Why EV3 is Doubling Down on the Internet, and Crypto

From watching crypto seemingly collapse before our eyes a week after launching Fund I, to being de-banked for crypto exposure during our final close, our early days were defined by unusually high adversity and brushes with death. Every time, we bounced back harder and with deeper conviction that what we’re building matters. Deeply.

Today we’re more optimistic than ever about the future of crypto, markets, and the internet, and in the midst of the deep despair that seems to have struck crypto market participants, it felt like a good moment to share a bit more about what we believe, and why.

The world doesn’t need another megafund. It needs partners willing to fight alongside founders for ideas that incumbents can’t see, won’t believe, or wouldn’t dare to pursue. That’s why we built EV3.

After two years of trench warfare in the most esoteric corners of crypto, we’re more convinced than ever: the future of the internet will look nothing like its past. Our thesis is simple: we believe the Internet is unstoppable, and will continue to confound the Davos class of bureaucrats with its compounding reach and efficiency. The next decade will be dominated by peer-to-peer businesses organized online, and onchain.

The next generation of great companies won’t be built just on user-generated content, but on user-generated services. For twenty years, platforms like Facebook, TikTok, and even OpenAI scaled by harnessing what people create. For the next twenty, the biggest companies will grow by harnessing what people do—building new networks for telecom, energy, logistics, advertising, finance, and beyond by harnessing the scale of the masses. Given the complexity, many new networks will emerge that serve people better than conflicted incumbents, and capture immense economics by crowdsourcing supply and distribution.

These networks won’t just create profits. They’ll lower barriers, unleash productivity, and turn everyday people into infrastructure providers. They will allow people, not corporations, to capture marginal profits. A router turns an apartment into a data center. A battery turns a home into a power plant. An app turns a social media influencer into a media agency. The internet becomes the coordination layer for industries we’ve only begun to imagine. While we see this transition as inevitable, we think no part of it will be easy. Many of society’s systems will be rebuilt from scratch. Not everyone will be happy about this change. It will take time, maybe even a decade, to play out.

That’s why we’re proud to have world-class partners who see this future with us, and are experts at the long game. EV3 Venture Fund II is backed by leading Silicon Valley and private equity GPs, fund of funds, endowments, decacorn founders, and more. Special thanks to Cendana Capital, Theta, and CrossLayer— and to Micky Malka, Chris Dixon, Marc Andreessen, Matt Walsh and Nic Carter, without whom we wouldn’t be here. We’re also very excited to welcome new partners like Carpa, KWIA, and Reference Capital, all of whom have strong track records of backing young emerging managers.

We also owe our founders a special thanks. Raising a venture fund as 29-year-olds is pretty much an impossible feat without the backing of a strong community, and we’re beyond grateful for how our community went to bat for us. We look forward to continuing to repay the favor over the coming decades.

With our first fund, we got skin in the game. With our second, we’re stepping onto center field, doubling down on where we shine: ideation. We will lead pre-seed rounds with up to $3m, backing the dreamers and rebels with relentless ambition and motion.

From day one, we’ve held ourselves to principles forged for the long game: action over inertia, conviction over consensus, evolution over stagnation. We take advice from anyone, but orders from no one. We bet big on big ideas: when it works it works big, when it doesn’t it’s painful. But we win and lose together.

Our mission is simple: to move hell or high water to help the brightest and most capable talent solve problems that seem impossible, but matter deeply to society. To get there, we must reinvent what venture looks like for the builders of the open internet by moving faster, evangelizing further, and believing deeper than ever before. But the tools at everyone’s disposal give us so much more agency than any generation before us.

So fire your boss. After all, life is short. Why spend it building someone else’s dream?