In this episode of the Fundamentals podcast, we’re joined by Evan Fisher, the founder of Portal Ventures – a fund that is accelerating the protocol economy through business fundamentals. Portal Ventures identifies and supports crypto businesses that will define the next generation of our economy. They advise on strategy, roadmap, go-to-market, value capture, fundraising, and more. In this episode with Evan, we discuss Portal Venture, their investment strategy, and how they work with the projects they invest in. We cover what makes crypto interesting, and what the most common misconceptions are that traditional investors have about the asset class. We also break down the pros and cons of liquid venture, discuss crypto business models, and speak about whether crypto projects are software or marketplace businesses. Finally, Evan shared what he is most excited about in crypto right now. Tune in for a great discussion about the fundamentals of the protocol economy. Portal Ventures: Site: https://portal.vc/ X (Twitter): https://twitter.com/PortalVentures Evan: https://twitter.com/evanbfish Explore market sectors, metrics, project dashboards, financial statements, trending contracts, and more: https://tokenterminal.com/terminal Make sure to leave a comment if you have any questions 🙌 📊 Token Terminal platform: ► https://www.tokenterminal.com/ ----------------------------------------- 💬 Join our Discord: ► https://discord.com/invite/tokenterminal ----------------------------------------- 📱 Follow us on Twitter: ► https://twitter.com/tokenterminal ----------------------------------------- 📩 Subscribe to our Newsletter: ► https://tokenterminal.com/resources ----------------------------------------- Timestamps: 00:00 Introduction 00:58 Evan’s introduction & background 02:53 Overview of Portal Ventures 05:12 The problem the Portal Ventures solves for LPs 07:40 Is Ethereum a marketplace or software business? 10:10 The biggest misconceptions that traditional investors have about crypto 13:28 Crypto business models & how does Evan approach valuing early-stage projects that don’t yet have cashflows? 15:27 The pros and cons of liquid venture 18:24 Portal Ventures’ investment underwriting process: sourcing, diligence, decision-making 22:06 What stage does Portal Ventures invest at? 23:25 Does every investment need to be able to theoretically return the fund? 25:30 How does Portal Ventures utilize data? 27:41 How does Portal Ventures work with the projects they invest in? 31:22 The lack of non-technologists in crypto 32:03 Investment case: Blueprint (Concrete) 35:10 What is Evan most excited about in crypto right now? 37:30 The biggest challenge that funds face in this space today? … Crypto redefines the way businesses are built and operated. Token Terminal gives you the tools to evaluate and track the most promising projects. The following content is meant purely for educational and informational purposes, and should not be relied upon as financial, investment, legal, tax, or any other professional advice. The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating, or are invested, in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content. #Fundamentals #PortalVentures #Crypto #TokenTerminal