
Liquid - Web3 Crypto Investing
Liquid is a series dedicated to web3 crypto investing, hosted by Cosmo Jiang and Joyce Yang.
Each episode we interview portfolio managers and venture capitalists on how they find, evaluate and select the next generation of great investments. We demystify the world of liquid token and venture investing by talking to some of the best investors about their views on the industry, investment process best practices, and how they see the web3 crypto investing changing over time.
Latest episodes

Feb 12, 2021 • 52min
How Parafi Thinks about Investing and Defi with Santiago R Santos
Please remember to rate and review our podcast! Join our Telegram group and chat about crypto investing! https://t.me/joinchat/H7EaO8wnjvzCrodz Topics we've discussed include: 1) What's Parafi's portfolio allocation right now? 2) How does Parafi invest in defi in real time data? 3) Santiago's advice to think about building for institutions vs crypto native whales? 4) Opportunities and innovations for where the new inflow of institutional money is going? 5) The disconnect between how traditional finance folks are thinking about defi 6) Advice for investors: dont buy to speculate, buy to use 7) What is parafi excited about now? If you’d like to see more from Santiago, you can follow him on Twitter @santiagoroel

Feb 5, 2021 • 54min
Top Advice for Founders When Fundraising, Building and Growing with Stani Kulechov of Aave
Please remember to rate and review our podcast! Stani Kulechov is the CEO of Aave and also an active angel investor. We talk about how Stani started angel investing, his advice for founders on how to fundraise and hire, how to avoid early startup mistakes, how to inspire teams and where he thinks the crypto space is going. Topics we've discussed include: 1) How did Stani started investing? 2) How should founders think about who to have on the cap table when fundraising? 3) What common mistakes do founders make when starting out? 4) How should the founder incentivize employees when the token has already run up significantly? If you’d like to see more from Stani, you can follow him on Twitter @StaniKulechov If you'd like to see more from us, join our telegram or discord channel and be kept up to date with the latest investment research, breaking news and content, Crypto community happenings around the world! Telegram https://t.me/joinchat/H7EaO8wnjvzCrodz Discord https://discord.gg/SCDMa48qhx

Jan 29, 2021 • 54min
Bringing Opportunities in Crypto Beyond Korea with Baek Kim of Hashed
Baek Kim is the head of US at Hashed. We talk about how Hashed is pushing in the forefront of blockchain, crypto and fintech in Asia, Hashed's investment strategy for their new LP fund, the type of entrepreneurs they look for in the space and more. Topics we've discussed include: 1) How is Hashed thinking about crypto, fintech and blockchain? 2) Where is the current investment opportunities in Korea and Asia? 3) How does Hashed get involved in its crypto investments? 4) What are some not commonly known facts about Hashed? If you’d like to see more from Baek, you can follow him on Twitter - @baekkyoumkim

Jan 22, 2021 • 59min
Designing and Investing in Web3 with Ian Lee and Reuben Bramanathan of IDEO
Please remember to rate and review our podcast! Ian Lee and Reuben Bramanathan are both part of IDEO Colab Ventures. Ian is the managing director at IDEO Colab Ventures and has been there since 2017, and Reuben recently joined IDEO as a general partner in January and has previously been active in the crypto space as an advisor and angel investor. We talk about IDEO Colab Ventures' founding story, the team's investment style, IDEO's mission to redesign and rethink web3 with founders, Ian and Reuben's thoughts on how to avoid costly decisions for startup founders, their excitement on social crypto, and more. Topics we've discussed include: 1) How did Ian and Reuben get into crypto investing? 2) What's IDEO's position around social crypto? 3) How is IDEO Colab Ventures a unique partner for founders to have? 4) How should teams think about the market for a crypto project? If you’d like to see more from them, you can follow them on Twitter -Ian @ianjohnlee and Reuben @bramanathan

