Hey guys, thanks for the wait. Today, we’ll be hearing from Guillaume, our founder at Atato, and Oscar Ramos, the managing director at Orbit startups, on how to do Token2049 the right way from a VC perspective. We’ll like to make the session short and interesting especially for the web3 founders and members going to Token2049.
Structure of this Session
Oscar Ramos (General Partner, Orbit Startups):
Thanks for the invitation. It is great to have the opportunity to be here today to share my views. Currently I’m a general partner at SOSV and managing director of Orbit Startups. I came from a technology and founder background, starting my career in R&D and working with multinationals.
I later realised that the cool and interesting stuff that can create big change are happening in the startups. Since moving to China 16 years ago, I’ve worked with different startups building, growing and selling companies. I started my own startup 7 years ago when I realised I needed to get something hands-on.
12 years ago, I joined SOSV as a mentor and started full-time about 7 years ago to help add the experience of starting and scaling companies, having attracted and invested in more than 300 companies over the years. And I will like to share some of my experiences with you today.
Guillaume (Co-Founder, atato):
Oscar is very much respected because SOSV has made more than 1300 investments to-date and regularly stays ahead as the leading VC according to deals, and I’m sure today’s going to be interesting.
As for me, I started my career in Information Security where I worked for 10 years, including working as Chief Information Officer of a multinational company before starting Atato in 2018. Our goal is to bring blockchain to businesses and we’re currently doing that through our custody service which is a licensed custodian service.
We also provide wallets that are more advanced than your regular Metamask and Tezos and allow you to save and manage your crypto anywhere in the world. We look forward to meeting you at Token2049.
Guillaume Le Saint
Questions and Answers
1. What’s the fundraising environment like from both a VC perspective and a builder perspective?
- Fundraising is tough currently as visible from the numbers, but it is better in some regions than the others.
- There is a need for companies to position themselves strategically in order to attract the right investors. This means standing out and avoiding herd mentality.
- It is important to prepare for due diligence and the challenges that come with the nature of the business.
- Investors want to be assured of companies’ values and authenticity.
- If you’re just starting, pre-seed and seed, the valuation will be low and you must be ready for dilution. For example, AI has seen better investment than crypto this year.
- Knowing where to look and how to present yourself is very important.
- It can be difficult to raise Series B funding at the moment.
- Have the fundamentals and try to be at the right place at the right time.
2. Is Web3 building still on the up? Have you noticed any trends that are different to other crypto winters?
- I think bear markets are good as they help companies innovate and build products, and I can say we’ve made more progress compared to last year.
- The current economic condition is a general downturn and not just crypto market, which has made the bear market last longer.
- This is the best time to build new products because the resources are available and people are interested in creating new opportunities.
- Bear markets help to create reliable and adaptive alternatives to existing solutions.
3. Do you think more non-web3 businesses are incorporating crypto solutions more than before or it is still the same?
- There’s generally more awareness about the opportunities of web3 and that more can be achieved with the partnership of web2 and web3.
4. Token2049 – how important is it during the winter?
- Token2049 is the largest crypto conference in Asia where founders, builders, enthusiasts and members meet for the whole week.
- It is always an important place to be and offers different opportunities for investors, founders and customers.
5. What does a VC firm hopes to achieve when they go to Token2049?
- VC offers not only financial capital but also social capital and connection.
- It is a way for founders and builders to position themselves strategically for opportunities.
- Also a way to nurture relationships with existing partners.
6. atato will be attending Token2049 as a company. What would you like to achieve?
- We are looking for more growth and increased profitability
- Also to meet new partners and investors
7. How do you network within the community to find new partners/investors? And what channels do you use?
- Telegrams is the best as it is where most of the communication happens.
- X is mainly for creating and following up with announcements.
- People rarely open emails and you definitely won’t share personal contacts at crypto events.
- It is important to have a clear plan and the means to achieve them.
8. As a VC firm, how do you want to be approached at Token2049? Is there a specific way or channel?
- There are three stages of a conference: pre-conference, conference and post-conference.
- Reaching out to prospective partners ahead of the conference is very important as it helps you screen out uninterested prospects, while preparing the important materials needed for likely partners.
- Conferences offer a good chance for warm introduction and familiarity, and easy follow up afterwards.
9. Token2049 is not just about competing with founders for investment, it is also a way of making real connections. At atato, do you plan to approach folks at the event?
- It is basically about putting yourself in the shoes of the person you’re talking to. Where are they come from, whether they’ve attended Token2049 before, and what their interest is and so on
- VCs/Investors forget more than 80% of the people they meet at the event, so you have to make yourself standout and be memorable.
- Get details or contact through which you can follow up after the event.
- Ask questions and keep the discussion short. It’s an event and everyone will be busy.
- People often make the mistake of having wrong objectives at events.
- Keep your objective to two things: getting a contact and their willingness to follow up. If you can get more, it’s fine but be sure of these two
- Do not oversell yourself. Keep it short and special
10. Do you have actionable tips on how to do Token2049? Including finding the right event list or Telegram channels
- There are 100s of side events happening this week and you can find all of theme in the side event list. There’s also a Telegram group called Token2049 Official.
- The side event list is like a goldmine for who is who and where to go as a web3 founder. It provides the right avenue for defi founders to reach out to other founders, by selecting the event they are interested in.
- Make sure you join and apply to a host of side events to form meaningful connections.
Atato is also running a series of side events coming up on Thursday, 9:30 to 11:30, where over 20 VCs will be present. If you want to attend, feel free to sign up or go to our Twitter page for more information on how to join.
Questions from the Audience
- Farouk (Audience):
What roles do regulatory considerations play in the fundraising effort of blockchain projects?
- Regulation has become very important for startups and big companies
- While it can be difficult for big companies, it adds value and is therefore important.
How can more Asians and Africans participate in the web3 space? And when can VCs start considering these regions which are full of opportunities?
- I am based in Asia and I can say a lot of Asians are involved in our activities as partners and VCs. Also, there are investors in the space from North Africa building products for their markets.
- So there’s an existing emerging market and I believe it’s going to grow with time.
How do regulatory and compliance environments influence fundraising?
- Due to the recent downturn in the market, compliance is now the top of investors’ concerns unlike two years ago when they would ask for features and benefits.
- It is a good thing that everyone has now understood the importance of regulatory oversight.
- But despite this awareness and the regulatory framework available in some countries, there are still many unregulated players that are allowed to operate.
- I hope this will change in the near future.
And that wraps up our space for today. Special thanks to our speakers Oscar and Guillaume for sharing their insights. Thanks guys for listening and asking your questions, we hope this session was useful.
Atato custody, an all in one solution for your digital assets security
Atato custody, an all in one solution for your digital assets securityAdd any token, add any chain, MPC security, Dapps integration
TOKEN2049 is crypto event, organized annually in Dubai and Singapore, where founders and executives of the leading Web3 companies and projects can share their views on the industry
Event Type: Event
Event Attendance Mode: OfflineEventAttendanceMode
Event Status: EventScheduled
Performer Name: Guillaume Le Saint
Performer URL: https://atato.com/
Start Date: 2024-09-18 10:31
End Date: 2024-09-19 10:31
Availability Starts: 2024-09-18T10:31:26