Podcast Summary
In this episode of the Fundamentals podcast, John McNiff and Felipe Montealegre, the founders of Theia Blockchain, discuss their investment fund that applies the principles of prudent investing to blockchain. They delve into their investment strategy, the underwriting engine they’ve developed, and the theses behind their investments in GMX, Trader Joe, and Gains Network. They also discuss the challenges they face in the crypto space, including getting reliable data and dealing with regulatory overhang.
Key Takeaways
- Theia’s Founding Story & Overview: Theia Blockchain is a fundamentals-driven investment fund that applies the principles of prudent investing to blockchain.
- Theia’s Investment Strategy: Theia focuses on DeFi and uses a bottom-up approach to the market. They aim to outperform ETH as their index.
- Theia’s Underwriting Engine: Theia has developed an underwriting engine that helps them identify value in the market.
- Investment Theses: Theia has made investments in GMX, Trader Joe, and Gains Network, focusing on innovation and assets that return cash to investors.
- Challenges Faced by Funds in Crypto: The biggest challenges faced by Theia include getting reliable data, regulatory overhang, and fitting into the traditional templates of allocators who are not familiar with the space.
Sentiment Analysis
- Bullish: The founders of Theia Blockchain are bullish on the future of DeFi and blockchain. They believe in the potential of the industry and are excited about the level of innovation in the space.
- Bearish: No bearish sentiment was expressed in the podcast.
- Neutral: Theia Blockchain is neutral about the regulatory environment. They want the space to be regulated in a way that protects investors, but they find the current regulatory overhang to be frustrating.
