This article directly stems from the research process for our crypto single family office database. Our list of global cryptocurrency focused single family offices includes the most important family investment vehicles that invest in cryptocurrencies, DeFi, Web3 and further ventures and projects.
Cryptocurrencies at first seemed very attractive to people new to the investment scene: If you had invested $1000 in Bitcoin (the most famous cryptocurrency) at the beginning of 2011, you’d have $100M today. A massive increase in such a short time. Cryptocurrencies were at their all-time highs at the end of 2017. Many people got in during that time where the price of Bitcoin was around $18.000, sometimes they even sold their houses and belongings because predictions were positive. Just one year later the price had fallen down to $3000: they lost everything. Economists and financial experts state that the financial bubble related to cryptocurrencies had burst. Nevertheless, cryptocurrencies and its blockchain technology are still interesting to some of the most important investors out there: single family offices. We are introducing you to three interesting cryptocurrency-investing family offices from our extensive database of single family offices located in the United States with more than 350 entries.
Yeomans Capital, Austin
The Texas-based single family office, which is also featured in our list of single family offices in Texas, is one of the most active early-stage investors in the space of blockchain. The investment firm is owned by David A. Johnston. The startup advisor and technologist bought his first Bitcoins in 2012, where most of his fortune comes from. Just one year later he founded “BitAngels” with some friends, one of the world’s first and largest Angel networks to invest in the blockchain industry. Last year he established his single family office “Yeomans Capital”. The investment company seeks to invest in startups that deal with open source, user owned and tokenized blockchain technology. An exemplary portfolio investment is “Vertalo”. Vertalo is an investor onboarding, cap table, and compliance platform that connects issuers and investors directly to sources of secondary liquidity. Working directly with issuers, or through the growing network of broker-dealers, Vertalo enables any asset to be tokenized, stored in a blockchain wallet, and traded in real-time based on the smart contract between the issuer and the investor. Furthermore, Yeomans Capital holds “Ethereum” and “BitcoinCash” in its wallet.
Winklevoss Capital, New York
The investment vehicle of the Winklevoss Twins, Tyler and Cameron, was founded in 2012 and focuses mainly on early-stage venture capital investments. Targeted areas are internet technology, platforms, retail, fintechs and of course: cryptocurrencies. The Winklevoss brothers studied at Harvard and Oxford and are known to be famous entrepreneurs and venture capitalists. In 2004 they sued Mark Zuckerberg for stealing the idea for Facebook from “ConnectU”, a social network founded by the brothers. The lawsuit ended out of court with Zuckerberg paying $65 million to Tyler and Cameron. Another company founded by the twins is “Gemini”. The firm provides a next-generation cryptocurrency exchange platform and custodian that allows customers to buy, sell, and store digital assets. The single family office Winklevoss Capital, as part of our database of single family offices in New York, owns Ethereum and Bitcoin. A company, which the family office recently funded is “BlockFi”. The firm operates as a secured non-bank lender that offers USD loans to cryptoasset owners who collateralize the loan with their cryptoassets. Its products bring additional liquidity to the blockchain asset sector and meet the needs of both individuals and institutions holding blockchain assets.
Galaxy Investment Partners, New York
The single family office of Michael Novogratz focuses on digital assets and blockchain technology. A huge part of Novogratz’s fortune, who is a former hedge fund manager and partner at Goldman Sachs, is contributed to cryptocurrencies. He stated in 2017 that 20% of his net worth was due to investments in Bitcoin and Ethereum and that he has made $250 million from cryptos from 2016 to 2017. In 2018 he wanted to pursue his success and founded Galaxy Digital, a digital assets merchant bank, with distinct trading, asset management, and principal investment. Last year, Galaxy Investment Partners invested in “Flipside Crypto”. The company provides analytics and business intelligence to crypto organizations. With its analytics tools companies are able to obtain insights into user behaviors, developer activities and financial activities.
Other articles that might be interesting to you:
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- List of 5 US Single Family Offices of Hedge Fund Billionaires
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