‘We’re still early across the board,’ says CoinFund CIO

Published 1 minute earlier on

Episode 102 of Season 5 of The Scoop was recorded with The Block’s Frank Chaparro and CoinFund Chief Investment Officer Alex Felix.

Listen below, and subscribe to The Scoop on Youtube, AppleSpotifyGoogle PodcastsStitcher, or wherever you listen to podcasts. Please send feedback and revision requests to podcast@theblock.co.

Alex Felix is the Chief Investment Officer at CoinFund.

Back in July, CoinFund announced the raise of $158 million for a new early-stage crypto startup investment fund. 

In this episode, Felix explains how his firm is thinking about allocating the capital, and breaks down the institutional interest in early-stage crypto investing.

According to Felix, the market is still discounting web’3 full potential:

Almost everyone universally has under-appreciated, the size of the market opportunity for web3. It’s open source, it’s open competition — when we make this transition to web3 rails, it will be very hard to compete against for any web2 or other business model.”

This episode is brought to you by our sponsor, PayPal.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.