Digital Assets Fund (BVF1)

We source opportunities through our global network of founders, researchers, developers, and investors across the crypto ecosystem.
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Leveraging deep industry relationships and a research-driven approach, we identify founders building the foundational infrastructure and applications powered by blockchain technology.

Our position as a crypto-native firm, combined with years of active participation in the ecosystem, gives us early access to emerging projects and allows us to partner with founders from the earliest stages.

Our investment process is driven by deep research and rigorous analysis. We evaluate opportunities across multiple dimensions, including the strength of the founding team, product innovation, market opportunity, and the long-term sustainability of the underlying economic model.
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We focus on projects building critical infrastructure and applications across key verticals such as DeFi, payments, and financial infrastructure. Particular emphasis is placed on projects that introduce novel financial primitives, improve capital efficiency, or expand access to global financial markets.

Our venture strategy focuses on early-stage investments, typically at the pre-seed and seed stage, where we believe the risk-return profile is most attractive.
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We typically invest $1–1.5 million per initial investment, targeting 2–4% ownership in a network or company. Our goal is to build a diversified portfolio of approximately 60 investments, while reserving capital to increase exposure to our highest conviction opportunities through follow-on investments.
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This disciplined portfolio construction allows us to capture asymmetric upside while maintaining long-term alignment with the founders we support.

We view ourselves as long-term partners to the founders we back. Beyond capital, we provide hands-on support tailored to the needs and stage of each project.
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Our team actively supports portfolio companies across areas such as research, product development, token design, hiring, fundraising, and go-to-market strategy. Through our network of investors, builders, and ecosystem participants, we help founders access the resources needed to scale globally.
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Our goal is to help founders build category-defining companies and protocols that shape the future of digital finance.