The next wave of digital asset value creation will come from infrastructure that enables real-world utility, not speculative trading.
Three layers matter: performant settlement (chains that finalize in under a second at real-world throughput), compliant privacy (zero-knowledge systems institutions can actually adopt), and yield infrastructure that lets traditional capital operate on-chain without abandoning its risk frameworks.
Our portfolio maps directly onto those layers. We believe the distinction between 'crypto' and 'financial infrastructure' disappears within the decade—and we are positioned for the moment it does.