AI Tools, Deal Sourcing, and Diligence Process

Join Tommy Shaughnessy as he sits down with Mike Dudas, Managing Partner at 6th Man Ventures, to discuss one of the most successful seed investments in crypto history. Mike shares the inside story of backing Pump.Fun years before it became a cultural phenomenon, generating over $800 million in fees and reaching a $5.5 billion FDV. From cold DMs to billion-dollar outcomes, this conversation explores venture capital strategy, founder evaluation, and navigating the intersection of AI and crypto investing.

6th Man Ventures: https://6thman.ventures

🎯 Key Highlights

▸ The untold story of Pump.Fun's seed round: from cold outreach to billion-dollar success

▸ Why regulatory risk-taking paid off in the Trump administration

▸ How to evaluate crypto founders differently than traditional startups

▸ The creator economy revolution: streaming meets tokenomics

▸ Digital Asset Trusts (DATs): the new MicroStrategy wave

▸ AI's impact on venture capital processes and decision-making

▸ Why attention spans are killing crypto Twitter's excitement

▸ From Bonk to Pump: lessons in meme coin investing

▸ Building conviction in contrarian bets during bear markets

▸ The importance of speed and decisiveness in early-stage investing

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🧠 Follow the Alpha

▸ Mike's Twitter: @mdudas

▸ 6MV's Twitter: @6thManVentures

🔗 Connect with Delphi

🌐 Portal: https://delphidigital.io/

🐦 Twitter: https://x.com/delphi_digital

💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/

🎧 Listen on

Spotify: https://open.spotify.com/show/62PR1RigLG2YN5Pelq6UY9?si=18ac7ccf36ab4753&nd=1&dlsi=50105fd66e6c4124

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-delphi-podcast/id1438148082

Youtube: https://www.youtube.com/channel/UC9Yy99ZlQIX9-PdG_xHj43Q

Timestamps

00:00 — Intro: Mike Dudas, 6th Man Ventures

00:30 — The Pump.Fun origin story: cold outreach and magical moments

03:45 — Regulatory risk-taking and the Trump administration impact

06:30 — Why other VCs backed out over legal concerns

08:15 — Being hands-on with portfolio companies without being pushy

10:30 — Pump.Fun's evolution: from bonding curves to creator streaming

14:00 — The Bonk vs Pump competition and market dynamics

17:00 — How AI and AGI are changing venture capital investing

20:15 — Digital Asset Trusts: the new wave of crypto investment vehicles

26:00 — Why crypto Twitter seems less excited despite regulatory clarity

32:15 — Using AI in venture processes: market research and founder support

38:45 — The most common path from DM to investment

42:00 — Founder evaluation: red flags and green flags

47:15 — When to tell portfolio companies it's time to move on

51:15 — Decision-making under pressure: the "hell yes" principle

54:00 — Staying entrepreneurial as a fund grows and succeeds

Disclaimer

This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.