In this episode of Inside the Hutt, Brooke Pollack welcomes back Joe Eagan, co-founder of Anagram and the podcast’s very first guest. Joe shares how Anagram has evolved from a two-person operation to a 25-person holding company and crypto venture platform. He explains their build-first strategy, the firm’s emphasis on composable synergy between building and investing, and the structure behind their asset management arm. Joe also discusses recent spin-outs like Glider, Swig, and Breeze, reflects on the firm's approach to engineering-led ideation, and addresses the growing role of Solana within their portfolio. The conversation closes with thoughts on crypto treasury plays, regulatory shifts, and the firm’s outlook as a holding company with permanent capital.
Key Points From This Episode:
Joe Eagan’s background and the early days of Anagram.
Anagram’s thesis: pairing human and financial capital for crypto investing and building.
Structure of Anagram’s 25-person team, including asset management, investment, engineering, building, and talent teams.
The evolution of Anagram’s internal build process and emphasis on rapid iteration.
Overview of projects like Glider, Swig, Breeze, and the firm’s Solana validator.
Strategy behind internal product development and its relation to supporting portfolio companies
The value of engineering-led ideation and bottoms-up product creation.
Examples of internal tools and spin-outs powering Anagram’s flywheel.
Role of Lily Liu as co-founder and her involvement with Solana Foundation.
Why Anagram remains chain-agnostic despite a strong Solana footprint.
Overview of Anagram Asset Management and its three crypto-focused funds.
Unique structure of short-duration, niche venture funds to match crypto’s pace.
How Anagram Liquid Ventures mirrors its venture strategy
The rationale behind running a holding company instead of a traditional VC fund.
Joe’s thoughts on long-term investor adoption and why skepticism still exists.
Links
Joe Eagan on LinkedIn: https://www.linkedin.com/in/joseph-eagan-22531577
Anagram: https://www.anagram.xyz
Anagram on X: https//x.com/@anagramxyz
Brooke Pollack on X: https://x.com/bhpollack
Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/
Hutt Capital: https://www.huttcapital.com/