Since launching Multicoin Capital more than two years ago, we’ve sought to build a crypto-native, global-scale asset management firm.
Over the last 12 months, we’ve been thinking hard about how exactly we should grow the firm in order to build towards that vision. We determined that the most important initiative we could undertake was to develop a meaningful presence in Asia.
Crypto is a global, 24/7 market. But the distribution of talent, capital, and information is not homogeneous.
Information flow in crypto is structurally broken. In traditional markets, information is uploaded into centralized repositories that are searchable (e.g. Bloomberg). In crypto, no such analog exists (though a number of companies are striving to become the “Bloomberg for crypto”).
Excluding exchange data (e.g. price, volumes, order books, etc.), information in the US and Europe flows through Telegram groups, Discord groups, Medium pages, company blogs, Twitter, and the press. Meanwhile, in Asia, information flows through WeChat groups, Weibo, crypto-native social networks like Bihu and others, and to a lesser degree, the press.
Note the lack of overlap. This dissonance is further compounded by cultural, timezone, and language barriers.
We began our journey into Asia by launching a brand new website in April, coinciding with the Spring 2019 Multicoin Summit. Since then, we have translated our entire website—including a backlog of more than 50 blog posts—into Chinese and Korean. And we’re working on Japanese now.
Coupled with several trips to Asia over the course of the year, we’ve developed a much stronger network of relationships with the Asian press, translators, and other local service providers. We in turn make those available to our portfolio companies so that we can provide even more value to them.
This summer, we began searching for someone to lead our efforts in China and Asia more broadly. Today, we’re excited to share that Mable Jiang is joining Multicoin Capital as a Principal on the investment team based in Beijing.
Mable was previously working at Nirvana Capital, a respected cryptofund based in Beijing. Prior to that, she worked in strategy at Didi, and in investment banking at Citi in New York City. Mable has developed a strong reputation in the Chinese crypto community over the last couple of years as a great investor who can think deeply about strategy and opportunities, provide value to entrepreneurs, and help bridge the East-West information gap. She’s one of the most unique and thoughtful commentators in the space. You can follow her on Twitter.
Moving forward, Mable will spearhead our efforts in China and Asia more broadly. She’ll be leading new deals—both equity and tokens—and helping us capitalize on the structurally broken information flow for secondary-market investments. If you have a project, a deal, or information to share with her, she can be reached at email@example.com.
Crypto is inherently global in nature, and this represents our first major step towards becoming a global firm. We are incredibly excited to welcome Mable to our team.