Times are hard for venture capital investors right now. But for VCs who’ve raised billions of dollars to invest in the crypto space, things are looking even tougher.
The way that crypto VC operates is full of quirks, one being that the presence of coins like Ethereum, Solana, and countless projects' tokens has added a liquid, and public, element to venture. Investors who bought into crypto tokens saw massive returns for their funds when those tokens were going to the moon—but as they came crashing back down to earth over the last year, those once-juicy returns are looking a little less ripe. The trouble is, for the unaccustomed limited partner, that can be a jolting ride.
