While the overall crypto markets have been in a rough spot lately, web3 venture capitalists have never had more conviction — or more funding at their disposal — to back startups and teams building in the space. The big question on their minds is whether tokens and startup valuations have bottomed out, or if they need to wait a bit longer to score the best possible deal.
When to place your bets is a delicate balance in any tech sector, never mind one as rambunctious as crypto. That’s one reason why we’re stoked that Chris Ahn, partner at Haun Ventures; Michelle Bailhe, partner at Sequoia; and Tom Schmidt, general partner at Dragonfly will join us onstage at TC Sessions: Crypto on November 17 in Miami.
We’re looking forward to hearing Ahn’s take on how the regulatory landscape is evolving in crypto, both in the U.S. and abroad, and how web3 startups can effectively navigate political and legal uncertainty.
We can’t wait to hear Schmidt’s take on what it’s like to be an investor at a crypto-native VC firm as more traditional venture firms move into the space. Is Dragonfly as optimistic about the crypto market as it was last April when the VC firm closed its third venture fund to the (oversubscribed) tune of $650 million? Inquiring minds want to know.
Meanwhile, Bailhe brings valuable perspective — from her standpoint as a generalist growth investor at a venture firm that made its name in web2 — on how the web3 space is developing relative to the broader tech ecosystem.
We’ll be sure to ask all three panelists how their firms are navigating the competitive dynamics between crypto-native investors and tech VCs with broader mandates for the best web3 deal flow.
Chris Ahn, a partner at Haun Ventures, leads investments at both early and acceleration stages. Previously, Ahn was a partner at Index Ventures and led the firm’s crypto efforts, including investments in Fireblocks and Bridge.
Prior to joining Index, Ahn helped build and lead the strategic finance and business operations teams at GitHub, and he led the acquisition with Microsoft. Ahn also spent time at Hellman & Friedman and started his career at Morgan Stanley.
Michelle Bailhe, a partner at Sequoia, focuses on crypto, software and internet investments. She is involved with Sequoia’s investments in FTX, LayerZero, Fireblocks, Pilot and more. Prior to Sequoia, Bailhe worked at Hellman & Friedman, Google and McKinsey.
Prior to joining Dragonfly as general partner, Tom Schmidt led product at 0x, and he worked as a product manager at Facebook and Instagram. Schmidt holds a degree in computer science from Stanford.