VISARY.io - Investment Meditations

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Investment Thesis v3.0

Thesis Featured

Investment Thesis v3.0

In 2018, we first wrote about investing in technology during an era where populism was on the rise and how that may impact the direction of certain industries – from finance and crypto to AI, manufacturing, defense, and even space. In 2020, we wrote a follow up thesis covering this topic

Crypto, not web3

Crypto, not web3

In the last crypto bull market (~2019-21), "Web3" became a new marketing term for the crypto industry. This term was originally coined by the Web3 Foundation in the early days of Ethereum. Back then, web3 was not defined as a category and was less hyped. It did not

Fund Update — Q4 2023

Fund Update — Q4 2023

Previous quarterly update: Fund Update Q3 2023 Q4 2023 Portfolio Highlights Solana is up 35% over the past week, adding to its 2023 rally of better than 500%Exchange-traded products tracking the cryptocurrency saw $12 million in inflows last week, according to CoinShares.FortuneMarco Quiroz-GutierrezHut 8 and USBTC Announce Completion

A Shift to Liquidity

A Shift to Liquidity

The mandate of Visary Capital moving forward is a continued prioritization and growth of liquid-focused strategies. Our ability to perform across crypto, public equities, private credit, and other digital asset and DeFi strategies has contributed to our outsized results and growth over the last 6 years. VC investments have always

Fund Update — Q3 2023

Fund Update — Q3 2023

Previous quarterly update: Fund Update Q2 2023 Q3 2023 Portfolio Company Highlights thirdweb acquires Paperthirdweb, a San Francisco, CA-based provider of a Web3 development platform, acquired Paper, a San Francisco, CA-based embedded wallet creatorFinSMEsFinSMEsEmpowering Change: $15M in Series B Funding to Supercharge Anduin’s ImpactAnduin raised over $15M in Series

Thesis-Driven and More

Thesis-Driven and More

Visary Capital has always considered itself to be a thesis-driven investment fund as a foundation. Having a core investment thesis aids in more focused knowledge and qualification across specific and overlapping fields. There are also other principles that drive the fund that have always been applied to investment decisions, which

'Unprecedented'?

'Unprecedented'?

We are hearing the word 'unprecedented' often when describing this bear market. We are also hearing this word in traditional markets and we hear it in many current events and news headlines and even in modern science and history. There seems to be an attraction to the idea

Fund Update — Q2 2023

Fund Update — Q2 2023

Previous quarterly update: Fund Update Q1 2023 Q2 2023 Portfolio Company Highlights Unchained raises $60M to offer collaborative custody Bitcoin servicesMultisignature solutions eliminate single points of failure and mitigate counterparty risk — and a substantial raise for a Bitcoin company could boost their use.CointelegraphJoe HallPercent lands $30M investment to connect

The Mirage of Decoupling

The Mirage of Decoupling

There seems to be a blind spot in the crypto space when it comes to reasoning behind price action. There are many recent claims that crypto is decoupling as its own basket or a gold-like hedge to economic risk, but the reality is it's still behaving like a

Fund Update — Q1 2023

Fund Update — Q1 2023

Previous quarterly update: Fund Update Q4 2022 Q1 2023 Venture Investments Gamma (Seed, New) We were thrilled to connect with Jamil and Nick, the Founders at Gamma. Long before the recent take-off of Bitcoin NFTs and digital assets, they've had a high conviction bet building in this area.

Fund Update — Q4 2022

Fund Update — Q4 2022

Previous quarterly update: Fund Update Q3 2022 In Q4 2022 we made 2 pre-seed investments in stealth startups – one in crypto and one in AI. When these startups come out of stealth mode and announce, we will post more about them in following updates. We've also added a

Contagion Finale?

Contagion Finale?

This will be a brief note on our thoughts on future risk and potential market contagion moving forward (namely in traditional markets/equities). The biggest question we have right now is: Does this market cycle necessitate a larger market failure to reset the stage? While we believe that most of

What's Next For Crypto

What's Next For Crypto

"In this world, is the destiny of mankind controlled by some transcendental entity or law? Is it like the hand of God hovering above? At least it is true that man has no control, even over his own will." ~Berserk The fractal market thesis has almost fully played

The Poetic Cycle

The Poetic Cycle

During the decade+ long secular bull market ("the everything bubble"), crypto markets have experienced their own multiple intra-bull and bear cycles. We are now seemingly in uncharted territory, with crypto experiencing its first downturn in parallel to a broader macro bear market and monetary policy change. Anyone in

Fund Update — Q3 2022

Fund Update — Q3 2022

Previous quarterly update: Fund Update Q2 2022 Q3 2022 Venture Investments Comm (Seed, New) Comm is bringing federated keyserver architecture to encrypted communications apps with a focus on serving crypto-native teams. Right now, the crypto space is heavily reliant on Discord and Telegram, which are not web3-native and have centralized

Fund Structure and History

Fund Structure and History

This is a requested blog post and question we receive often, and figured it was a good time to officially break down the fund's structure and history. Since it's inception, Visary's fund structure has always been proprietary, in-house capital. Despite interest over the years

Fund Update – Q2 2022

Fund Update – Q2 2022

Below are Visary Capital's venture investment and crypto updates for Q2 2022, along with our market outlook and analysis.

It's Not Different This Time

It's Not Different This Time

These markets are fractal, the supercycle was a farce.

Fund Update – Q1 2022

Fund Update – Q1 2022

Below are Visary Capital's venture investment and crypto updates for Q1 2022, along with our market outlook and analysis.

The WoW:Crypto Pipeline

The WoW:Crypto Pipeline

As we explore more gaming opportunities for the fund as it relates to crypto, I can't help but often think about my time playing World of Warcraft (WoW) as part of the journey that led me here. When people ask me how I got into crypto in 2015,

Closing the Year: Crypto Fund Update – Q4 2021

Closing the Year: Crypto Fund Update – Q4 2021

Our strategy for the second half of 2021 was primarily focused on re-balancing longer term crypto investments, adding to our core positions, and focusing on building a healthy cash position to derisk and make more net new investments. In October and November, the crypto market hit new all-time highs and

Venture Fund Update – Q4 2021

Venture Fund Update – Q4 2021

Below are Visary Capital's venture investments and highlights for Q4 2021. You can view the previous Q3 2021 update here [https://www.visary.io/q3-2021/]. Boost [https://boo.st/] (Net New, Pre-Seed) Boost is looking to re-invent the barcode, make it programmable, and bring it omnichannel across social.

Portfolio Company Staked: Acquired by Kraken

Venture Featured

Portfolio Company Staked: Acquired by Kraken

"Crypto exchange Kraken said that the acquisition of Staked was one of the largest crypto industry acquisitions to date"

Why We Invested in Turing, The Talent Cloud

Why We Invested in Turing, The Talent Cloud

We first invested in Turing's seed round in early 2019. We have been proponents of distributed teams for over a decade, particularly given our backgrounds in open-source software. In the enterprise world, this trend started with sales reps being able to work remotely in their local territories, just

DAO Utopianism

All utopianism eventually meets its reality. Whether the Soviet Union, Modern Monetary Theory, or radical government spending policies like the "Green New Deal," harsh objective truths in economics, physics, energy, human nature, etc. always come to the surface. The blunt truth about flat organizations is no different. DAOs