Distributed Global
Crypto venture fund investing in tokens and equity across blockchain infrastructure and applications.
These guys are crypto OGs who deserve more respect than they get. Steindorff and Waterman were running a crypto fund in 2014 when most VCs thought Bitcoin was for drug dealers, and the fact that Brevan Howard picked them to run their crypto allocation tells you everything about their institutional credibility. Four unicorns including Worldcoin and Axelar is a solid track record, but they're surprisingly low-profile for a fund with this much success. The lack of social media presence either means they're too busy making money to tweet, or they haven't figured out that founder marketing matters in 2025. Either way, if you're building crypto infrastructure, these are the type of investors who actually understand the tech.
- —Best for: Crypto infrastructure and tokenized protocol founders who want investors who truly get the tech
- —Watch out for: They're stage agnostic which could mean less focused support at your specific stage
- —Known for: Being original crypto believers with institutional credibility and a surprisingly strong unicorn hit rate
Distributed Global Fund II is a long-only, stage agnostic investor in protocols. They invest in the tokens of established protocols and in the seed and pre-ICO rounds of early stage protocols, looking for protocols that are well positioned to capture market share from centralized incumbents. The protocols they invest in share three common traits: they are tokenized, open source and decentralized.
Primarily Seed and Series A with 22 investments in Seed stage ($7.41M average) and 15 investments in Series A stage ($19M average). Investments spread across blockchain technology, fintech, and high tech — essentially any protocol or company building on tokenized, decentralized infrastructure.
Launched Focus Investments in 2014, one of the first crypto funds, making early investments in Bitcoin, Ethereum, Qtum, Augur, and Polychain Capital. His first fund significantly outperformed Bitcoin's 3-year 1000%+ rise and was inducted into Forbes Finance Council in 2017. Known for being an original crypto true believer and institutional pioneer.
Co-founded Focus Investments with Steindorff and is described as one of the earliest managers of institutional capital in digital assets. They've implemented a long-term value investing strategy that utilizes their expertise and asymmetrical information flow. Was selected by Brevan Howard to oversee their initial crypto investment — a serious credibility signal.
Listed as a founding partner but minimal public information available about his specific background or role within the firm.
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