How To Be Early In Crypto With Maven 11

May 8, 2025

Mads Mathiesen, a Research Partner at Maven 11, dives deep into the world of early-stage crypto investments. He talks about how the team identifies high-potential applications, including consumer apps and stablecoin payment systems. Mads discusses the evolving nature of crypto valuations and the necessity for innovative solutions in decentralized finance. He also highlights making early investments more accessible and shares insights on the future landscape of crypto consumer applications that truly resonate with users.

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ANECDOTE

Mads' Crypto Origin Story

Mads Mathiesen discovered Bitcoin in high school through Reddit and Bitcoin forums around 2013.
His interest grew from the cyberpunk ethos to technical understanding during his years in China starting in 2017.

INSIGHT

Users Lack Real Crypto Need

Many new crypto users lack real-life experience showing them why crypto matters beyond making money.
This explains the recent nihilistic meme coin and pump culture due to lack of deeper motivation.

ADVICE

Understand VC Lockups and Vesting

Early-stage investment platforms like Echo enable more accredited investors to access opportunities.
However, invest with awareness of lockups and vesting; profits usually take years to materialize.

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Mads Mathiesen is a Research Partner at Maven 11.

In this episode, we’re joined by a crypto-native VC fund Maven 11 to explore what it really means to be early in crypto. We discuss how their team identifies high conviction investments, like opinionated applications, consumer apps, and stablecoin payment systems. Plus, more on why the next wave of winners may look different from the last!

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Timestamps

0:00 - Intro
4:02 - Being early at Maven 11
6:34 - What got Mads into crypto
11:04 - Has crypto lost its way?
13:35 - Making early stage investing more accessible
15:58 - How private investments typically work at crypto VCs
19:37 - Criticisms over high FDV token launches
24:20 - Fat protocol vs fat app thesis
28:42 - Sponsor break
29:22 - How fat protocol winners might perform in the fat app era
33:14 - Can fat protocol winners evolve for better value accrual?
36:04 - Huge opportunity for app developers who understand infra
39:02 - Why invest in “opinionated applications”
41:41 - Sponsor break
43:19 - Investing in “extensions of existing ecosystems”
46:25 - The demand to invest in consumer apps
50:08 - Outsized opportunity remains in stablecoins
56:37 - Trends around yield-bearing stablecoins
1:00:27 - Private credit boom coming onchain
1:08:10 - What learning resource would Mads recommend?
1:10:50 - Closing

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🔗 Guest Links 🔗

► Maven 11 website: https://www.maven11.com/
► Maven 11 on X: https://x.com/Maven11Capital
► Mads on X: https://x.com/0xRainandCoffee
► Tim Roughgarden Lectures: https://www.youtube.com/channel/UCcH4Ga14Y4ELFKrEYM1vXCg

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.