Protagonist, a fairly new crypto fund and incubation lab, launched its first $100 million fund to focus on early-stage crypto companies.
The firm was founded in early 2022 and was originally called Ship Capital but changed its name shortly after.
“Protagonist is more about who we are and the people we want to invest in,” George Busis, co-founder of Protagonist, told TechCrunch. “Ultimately we want to build a brand, it’s not just starting a venture capital firm or something, it’s really investing in founders doing amazing things.”
He initially worked with individuals and family offices in the crypto space, but has become more open to partnering with institutions, Busis said. “We want to build relationships, but it’s more about finding the right partners and choosing the right LPs rather than chasing dollars… for us, that’s really how we live, we want to invest in people and build 50 year relationships. “.
The foundation was founded by Busis, Dylan Macalinao, Ian Macalinao and Harry Hurst. Both Macalinao founded Solana-focused cross-chain liquidity network Saber Labs, and Busi and Hurst are longtime entrepreneurs and investors.
$100 million will be invested primarily in early-stage cryptocurrency companies focused on gamesinfrastructure, new blockchains and ecosystems, or security and privacy.
It also develops and implements its own protocols. Its initial portfolio companies are layer 1 scalable blockchain, Aptosthe Solana protocol, which provides conditional ownership of NFTs, cardinalas well as a platform for digital banking and lifestyle services, Cogney.
“Some of the things I’m personally very excited about is bridging the gap between digital and physical assets and actually using crypto, defi and blockchain as a technology without consumers realizing or realizing they are using it,” Busis said. . “I think that’s where the future is headed, a world where human behavior and experiences don’t change, but should only get better.”
Creating and investing in new crypto technologies does not mean that ordinary people will create or understand seed phrases or crypto wallets, according to Busis. “The very notion of interoperability should never have been a question or a problem if you really want this industry to expand and touch the next billion users.”
Bye grades are falling Busis believes now is the best time to invest.
“In bear markets, because of financial crises and things like that, you see some of the best businesses and profits come from those markets,” Busis said. “This is where legends are born and you can really make a name for yourself…we think this is where real builders and investors will thrive.”
Credit: techcrunch.com /