LongHash Ventures Partner: Funds for the fund and direct investments are running out, the entire market is bullish in Q4 this year and Q1 next year
ChainCatcher news, LongHash Ventures partner emmacui.eth shared insights on Token2049 and Solana Breakpoint on X.
Key points are as follows:
Funds and direct investment capital are drying up. Western general partners (GPs) are flocking to Asia for fundraising. Those unable to raise their next fund are seeking to change investment mandates to recoup capital. Funds are lowering their fundraising targets. The distributed capital return rate (DPI) for 2021 and subsequent years is very poor, while the multiple on invested capital (MOIC) is difficult to compare.
Infra fatigue is real. There are over 700 side events, most of which are infrastructure projects. Everyone is trying to figure out a granular narrative to distinguish themselves from other infrastructure projects in the same category.
Solana Breakpoint is refreshing. This event is filled with developers rather than BD personnel.
The entire market is bullish for Q4 2024 and Q1 next year. The main catalysts are interest rate cuts and the U.S. presidential election. We have already seen price movements after Token2049.
Reputation matters. As cryptocurrency matures, its surface area becomes larger. Investors/projects can conduct due diligence (DD) on specific founders/projects/investors in more ways. We are starting to see people put in more effort for DD before investing/hiring/joining projects. This is a sign of maturity.
