It’s been almost exactly six months since Eniac first announced our crypto investment strategy. While the firm’s partners had been investing personally in the ecosystem for years, web3 was growing so quickly (especially developer growth) that we felt the need to rethink our approach as a firm.
Specifically, we implemented an on-ramp strategy into the space by writing checks that were smaller than the typical Eniac investment, with the ability to participate in syndicates and invest in token offerings as well. In doing so, we hoped to learn as much as possible about the most promising parts of the ecosystem while offering full partnership support to web3 founders and helping to push the ecosystem forward.
We’ve moved quickly since then, making more than 20 investments in web3 startups.More