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Hello readers,
Remember when teenagers ruled social media and adults always bemoaned how it was a waste of time? Last week, my grandfather excitedly showed me a meme of a bear trying to high five a man in a car, while its bear friends looked on.
It took me years to convince my grandfather to join social media, but it’s worked out for the better (I guess). But as older generations finally come to grips with a decade-old pastime, the kids have moved on to something more mysterious: the blockchain.
Tech VCs in Southeast Asia face the same generational hurdle in embracing the latest craze among millennials and Gen Z.
Despite the saviness of these investors, finding a way to put their money behind this disruptive phenomenon is a big ask. Traditional VC firms are playing it safe for now because backing crypto firms demands a different skill set and expectations. Add some regulatory uncertainty to that mix, and it’s clear to see why VC firms aren’t quite ready to dive into the deep end yet.
Meanwhile, crypto firms are keener on bringing in investors who have extensive connections within the crypto ecosystem, which might not be the strongest suit of typical VCs.
My colleague Ardi recently unpacked why blockchain players are struggling to win investor confidence. And while traditional VC firms are still wrapping their heads around the blockchain, crypto-native investors already have a game plan.
— Deepti
The Big Story
Are SEA’s tech VCs missing out on the crypto craze?
Despite crypto and blockchain technology gaining steam, Southeast Asia’s tech VC firms have been slow to jump on the bandwagon. Read more.
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