Will the crypto industry be meaningfully bigger or smaller in five years?
If you follow the data over the last ten years, you will see that crypto is making what we believe is an inexorable march towards global adoption. Digital assets are here to stay, thanks in part to the issuance and success of the U.S. ETFs, and their existence implicates the need for hundreds of other projects, protocols and companies. From developer infrastructure to custody, from tax prep to DEXes, from wallets to borrow/lend protocols, if digital assets exist, these other products will too.
At CoinFund, we have extremely high conviction that the data tells us the crypto industry will be meaningfully larger than the ~$2.1T it is today, probably on the order of five to 10 times larger. And if we are right about that, then there will be scores to hundreds of new investment opportunities that will provide investors with significant and, we believe, asymmetric returns that will place the best crypto venture investors in the top decile of all venture investor performance.
We also believe that the best way of achieving this top decile performance is with highly trained, focused and specialized investors who eat, sleep, breathe and think crypto, meeting the best teams anywhere in the world, going deep into the technical differentiation and innovations, using the products as they are launched, and partnering with these teams to help build a new, decentralized internet.
To that end, we are excited to announce the hiring of three additional investors joining our Seed and Venture Investment team, focused on helping to invest from our current $157M Seed IV (2023) and $320M Ventures I (2022) vehicles:
Seasoned blockchain investor Bobby Beniers joins CoinFund as a Principal Investor focused on opportunities from Seed to Series A. He brings deep crypto infrastructure expertise and a passion for disruptive use cases like DePIN and DeAI. Before CoinFund, he served as an Investment Partner at Polychain Capital where he focused on investments into Movement Labs (Series A), Rio Network (Seed, acquired), and others. Beniers began his investing career at the tiger-cub hedge fund Matrix Capital covering crypto and software. Prior to becoming an investor, Beniers developed his passion for technology as a software engineer. Beniers holds a Bachelor’s Degree in Computer Science and Economics from Williams College.
George Christopher has joined CoinFund as a Senior Associate, applying his experience evaluating, investing in, and supporting best-in-class technology companies. Christopher was formerly at Battery Ventures where he focused on investments in growth-stage software. Prior to Battery, he worked as an investment banking analyst at AGC Partners. Christopher graduated from Dartmouth College with a Bachelor’s Degree in Economics.
The firm welcomes Jonathan Rotbard as an Associate. Rotbard brings more than four years of expertise analyzing and investing in the digital asset landscape. Prior to CoinFund, Rotbard served as a Venture Investor at Corner Ventures where he focused on both private and liquid crypto investments. He began his career in blockchain as an Investment Banking Analyst at Moelis where he worked on deals across the crypto ecosystem, including the Voyager and BlockFi bankruptcies. Rotbard holds a Bachelor’s of Business Administration from the University of Michigan Stephen M. Ross School of Business.
As I say in our press release, achieving outstanding returns for our LPs is our true north star. I believe we’ve honed an approach over nearly ten years that challenges our investors to think long-term, encourages non-consensus thinking and mixes individual responsibility with the value of a seasoned and proven investing team. It has never been more important to invest in and nurture a free and decentralized internet. CoinFund is an exceptional place to advance your investing career and build a better future. We will continue to grow our investing team, and welcome all outstanding investment candidates to reach out to us at EMAIL@EMAIL.COM