Our Thesis
Asymmetric Upside Opportunity

Blockchain protocols will continue to scale exponentially and take share across the largest markets in the world.

The Right Time

Adoption is happening much faster than commonly understood and there are few experienced investors in liquid tokens.

Investment Strategy

We apply and adapt proven investment principles to blockchain investing, identifying long-term fundamental value.

Investor Experience Icon
Investor Experience

We employ established practices in institutional security, fund administration, and risk management for an enduring partnership.

Our Research
Our Research
Synthetic Put on UST

How our risk principles, and the principle of fragility in particular, allowed us to pass on investing in Terra and create a synthetic put on UST.

Trader Joe logo
Trader Joe

Trader Joe's unique capital distribution model and high USDC dividend makes the token ('JOE') a mispriced asset in the Avalanche ecosystem

Our Research
Theia Blockchain Launches Liquid Token Fund

Theia Blockchain launched its inaugural liquid token fund, Theia Blockchain Partners. Theia is a research-intensive investment manager for blockchain assets focused on long-term fundamental value.

Synthetic Put on UST

How our risk principles, and the principle of fragility in particular, allowed us to pass on investing in Terra and create a synthetic put on UST.

Trader Joe logo
Trader Joe

Trader Joe, the market-leading decentralized exchange on the Avalanche ecosystem, has a unique capital distribution model and an attractive USDC dividend yield.

Our Research
Theia Blockchain Launches Liquid Token Fund

Theia Blockchain launched its inaugural liquid token fund, Theia Blockchain Partners. Theia is a research-intensive investment manager for blockchain assets focused on long-term fundamental value.