![]() ![]() Listing a token can be a liquidity event for the founding team and early investors, allowing them to cash out some of their stake or update valuations in their portfolios, a source with experience in both venture investing and market making said. His firm has made 89 investments across two different funds. “Around 60% are yet to launch, and due to FTX exposure around 3% are on life support,” Oliver Blakey, partner and co-founder of Ascensive Assets, said in an email. ![]() It turns out that many crypto VCs are in the same boat. Kelvin Koh, managing partner at Spartan Labs, said the fund in question invests in early-stage ventures, and that part of its returns - even for projects that have launched tokens - are unrealized. Of the 108 projects that Spartan has backed through its $110 million DeFi fund, less than 40% have listed on exchanges, according to an investment report for the third quarter of 2022 obtained by The Block. Take Spartan Group, one of the more active investors in decentralized finance. There’s just one problem: A growing number of VCs are reporting that at least half their portfolio projects are holding back the launch of their tokens, citing fears over price, exchange fees and increasingly aggressive regulation. The bulk of their bets, if not all of them, are denominated in liquid tokens that can be marked to market at any time. Keeping tabs on performance should be easy for venture capitalists in crypto. ![]()
0 Comments
Leave a Reply. |