Fifth Era/Blockchain Coinvestors Update #18
We are pleased to let you know that Wyre successfully completed its closing last week - oversubscribing the round against the original plan. The Wyre coinvestment opportunity was on a faster timetable than most and thanks to those of you who moved quickly to participate. Several of you have asked for more details on the Fifth Era coinvestment program process and how you can participate. Here is a quick overview.
Fifth Era Coinvestors Program
Fifth Era manages funds investing in select VC firms and a parallel coinvestment program. The funds provide unparalleled diversification into the equity of leading blockchain companies by investing in the best leading pure-play blockchain venture funds in North America, Asia and Europe. Investors in one or both of these funds are entitled to also see the coinvestment opportunities as are other accredited investors who go to www.fifthera.com and sign up for the program.
Selection Process
We monitor the portfolio companies of the VCs we are invested in for attractive coinvestment opportunities. These opportunities are filtered and prioritized based on:
The company has very good traction and is performing well relative to milestones and the business plan
There is a new round or round extension underway
At least one of the VCs is leading with new capital
We can coinvest into the round directly, on essentially the same terms and conditions as the other investors
The lead investors have completed comprehensive due diligence so we can rely on their work for our investment
We have enough time to share the opportunity with you, our investor circle, to gauge our collective interest.
On an exceptional basis, we may also include coinvestments into emerging or leading unicorns where we have direct Board or CEO relationships.
Investment Process
Our process is as follows:
When an attractive opportunity becomes available, we reach out to the company to confirm they will support a direct investment from our investor circle
We then let you know about the coinvestment opportunity and determine your level of interest, if any (soft circle)
If there is sufficient interest we create a series addendum to our Fifth Era Coinvestors multi-series investment vehicle
You then review the company documents and sign paperwork if you would like to proceed (hard circle)
We close the round.
In most cases we expect to have approximately four weeks to respond to each opportunity, however, the company and it's lead investors drive that timeline.
If you want to learn more, go to www.fifthera.com and sign up (accredited investors only) or contact us directly.
In the News
Fidelity Digital Assets released the results of an institutional survey that they conducted from late last year to early March. The results show that institutional ownership of digital assets is increasing significantly, with particular strong growth in Europe. Among other headlines, the survey revealed that 80% of institutional investors who responded see the appeal of digital assets, and 27% already own some. More coverage of the report can be found in Bloomberg and The Block.
We recommend checking out Stephanie Kelton's NY Times Op-Ed, "Learn to Love Trillion Dollar Deficits". Kelton puts forward the Modern Monetary Theory (MMT) argument that "the only economic constraint that currency-issuing states face in printing more money is inflation and the availability of labor and other material resources in the real economy." We continue to be perplexed by the MMT argument - but the reality of it is that we are already down the path of the experiment so we are all MMT'ers now we suppose.
Free ebook - The Fifth Era
Please accept our free book which details the nature of the transition the world is passing through, and forms the first part of our best selling books, Build your Fortune in the Fifth Era and Corporate Innovation in the Fifth Era. Click here to download: https://www.fifthera.com/ebook
Upcoming Webinars
Are part of your summer plans to further your education in blockchain technology investing? We can help! Join us for an upcoming webinar.
Now that we're halfway through the year, where do the Blockchain Inevitabilities we discussed last year stand? Join us as we identify how things have changed - or not - since our original webinar.
10 Blockchain Inevitabilities - Mid Year Update, July 13th, 7am PST
10 Blockchain Inevitabilities - Mid Year Update, July 13th, 12pm PST
Did you know about Fifth Era's robust coinvestment program? During this webinar, we'll further discuss our selection and investment processes to help you better understand how to participate.
Coinvesting with Fifth Era, July 20th, 7am PST
Coinvesting with Fifth Era, July 20th, 12pm PST
The world has changed in the last 4 months. But what does that mean for the future? In this webinar, we explore how the Covid-19 pandemic may have pushed us faster into the future.
How the Pandemic of 2020 Accelerated our Future, August 10th, 7am PST
How the Pandemic of 2020 Accelerated our Future, August 10th, 12pm PST
Our webinar library can now be found at www.fifthera.com/webinars.
Upcoming Events
July 7th & 8th - Global Investor Conference July
Digital assets are growing up. IPOs in the space expected as early as this year. Ripple has announced. Coinbase and others may follow soon.
Join the third Global Investor Conference
14 presenting companies over two days
Seven guest speakers
Three panel discussions
Come with your questions and your insight to add to our mindshare. Listen to the experts from Greg Kidd, first Chief Risk Officer at Ripple to JP Thieriot, CEO of Uphold to Nisa Amoils ,Managing Partner at Grasshopper and Forbes Contributor, to Michel Lee, Executive President at Hashkey ... and many more of Digital Assets' most influential people.
July 8: 6:00 PM to 10:00 PM Pacific Time for India, Australia, and the Far East (July 9th am)
Join us for one or both days. Use promo code "GICBC" for a discount at registration.
Recent Appearances
Please use the links below to access our most recent webinar and podcast appearances:
We recently posted our Fifth Era webinar on The Fifth Era at www.fifthera.com/webinars.
At the last Virtual Investor Conference, Matthew Le Merle had the opportunity - and pleasure - of interviewing Greg Kidd about early stage investing. Greg was an early investor and founder at Twitter, Square, Ripple, Coinbase, Robinhood, Uphold, Linqto and many others. Check out the virtual fireside chat to learn more about the best strategies to get in early.
Matt Walsh and Nic Carter are the General Partners of Castle Island which is one of our funds and is also backed by Fidelity and Highland Capital. They recently interviewed us for their own blockchain podcast series.
Stephanie Christopher, CEO at The Executive Connection (TEC), sat down with us to walk through the future of the digital economy in her podcast TEC Live - Business Leadership Insights.
Learn More
Also visit us at www.fifthera.com and www.blockchaincoinvestors. com to find more information and request our investor materials.
We thank you once again for your support, and we hope that in this challenging time you and your family and loved ones are staying safe and healthy.
Best wishes,
Alison Davis
Matthew C. Le Merle