On The Brink with Castle Island Ruud Smets and Marc de Kloe (Theta Capital) on Blockchain Fund of Funds (EP.480)
Dec 4, 2023
Ruud Smets and Marc de Kloe, partners at Theta Capital, bring their wealth of knowledge in hedge funds and blockchain investments to the discussion. They explore Theta's venture into blockchain funds and the educational efforts needed for institutional investors. The pair dives into the significance of fund capacity and co-investment strategies. They share insights on emerging trends for 2024 and elaborate on the impact of the Legends4Legends charity conference, merging investment with philanthropy.
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Early Internet Investing
- Marc de Kloe recalls the early internet cycle, finding it hard to invest in due to limited opportunities.
- Years later, at Theta Capital, he saw blockchain as a repeat of that cycle but now investable from day one.
Blockchain Investment Approach
- Theta Capital started by offering blockchain investments to existing clients, positioning it as investing in the technology, not speculating on cryptocurrency.
- They initially used open-ended fund structures, later shifting to traditional venture structures.
Mapping the Crypto Ecosystem
- Map the crypto ecosystem and identify specialized funds in each area.
- Prioritize early-stage access over predictions about specific technologies.