Crypto VCF’s Mellett is Excited About the Transition from Web2 to Web3
I had the pleasure of interviewing Brian Mellett. Over his 30 year career, Brian has built a very unique combination of successful experience as a venture capital investor, strategic advisor, exited tech entrepreneur, and international growth strategist. He is an experienced technology consultant with a keen eye for scaling profitable companies in a variety of industries. In addition, Brian has built and sold two companies of his own. The second, a Web2 network, was acquired by a Fortune 200 company.
Presently, Brian has launched Crypto VCF and is Co-GP in it’s Blockchain Opportunity Fund. The fund provides investors with the full spectrum of exposure to blockchain digital asset equities with a focus on opportunities in Med Tech, Sports Tech, NFTs, Gamification, and Metaverse/Web3. In addition, they’re about more than financial returns; their investors will be invited to charity events benefiting education, medicine, and animal non profit organizations. The fund plans to begin deploying capital in Q123.
Thank you so much for joining us!
My pleasure! Thanks for the opportunity!
How did you break into tech investing?
I was introduced to Web1 as I began my career and I had an opportunity to build an internet company in Web2 so I’ve been in tech for quite a while. In addition to equity positions that I received as part of ownership in my companies and consulting, my wife and I have had great success with our personal investments in cryptocurrency, notably NFTs and tokens.
What is it that excites you about investing?
I am passionate about working with founders and investing is a vote of confidence in the concept, the team, their product or service, and their plan of execution. Investing enables me to “roll up my sleeves” and advise while also enjoying the upside that comes with successfully implementing the plan to scale.
What has been your biggest challenge when it comes to finding the “right deals”?
Thankfully, we have been blessed with a steady stream of quality deals to consider. Our fund’s focus is on Seed to Series A companies, so our biggest challenge is vetting the strength of the founding teams and their concepts. This happens to be a strength of our General Partners. Typically at this point in their evolution, there is not sufficient data to prove a product’s proof of concept and market acceptance so there is great volatility. Picking the winners is the nature of venture investing. Betting on companies based on their track record in the market comes later in Series A and beyond.
What major trends do you expect to see in technology innovation over the next 5 years that excites you?
The transition from Web2 to Web3 provides a tremendous opportunity for investors! The new “creator economy” will shift the control of data from major platforms to the creators of the content and the blockchain will enable them to benefit from their work in ways that were never available before.
I’m bullish on blockchain sectors such as NFTs, Gaming, Med-Tech, and infrastructure projects in Web3 and Metaverse. Blockchain is already disrupting numerous industries and I expect that to continue at greater speed over the next 5 years. As the Metaverse evolves, I expect great innovation over the next few years as we approach a critical mass of users. Global brands are leading the charge and the others will follow.
While the cryptocurrency market is down, from an investing standpoint, valuations are lower and are now based on solid business principles so there are great values in many projects. Similar to what I saw at the advent of Web2, the challenges present in the market will thin the herd and only the strongest companies will survive. This strengthens this digital asset class going forward.
If you had to share, “words of wisdom,” with a Founder who’s about to start their own startup, what would they be?
“Pursue your passion to solve real problems and the money will follow”
“Build a team that complements your strengths; no one succeeds on their own”
“Seek mentors and leverage the power of your network; the world is at your fingertips”
How can our readers follow you on social media?
LinkedIn is best; https://www.linkedin.com/in/brianmellett/
This was very insightful. Thank you so much for joining us!
