Welcoming Tony Sheng and The Next Steps For Multicoin Capital

October 01, 2019 | 2 minute read

Today I’m excited to announce that Tony Sheng has joined Multicoin Capital as a Principal on the investment team. With deep experience as a product leader at companies like Google, AltspaceVR (acquired by Microsoft), and Decentraland, he brings a unique, user-focused perspective to the firm and the ecosystem as a whole. He’ll be based in Los Angeles, and will be working on new deals and helping our existing portfolio companies.

Back when Tushar and I met at NYU 11 years ago, we bonded over our passion for high growth tech companies. The iPhone was new, and we were enthralled with opportunities that the iPhone would create. We debated things like whether RIM would survive, if Netflix could ever generate meaningful profits because of its dependence on studios, if SoLoMo (social/local/mobile) was going to be a big thing, if Groupon could ever be profitable, and more.

Tushar and I have had the good fortune to get to know Tony over the last 18 months. Our discussions with Tony about crypto have in many ways reflected Tushar and I’s discussions about tech a decade ago. The three of us have debated (and continue to) the opportunities for exchange tokens, layer 1 blockchains, the opportunity for crypto in gaming, the value of tokenizing securities, how to think about “how much and what types of decentralization are good enough?”, and more.

In that time, we invited Tony to speak at two of our Multicoin Summits, and Tony and I went skiing in Aspen earlier this year (Bonus: Tony is organizing a big crypto skiing trip this Winter… stay tuned).

We’ve gotten to know Tony very well, and have found him to be one of the most thoughtful, knowledgeable, and capable individuals we’ve ever met. Not only is he thoughtful, he can articulate his thoughts exceptionally well in writing. We’ve always found that concise writing is a sign of clear thinking, and Tony has demonstrated this in spades on his excellent blog.

The crypto market is still very young, and there is tremendous alpha to be captured in many ways. Things are only just starting to get interesting. With the all the right forms of capital— people, financial, social, service providers, and brand—we’re looking forward to our next stage of growth as a firm. We’ve made it from 0 to 1. Now to go from 1 to N.

Tony is helping us take a major step in that journey, and we couldn’t be more excited to welcome him to the Multicoin team.