We partner with builders of the most important technologies of our era.
Most investors write checks. We become partners--with a capital P. We back new networks of value: novel protocols, complex capital structures, infrastructure that moves money and processes data.
We only do things where we can be among the very best. There's no reason to offer commodities.
Founded by Noah Jessop after he sold Honeyminer to Core Scientific and worked on Facebook's digital currency project. Our team has run critical infrastructure at Goldman Sachs, CME, and major early crypto institutions--plus AI compute at scale.
Some builders we've partnered with at their inception:
How we partner:
We like to invest as early as possible. We are fiduciaries first, operators second. As well as investing, we operate validators and infrastructure across major networks--for ourselves and some of the largest financial institutions and funds. We provide liquidity for new ecosystems. We connect founders to institutions that will actually use their products.
Links to public services: Cantonscan | Hyperliquid Archive RPC
Complex situations:
We buy distressed technology and infrastructure companies, sometimes from bankruptcy. We help founders navigate difficult exits and build new ventures from complex situations. The messier the situation, the more likely we can help.
Writing:
We share our analysis with partners quarterly and selectively share our perspectives on infrastructure, markets, and the projects we're involved in. Writing →
NEW: Venture Situations (June 1st, 2025)
Contact:
Forever time horizon. 10-year funds. We pick early with conviction and partner through uncertainty. We're based in Menlo Park and always looking for exceptional people who share our standards.