Jan 15, 2021 • 55min
Guide to Investing in Algo Stablecoins and CF Market Makers with Dmitriy Berenzon of Bollinger Investment Group
Please remember to rate and review our podcast! Thank you :) Dmitriy Berenzon is a research partner at Bollinger Investment Group. He shares his journey as an investor, his learnings from his previous time at Coinfund. We also hear tips from Dmitriy for entrepreneurs to avoid making costly decisions, thoughts on the algorithmic stablecoins and constant function market makers, and more. Topics we've discussed include: 1) How to do diligence on a project and evaluate their discord channels and community. 2) Why fintech funds struggle to come into space? 3) What are Dmitriy's views on the algorithmic stablecoins and constant function market maker space? If you’d like to see more from him, you can follow him on Twitter @dberenzon Checkout his writing on Medium, https://medium.com/@dberenzon Posts that Dmitriy mentioned: Fork Defense Strategies https://newsletter.banklesshq.com/p/fork-defense-strategies-in-defi

Jan 8, 2021 • 1h
How to Angel invest as an Operator with Regan Bozman and Mike Zajko from FreeCo
Please remember to rate and review our podcast! For the show today, Regan Bozman and Mike Zajko from FreeCo, (short for Free company) came on to discuss how FreeCo came about, how to angel invest and get crypto founders to take small checks, Mike and Regan's growth journey as angel investors and more. Topics we've discussed include: 1) How did Mike and Regan make their first investment? 2) How can operators or individuals make angel investments in crypto? 3) What is FreeCo and how does it invest in companies? 4) Why would projects prefer angels instead of institutional crypto-money? 5) Learnings from Mike and Regan as investors in the last three years. If you’d like to see more from Regan and MIke, you can follow them on Twitter @reganbozman and @mikezajko

Dec 25, 2020 • 47min
Growth of Polkadot and Near Developers, Electric Capital's Data Driven Approach to Investing with Maria Shen
Please remember to rate and review our podcast! Maria Shen is a partner at Electric Capital. Maria shares the top takeaways from Electric Capital's 2020 Developer Ecosystem Report, highlights the biggest surprises to her from the report, Electric Capital's investment thesis, how she uses her past experience as an entrepreneur to make investment decisions and more. Topics we've discussed include: 1) How does Maria identify promising entrepreneurs based on her past experience as an entrepreneur? 2) Data that Maria wished she had that's not in the developer ecosystem report. 3) How Electric Capital utilize the results from the report for investment decisions. 4) Growth in developer ecosystems in Defi. If you’d like to see more from Maria, you can follow her on Twitter @MariaShen

Dec 19, 2020 • 1h 13min
Robot Venture Investments, Aave's Impressive Growth and Stablecoins with Tarun Chitra
Please remember to rate and review our podcast! Tarun Chitra is a partner at Robot Ventures. Tarun talks about how Robot Ventures came about, his thoughts on how Aave achieved its astronomical growth by identifying a new market of users, what Tarun looks for in an entrepreneur, along with stablecoins, Compound chain and more. Topics we've discussed include: 1) How did Tarun get involved in investing and joining Robot Ventures? 2) How does Tarun thinks about the size of the stablecoins market? 3) What does Tarun think about where defi is going? 4) The impressive growth of Aave and how to identify the next one. And basically everything else Tarunk thinks about. If you’d like to see more from him, you can follow him on Twitter @TarunChitra

5 snips
Dec 14, 2020 • 51min
Crypto Valuations and Returns, Slow Ventures' Thesis and VC Attitudes with Jill Carlson
Jill Carlson from Slow Ventures discusses attributes of successful entrepreneurs, portfolio construction, asymmetric value in fundraising rounds, and why traditional VCs are hesitant to enter the crypto space. They also explore challenges in crypto investing, the shift towards web three architecture, and the optimism needed in venture investing.

Dec 8, 2020 • 48min
Learnings from Benchmark, Community Product Fit and Great Investor Profile with Alok Vasudev of Standard Crypto VC
Please remember to rate and review our podcast! Alok Vasudev is the founding partner of Standard Crypto VC. Alok shares with us his time at Benchmark and how the investment frameworks and learnings apply in crypto, Standard crypto's portfolio and investment approach, the attributes of a great investor vs a good investor in the space and more. Topics we've discussed include: 1) what were some new challenges for Alok when transitioning to a crypto investor? 2) how does Alok think about the market size for a crypto project? 3) portfolio construction at Standard Crypto 4) what goes into deciding an investment if it's liquid? 5) in the eyes of an entrepreneur, what does Alok think separates a great investor from a good investor in crypto? 6) What are the top 3 key inflection points in the crypto industry in the next five years? If you’d like to see more from him, you can follow him on Twitter @alokvasudev.