1/ From Trusted to Trustless...
Gm! I am happy to announce Canonical Crypto, a $20M early stage, “picks and shovels” fund focused on investing in founders building infrastructure in web3/crypto.
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2/ When we look at the web3 developer stack, it is still maturing compared to what we see in web2.
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3/ We take the web2 dev stack for granted - everything from code collaboration, testing, security, infrastructure, data storage, scaling, messaging, analytics, identity, monitoring, interop etc.
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4/ While some of these areas are getting the requisite attention, especially within certain crypto ecosystems, they are still fairly underdeveloped compared to web2.
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5/ We need better tooling and infrastructure to support developers building on-chain, and this will help move web3 development forward.
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6/ And while I am excited to see how we "unbundle AWS", there are net-new on-chain primitives arising, like the MEV “economy”.
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7/ Composability introduces wonderful network effects to projects that are thinking “protocol first” instead of “application first”:
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1/3 In web2, we are conditioned to think "user first" and "full stack": "let's build a marketplace for X".
Most in web3 are starting with "composable first": "let's build middleware that facilitates a marketplace."
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8/ The GTM for these developer-first companies looks different. I learned this first-hand during my time at Microsoft, where I was an early member of the Developer Evangelism team, and where I focused on getting developers to build on our platforms.
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9/ I have also founded companies and I have the scars to show for it. Hiring, growth + scaling, marketing, analytics, IR, fundraising, GTM, M&A - I have been there, done that.
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10/ Moreover, I have had the opportunity to lean in and support some early DeFi projects with their tokenomics, or auditing smart contracts, and I want to share my learnings.
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11/ I’ve also had the privilege of spending time with my friends at , where I learned from the best on how to work with companies at the very earliest stages in helping craft the narrative and helping companies thinking about turning an app into a business.
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12/ The DeFi masterclass and I launched last year has become an incredible marketplace for all types of talent and we have already had some of Canonical’s portfolio companies signup to get access to this talent.
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13/ As a tech native, a digital native, and now a crypto native, I am excited to combine all of this experience into building a world-class developer-friendly crypto fund to support the companies we invest in.
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14/ So grateful to my LPs who have placed their trust in me: among others.
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15/ I couldn’t have gotten here without . He has spent countless hours helping me refine my pitch and making key intros. This man should run a masterclass for emerging fund managers. Fortunate to be in his orbit. Thank you for all your support, brother.
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16/ To the founders who have entrusted me: I have made it a personal goal to appear in the “thanks” section of each of your investor updates. Hold me to it!
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17/ If you or anyone you know is building for developers in web3, please have them reach out. I also have a long “request-for-startups” - if you are a web2 product manager or developer looking to take the leap into web3, I’d love to chat: ai at canonical.cc
LFG.
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