In this episode of Inside the Hutt, Brooke Pollack speaks with Andy Kangpan, co-founder of Metalayer Ventures. Andy shares his journey from ff Venture Capital and Two Sigma to founding Metalayer, a firm focused on the future of finance moving on-chain. The conversation explores Metalayer’s investment thesis, the evolving crypto infrastructure landscape, and what Andy believes are the most exciting opportunities across stablecoins, market infrastructure, and asset tokenization. He also discusses the firm’s data-driven sourcing platform, founder support strategy, and broader views on DeFi and blockchain adoption.
Key Points From This Episode:
Andy Kangpan’s career path from ff Venture Capital to Two Sigma and into crypto.
The origins of Metalayer Ventures and its spinout from Two Sigma.
Metalayer’s thesis: the global financial system will be on-chain within the next decade.
Breakdown of Metalayer’s three investment categories: market infrastructure, stablecoins, and tokenized assets.
Rationale behind early-stage equity and token investments in crypto.
Evolution of exit opportunities for equity-based crypto businesses.
Regulatory improvements accelerating institutional crypto adoption.
In-depth analysis of stablecoin investment categories and use cases.
Challenges and opportunities in crypto market infrastructure.
Comparison of competition dynamics across stablecoins and infrastructure.
Insights into real-world asset tokenization, especially in private credit.
Metalayer’s approach to investing in DeFi and institutional-focused protocols.
Blockchain ecosystems gaining traction among financial institutions (Ethereum, Solana, Avalanche).
Metalayer’s data-driven sourcing engine, Morai, and how it supports the investment process.
What differentiates Metalayer as a capital partner for founders.
Geographic investment focus by category across the Metalayer portfolio.
Highlight of Station 70, a recent investment in digital asset security infrastructure.
Andy’s past ambition to become a professional skateboarder and his continued passion for skating.
Links
Andy Kangpan on Twitter: https://x.com/kangpandabear
Andy Kangpan on LinkedIn: https://www.linkedin.com/in/andrewkangpan
Metalayer: https://www.metalayer.vc/
Brooke Pollack on Twitter: https://twitter.com/bhpollack
Brooke Pollack on LinkedIn: https://twitter.com/bhpollack
Hutt Capital: https://www.huttcapital.com/