Who has the best track record in crypto vc?
We used fundraising data from @tokenterminal and market data from @artemis__xyz to answer this question.
Read our full analysis here:
TLDR
⬇️ ⬇️ blog.stratos.xyz/articles/state…
We used fundraising data from @tokenterminal and market data from @artemis__xyz to answer this question.
Read our full analysis here:
TLDR
⬇️ ⬇️ blog.stratos.xyz/articles/state…
It's important to caveat that we relied on the accuracy of the data provided. There are often rounds that go unannounced and key data missing from other announcements. That being said, we can still use the existing data to draw some interesting insights.
To start, let's take a look at the best crypto investments of all time.
We ranked each round by the FDMC at the end of Q3 divided by the amount raised in that round.
We broke it down by fundraising cycle to determine the best performers of each vintage. ⬇️
We ranked each round by the FDMC at the end of Q3 divided by the amount raised in that round.
We broke it down by fundraising cycle to determine the best performers of each vintage. ⬇️
Top deals done in 2015 - 2017:
@Filecoin @Ripple @Stacks @StellarOrg @Theta_Network @helium @qtum @dYdX
@Filecoin @Ripple @Stacks @StellarOrg @Theta_Network @helium @qtum @dYdX
Top deals done in 2018 - 2021:
@0xPolygon @solana @CelestiaOrg @LayerZero_Core @arbitrum @zksync @Sagaxyz__ @NexusMutual @AxieInfinity @cartesiproject @injective
@0xPolygon @solana @CelestiaOrg @LayerZero_Core @arbitrum @zksync @Sagaxyz__ @NexusMutual @AxieInfinity @cartesiproject @injective
Top deals done in 2022 - 2024:
@SeiNetwork @ethena_labs @Eether_fi @pixels_online @AethirCloud @dymension @Sagaxyz__ @alt_layer @BuildOnBeam @taikoxyz @CelestiaOrg @SuiNetwork
@SeiNetwork @ethena_labs @Eether_fi @pixels_online @AethirCloud @dymension @Sagaxyz__ @alt_layer @BuildOnBeam @taikoxyz @CelestiaOrg @SuiNetwork
Now that we've identified the highest returning deals, lets take a look at which funds have participated in these rounds.
We separated lead investors from follow on investors. Here's a list of the investors who led or co-lead these top performing rounds:
@multicoincap @polychaincap @paradigm @PanteraCapital @animocabrands and @a16zcrypto stand apart as the only firms who've led multiple of these.
@multicoincap @polychaincap @paradigm @PanteraCapital @animocabrands and @a16zcrypto stand apart as the only firms who've led multiple of these.
These funds were most often to participate in those rounds:
@cbventures @dragonfly_xyz @Delphi_Digital @usv @slow @naval @BlockTower @scalarcapital @placeholdervc @Maven11Capital @MaelstromFund @lightspeedvp @hypersphere_vc @hashed_official @Dialectic_Group @Consensys @1kxnetwork
@cbventures @dragonfly_xyz @Delphi_Digital @usv @slow @naval @BlockTower @scalarcapital @placeholdervc @Maven11Capital @MaelstromFund @lightspeedvp @hypersphere_vc @hashed_official @Dialectic_Group @Consensys @1kxnetwork
Since some of these investors are much more active than others, its also helpful to look at hit rate. We used the data from above but also took into account the total number of deals participated in to see who's highest. Major props to @BlockTower on this front!
With all the above information we constructed a matrix which we think provides an overview of the funds in the space.
This is a dynamic matrix given that oftentimes 1 major hit can be enough to move into a new quadrant.
Someday everyone can move to the top right. <3
This is a dynamic matrix given that oftentimes 1 major hit can be enough to move into a new quadrant.
Someday everyone can move to the top right. <3
Hopefully this was as interesting to others as it was to us.
We welcome any feedback or ideas for how to improve this analysis in the future. We plan to update this data on regular intervals so we want to get things as accurate as possible.
We welcome any feedback or ideas for how to improve this analysis in the future. We plan to update this data on regular intervals so we want to get things as accurate as possible.
Thank you to @artemis__xyz and @tokenterminal for providing the data.
And a major shoutout to @ljparmentier for all the work bringing this analysis together.
Follow us @stratosxyz @RennickPalley @nuss_eli and stay tuned for more threads diving into this data.
And a major shoutout to @ljparmentier for all the work bringing this analysis together.
Follow us @stratosxyz @RennickPalley @nuss_eli and stay tuned for more threads diving into this data.
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