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We have talked a lot about where the venture capital is currently found in crypto. I had the chance to catch up Rob Hadick from Dragonfly and choose his brain on the industry, the VCs and, of course, the stablecoins.
Hadick believes that the crypto backdrop at the moment “is as good as it has been” now that the United States is thinking about regulations and has been more user-friendly for industry. Add Hadick’s optimistic position to things like Stablecoins and Bam! He says he is “never more optimistic for crypto in the United States”.
However, he noted that assessments through the crypto are still “very high”.
Dragonfly slows down a little to properly choose his spots, he told me. But that makes sense, since it focuses on the tours of series A and B rather than pre-large or seed stages (which is a rare discovery in industry, but not abnormal given the relative youth of crypto).
“We really did not do much. In fact, the Q1 was perhaps our slowest quarter ever in terms of new mandates, leaves of new mandates signed,” he said. But it is not necessarily because of the global macro situation, he took care to add. This is partly due to Dragonfly’s balancing because it was “very aggressive last year”.
It is also because Dragonfly is “really sensitive” to the fact that the evaluations have taken off. “And for us, (this means) which simply changes the way we have invested in recent years. We are doing less transactions, but we do more important control sizes and we learn more possession,” he noted, so that they can associate themselves more with their portfolio companies.
Until now, the company has been very busy in the second quarter in progress.
“We have made a long-term sheet of all the Q1s, and the first two weeks of T2, we have already had (some) leaves already at the seed stadium,” he said.
Admittedly, one thing that made me curious was to think Hadick on the stabbed. He told me that there was a lesson buried in the success of the stablecoins for the native people of the crypto.
Despite the volatility we saw through DEFI and Crypto, the Stablecoins have managed an ascending trajectory – and yes, there is always a slight correlation between stablecoins and crypto. But the difference is that they managed to hit the nail on the head when it comes to solving real problems.
For the DEFI projects that seek to succeed in crypto at the moment, Hadick advises the founders to “solve the problems” that people of the real world experience.
“Let us continue to make the rails defy better than traditional rails,” he said, but it is a conviviality in the end and “bringing a better experience for the mass market”.
Now go ahead and build.
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