Our guest is Henrique Centieiro, Senior Research Manager at Hashkey Capital, one of the largest web3 VC firms based in Asia, having recently raised $500M for their new fund. We explore how the web3 venture landscape has shifted in 2023 compared to 2022:
Hashkey's holistic research process, applied to over 3000 potential opportunities resulting in 100 investments last year
Deal flow, check sizes, velocity, and healthy momentum in early 2023
Highlights from Hashkey's 2022 DeFi Ecosystem Landscape Report, and why DeFi is an asymmetric opportunity
2023 outlook on new products, narratives, and developments across web3
"There is less hype in the market, there is less...FOMO, generally speaking right? During peak of bull markets, projects are like, "hey, we want to close these funding rounds within a week, and we have 10 VCs that want to invest." So if you want to invest, you have a week to decide. And at the moment things are slower. It doesn't happen like that. So at the moment the investment process is a little bit more rational with more research, with more due diligence. But again, we continue to invest and support good projects."
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