Inspired by @ColeRotman and @BennettSiegel,
I ran the numbers on crypto Series A deals to find the companies that drove returns since 2011.
Power laws in practice:
The top 25% of companies--> 80% of returns.
The top 10% of companies --> 64%
The top 5 companies --> 59%
There were only 3 companies/networks (market-cap) worth more than 25B and only 1 company worth more than 100B
The companies that drove returns by year:
2011:
@blockchain led by @jeremysliew (@lightspeedvp)
@krakenfx led by @barendvandenb (@hummingbirdvc)
2013:
@coinbase co-led by @fredwilson (@usv) and @mickymalka (@RibbitCapital)
@circle co-led by @davidorfao (@generalcatalyst) and @JimBreyer (@Accel)
2014:
@StellarOrg led by @stripe (may be considered a seed)
2015:
@Ripple led by Li Feng (@IDGCapital)
2017:
@binance co-led by Fun City Capital, Black Hole Capital
@BITMAINtech co-led by @sinovationvc, @hsgcap, @IDGCapital
@NYDIG led by @alexferrara (@BessemerVP)
2018:
(1) @kucoincom co-led by Young Guo (@IDGCapital), @matrixvc, and Neo Global Capital
(2) @dfinity co-led by @cdixon (@a16zcrypto) and @kukulabanze (@polychain)
(3) @FireblocksHQ co-led by @giliraanan (Cyberstarts), Tom Banahan (Tenaya Capital), Davor Hebel (Eight Roads Ventures) and @edsim (MState)
(4) @dapperlabs co-led by @cdixon (@a16zcrypto) and @fredwilson (@usv)
(5) @hedera led by @DCGco
2019:
(1) @solana led by @KyleSamani (@multicoincap)
(2) @Mysten_Labs led by @AriannaSimpson (@a16zcrypto)
(3) @Consensys led by SK Group
(4) @Polkadot
(5) @cosmos led by @_charlienoyes (@paradigm)
2020:
@FalconXGlobal led by @skirani (@Accel_India)
@AvaLabs
2021:
@opensea led by @katie_haun (@a16zcrypto)
@Gemini led by @sjaitly (Morgan Creek Digital)
2022:
@0xPolygon led by @peakxvpartners
The firms and partners that led the Series As of the most unicorns since 2012:
1. @a16zcrypto | @cdixon, @AriannaSimpson
2. @paradigm | @matthuang, @_charlienoyes
3. @usv | @nickgrossman, @fredwilson
Honorable mention: @IDGCapital, a firm not as well-known as the above but has put up $$$ returns from investments in Ripple, KuCoin, and Bitmain.
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