Multicoin Capital, a Texas-based cryptocurrency venture investment firm, announced the hiring of a former Google product manager to be one of its new investment Principals.
Tony Sheng Kyle Samani — according to the Blockchain and cryptocurrency investment firm’s managing partner — would enable the venture fund to secure new deals while maintaining the existing portfolio members according to an Oct. 1 blog post.
He also said that there is tremendous alpha to be captured in many ways since the crypto market is still at a very young stage. According to him, things are only getting interesting, summarizing:
“With all the right forms of capital— people, financial, social, service providers, and brand—we’re looking forward to our next stage of growth as a firm. We’ve made it from 0 to 1. Now to go from 1 to N.”
Dynamic blockchain investment
In recent months, Multicoin has made several contributions to notable funding rounds. The latest being this week when the firm alongside ConsenSys Labs and Winklevoss Capital helped Skale Network Ethereum-compatible firm to raise $17.1 million.
Multicoin had earlier on, in October 2018, led another Skale investments round where $9.65 million was contributed.
This year, as more attention continues to be focused on Bitcoin, blockchain investment might have dropped with as much as 60%.
Some of the crypto startups portfolio that Multicoin manages include Bakkt, Solana, Dfinity, and Helium.