Updated: May 30, 2019
We took a list of Top 20 investors in the blockchain industry and plot them on two dimensions:
1) number of crypto companies
2) % share of the total portfolio.
Source: BQ Intel, Crunchbase
Observation #1 - Emerging pure crypto players
There is a new breed of investment funds that bet entirely on the success of the blockchain industry. They are pure players who are heavily reliant on in-house expertise and in-depth knowledge of the industry. Most of them are focusing on a few investments that would be their “big bets”. Only a few exceptions like Digital Currency Group and Blockchain Capital are adopting a more classical portfolio management approaching spreading the risk among many companies.
Observation #2 - Incumbent technology investors
Incumbent players are entering the game more carefully. They typically focus on a few companies, just enough to diversify their more classical investment portfolio. A notable player is Boost VC that seem indecisive where it wants to play.
Check the full version of Blockchain Quarterly (Q1 2019) report for more Insights.