Extremely excited to announce that I will be joining @SyncracyCapital to team up with @RyanWatkins_, @HighCoinviction, @WilsonWithiam and @tonydong__. It is my belief that the crypto industry has overindexed to venture vs. liquid. There are structural reasons for this. Long-biased liquid investing is a tough game. Volatility is high and the investable universe for scaled funds has been far too limiting. Historically, there have only been a handful of tokens that have justified a hold period beyond a few months. On the other hand, people NEED exposure to this asset class. Every cycle, there have been a few secular winners that have rapidly ascended to billions of dollars in market cap, achieving post IPO-like valuations while giving public market participants venture-like entries. While the underlying tech gets better and more marketable every year, for allocators who are not in the “trenches”, it is virtually impossible to sift through the glitter to find the gold. You need time and experience to navigate the minefield of alternative tokens outside of $BTC. Thus, the demand for competent crypto-native active managers will only continue to grow. Syncracy is the direct antithesis of all that is broken with liquid fund structures today. They have consistently been nimble enough to move early on the right names (SOL in 2023, HYPE in 2024) - and have also had the courage to size and concentrate with conviction. I’ve long admired their uncanny ability to parse out the generational onchain winners, selectively and repeatedly. My job going forward is to help the team ensure we find the next one. And the next one. You just cannot afford to be late to another $SOL or $HYPE if you want to outperform in this asset class. And there will be plenty of similar opportunities in the future waiting to be uncovered today. Big thanks to Ryan and Dan for believing in me. Can’t wait to learn from them and become the best investor I can be for our LPs. Higher for Syncracy from here.