, the impact of which will rival that of the internet itself. Its growth will redistribute existing assets, create new ones, and change the nature of how money is created and flows. Permissionless access to non-sovereign stores of value (such as bitcoin) and composable financial protocols, paired with powerful coordination and incentive mechanisms, are becoming the new norm. This open financial system is evolving rapidly, with everyone from startup founders to Fortune 500 companies, pseudonymous hackers to politicians, fintech giants to institutional wealth managers, all coming to realize that there’s a once-in-a-generation opportunity to not only stake their claim, but to help define the platforms that will shape commerce, culture, and society for decades to come.
While we’ve been participating as builders, investors, and traders in this ecosystem for the better part of a decade, we’re proud to unveil an entity that allows us to engage in new ways: Nascent.
At the highest level, we are a multi-strategy investment firm that pursues compelling opportunities in crypto, DeFi, and the open economies they enable. We back early-stage ventures, publicly traded protocols, and everything in between. Talent and opportunity are global, and thus our investments and team are as well.
We believe that maximizing both returns and impact requires the ability to invest more than just capital. We don’t wire funds or sign a transaction and then sit back and hope to eventually see number go up; we are active users, builders, and protocol politicians. We prefer to get involved with teams from the very earliest stages to help them start from the strongest possible foundation. As a multi-strategy firm, our support for teams and protocols extends beyond initial launch, including liquidity provisioning, access to in-house technology and analytics, and a variety of other crypto-native capabilities.
In order to be the best partners to work with, we have prioritized three principles in designing Nascent:
- Be nimble
- Align incentives
- Build for the long term
Be nimble — Nascent is purposefully built for maximum flexibility and adaptability. We are structured as a proprietary investment firm, meaning the only investors are the Nascent team members themselves. This allows us to adapt to new and ever-evolving ways to participate in the crypto ecosystem much more quickly then traditional funds with pre-ordained strategies, fund lifespans, and other constraints.
Align incentives — The builders and investors on the Nascent team are able to contribute their own capital on an ongoing basis, giving them the ‘skin-in-the-game’ of a personal account, but with the additional advantages of the shared insights and proprietary infrastructure we build together. Having 100% internal capital means that once we build conviction around a strategy or investment, we never have to waste cycles selling it to new LPs or worry about scaring off existing ones.
Build for the long term — While we believe it is imperative to move quickly and adapt to new opportunities in a rapidly-evolving landscape, it is equally important to be able to take a long-term view, exhibit patience in the face of market gyrations, and maintain a commitment to build. Our internal research and development efforts — as well as our external investing activities — are based on an appreciation for the innovation achieved from sustained effort over many years, continuously learning and improving from mistakes and insights.
We are Nascent, because as crypto continues on its long path to maturity, there will always be pockets of exciting, early experimentation. If you’re going to be here through multiple cycles, we’d love to work with you through any or all of them — either by supporting your venture or having you join our team. Let’s grow ourselves and this industry, together.