Richard Chen
@richardchen39
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Founder @VarrockVC. Previously General Partner @1confirmation. DMs open
Joined April 2016
I am excited to announce @VarrockVC, an oversubscribed $30M fund investing $600-900k in pre-seed and seed crypto founders!. We are fortunate to be backed by large institutions and family offices who are committed to being long-term partners.
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I think a big cause of VC groupthink is the desire to get short-term markups by your peers at bigger funds. Markups help with fundraising and getting promoted. So you learn to think like them. What I've learned is valuations tend to increase faster than companies are derisked.
It’s incredible how VC groupthink works. Seeing companies where a year ago they would not have gotten any offers above $20M post. Today they and all their competitors get bid up to at least $50M. Space hasn’t derisked either.
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RT @Dune: ¡Feliz Día de la Independencia, Argentina! 🇦🇷✨. Today, we celebrate freedom & ambition. It's now time to welcome the next era in….
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bye bye Christian Horny
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It’s incredible how VC groupthink works. Seeing companies where a year ago they would not have gotten any offers above $20M post. Today they and all their competitors get bid up to at least $50M. Space hasn’t derisked either.
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Surgery does to the atheist what a bank run does to the libertarian.
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Sinner > Musetti.Djokovic > Bublik.Fritz > Zverev.Alcaraz > Lehecka. Sinner > Djokovic.Alcaraz > Fritz. Alcaraz > Sinner.
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One of the dirty secrets of VC is the concept of "logo collecting.". Invest small checks in the hottest Series A or later rounds to give founders the perception that you're crushing it as a VC. But any smart LP will look at your concentration and ownership to calculate the.
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Welp just fractured my ankle playing tennis 🎾 so can’t travel for the next few months 🥲. DMs still open if you want to Zoom instead. Don’t make me install any DPRK malware.
Who's going to Permissionless 🇺🇸 and EthCC 🇫🇷? Would love to meet up!. DMs open.
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Who's going to Permissionless 🇺🇸 and EthCC 🇫🇷? Would love to meet up!. DMs open.
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BG^2 podcast would be much better off being BG^1. The 1 being Bill Gurley.
If you care about the state of high tech investing circa 2025, you may find this interesting. I cover all constituents - founders, VCs, LPs, ordinary investors, regulators, bankers. Something for all.
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CT perception is correlated with the number of deals the VC does. LP perception is correlated with the VC's concentration and ownership in these deals.
Obvious, but there is a huge gap between CT’s perception of VC quality and LPs’ perception.
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RT @SECGov: The American values of economic liberty, private property rights, and innovation are in the DNA of the DeFi, or Decentralized F….
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When building in a super obvious crowded space (e.g. anything stablecoins right now), there's two types of answers I like to hear from founders:. 1) Unique perspective/secret that everyone else is overlooking, or.2) Nothing unique. We're just better executors than everyone else.
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Down 2 sets and a break in the 3rd, saves 3 championship points in the 4th to win!!! 🤯
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For the first time since I started in this industry 8 years ago, I have a DPRK impersonator. Does that mean I've made it? 😂.
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