Backing foundersand resilient protocolsfor interconnected markets.
A venture firm backing visionary foundersand resilient protocols buildingthe future of interconnected markets.
We invest where technology, finance and infrastructure meet — the intersection where network effects drive exponential potential.
Our framework is built for clarity in chaos: structured, adaptive, grounded in second-order thinking. We don't chase momentum. We take calculated risk when it is earned.
Technology
We back systems that compound.
Software, protocols and networks whose value grows with participation rather than with spend. The technology must be the moat, not the marketing.
Node A — originFinance
Markets are the substrate.
Liquidity, incentives and price are first-class design constraints. We understand how capital actually moves before we decide where to place it.
Node B — connects to AInfrastructure
What everything else stands on.
Settlement, compute, data — the parts of the stack where resilience is the product and downtime is the only unacceptable outcome.
Node D — connects to A, BNetwork effects
Exponential potential lives where the lines cross.
We look for where connections, not features, create defensibility — and where each participant makes the next one more likely.
Node E — the centreSecond-order thinking
What happens after what happens.
Structured and adaptive. We position for the consequence rather than the headline.
Node C — reaches the edgeCalculated risk
Sized so that being wrong is survivable.
We don’t chase momentum. Risk is taken when the framework says it has been earned.
Node F — closes the networkThirty-six positions. One network.
What we are trading.
Notes, positions and second-order questions, published as they occur to us on X. Unedited, in order.
Follow on X→Occasional, never frequent.
A letter when we have something to say about markets, networks and the positions we hold. No cadence. No noise.