Blockchain Coinvestors Syndicate Newsletter - Vol. 1, No. 2.

Syndicate Newsletter

Vol. 1, No. 2. February 2021

Dear Blockchain Coinvestors Syndicate Members,

January was a rip roaring month in the world of crypto

Crypto came screaming out of the blocks in the new year, with total market cap up 43% in the first eight days, before settling to an impressive 32.7% gain for the month. Bitcoin’s 17.3% rise was dwarfed by gains in Ethereum (up 77.9%), which was dwarfed by gains in some of the leading DeFi apps (e.g. Uniswap was up 243%).

The macro environment was also hugely positive for crypto with seminal events ranging from the raid on the Capital (highlighting the chaos engulfing democracies around the world), to Robinhood shutting down trading in GameStop and other stocks (highlighting the massive flaws inherent in centralized financial applications).

As we stated in our first newsletter last month, these newsletters are meant to provide our Blockchain Coinvestors AngelList LPs with:

1. Syndicate Investment Updates

2. What to Expect in the Coming Month(s)

3. Syndicate Community Progress

4. Help Needed.

Syndicate Investment Updates

Our first investment, Uphold, hit some kinks at AngelList that delayed the closing. Given the delay, we opened the investment back up and added another $27,000, 27% above our initial goal. Our second investment, DappRadar, raised $154,780, 54% above our original goal. We continue to get phenomenal deal flow from the 15 VCs we’re LPs in. Our next investment is

XXXXX, REDACTED

We have two more investments poised to launch in February, as we continue to scale the Syndicate.

What to Expect in the Coming Month(s)

The good news is, the AngelList platform continues to grow at a rapid pace. The bad news is, the rapid growth is straining AngelList resources, so it’s taking longer to get the deals live.

In addition to new deals, we’ll also continue to provide educational content, including new episodes of “AngelList Syndicates Are Killing It”, where we invite the leading Syndicates to share insights on optimizing investment returns on the platform. In addition to our own Matthew Le Merle, our first

episode featured Phil Nadel, Co-Founder and Managing Director of Forefront Venture Partners, a Syndicate

he started with Barbara Corcoran in 2014. The forefront Syndicate made 15 investments in 2020.

Syndicate Community Progress

The Syndicate saw continued LP growth in January, adding another 34 LPs, to reach 209 total. We

view this AngelList syndicate as a community and we know we’ll optimize our deal flow if we can make

our LP base grow as quickly as possible. We thank you for your continued help here.

While we track total LPs, the far more important metric is how many of our LPs participated in an

investment. While participation is a function of the total # of LPs, the total # of deals, and the quality of

the deals, it’s really the quality of the deals that will drive the other two metrics. So that continues to be

our major focus.

Help Needed

One of the interesting points made by Phil Nadel in our webinar was how Forefront leverages the

investor base to help the Syndicate’s investments. Look for us to share more thoughts on that thread in

the coming months.

Thanks again for your support.

Alison, Lou and Matthew

Blockchain Coinvestors AngelList

Join our syndicate on AngelList providing access to rounds that we are investing in. Blockchain, Crypto and Fintech. Click here to go to our Syndicate page on AngelList.

Blockchain Coinvestors Syndicate Newsletter - January 2021

Syndicate Newsletter

January 2021

Dear Blockchain Coinvestors Syndicate Members,

First a happy and safe 2021 to each of you and our gratitude for joining the syndicate. Welcome to the first newsletter. This one will be brief, but does include one big ask we have of each of you.

Syndicate Goals

Since 2014 our ​goals have been to provide broad coverage of the emerging unicorns and fastest growth blockchain companies and to capture superior returns from investing in the leading blockchain venture partnerships​. The strategy is now entering its ​8th year​, and so far we are investors in 20 pure-play blockchain venture funds in the Americas, Asia and Europe and in a combined portfolio of more than 250 blockchain and crypto projects including 20 blockchain unicorns. Simply put, our funds, SPVs and syndicates represent the best way to invest in blockchain businesses.

When ​we announced​ the Blockchain Coinvestors AngelList Syndicate in September, the core premise was that we could provide this same access on AngelList. We want to open up our investment opportunities to a broader investor community including those who may not want to be LP’s in our funds, or make the larger commitments required in our SPV’s. Most important of all, we want to democratize access to the leading blockchain opportunities. Which is of course a key tenet of the distributed movement. We feel it is time to eat our own dogfood if you will. And given the requirements of today’s accredited investor world, this seems to be the most practical approach for now.

Given our dealflow, and our outlook for blockchain and crypto in 2021 and beyond, we couldn’t be more excited.

In our newsletters we’ll usually provide:

1. Syndicate Investment Updates

2. What to Expect in the Coming Month(s)

3. Syndicate Community Progress

4. Help Needed.

Each is discussed in turn.

Syndicate Investments Updates

We are investors. We look forward to being judged by the collective return of our LPs. While our funds are showing exceptional performance, we don’t yet have any meaningful data to share regarding our initial AngelList deals. However, in the future we expect to lead with the returns - always. We have completed our investment into Uphold, and are 70% of the way to our commitment to DappRadar. Both of these investments are privileged access opportunities that came from our upstream venture fund investments. A central tenet of our investment thesis is that we need to invest into the best deals alongside the best investors. So expect more deals like this where leading investors and protocols are sharing their deals with us, and so to you. Starting with DappRadar, and going forward, we’ll endeavour to hold a webinar with the founding team to provide additional context to our LPs. You can find a recording of the (highly informative) DappRadar webinar by ​clicking here​ (for LPs only).

What to Expect in the Coming Month(s)

We have two (perhaps 3) investments in the process we hope to bring live in January. We know you will be very excited by them. So stay tuned.

Syndicate Community Progress

We view this AngelList syndicate as a community and we know it will become more attractive for all of us if we can make it grow as quickly as possible. We’ll talk more about the implication of this network effect in future newsletters. In outline, given the relationships we have to the leaders of blockchain companies and projects our deal pipeline is very strong. However, even with this access, the size of the community and its capital investment appetite are both important to attract the best deal opportunities. So the other metrics we are focused on are highlighted below. They focus on our network strength here on AngelList.

We’re happy with the almost 200 members that have joined us in just the first few months and thank you for being willing to trust us with your confidence. We very much appreciate it. However, we are on a mission to 10x the syndicate membership in 2021 so that each and every one of us can have access to the best opportunities including those which have to be persuaded to come to an open platform like this. We are reaching out to all of the investors in our own networks and encouraging them to come to this AngelList syndicate. In addition, we have partnered with Mati Greenspan and Quantum Economics to leverage their reach across social networks and their newsletter to help drive awareness of the Syndicate.

Help Needed

This is where we need your help right now. Please help us 10x this syndicate membership. It will only take a moment to share the following with your own networks, here on AngelList and in your broader social and online channels.

Example post

Blockchain Coinvestors AngelList Syndicate Now Live Please join me and a host of other blockchain and crypto investors in building the best way to invest in blockchain businesses. Click ​this link​ to join the syndicate now.

Over time the reward we can each expect from this community building effort is that we will have secured the best investor access in the blockchain and crypto world - bar none.

Thanks again for your support.

Alison, Lou and Matthew

Blockchain Coinvestors AngelList

Join our syndicate on AngelList providing access to rounds that we are investing in. Blockchain, Crypto and Fintech. Click here to go to our Syndicate page on AngelList.