GD1 Investment Notes - Syndicate (Crypto Fund 1)

9.6.2022
Investor Notes
Crypto/Web3
(Co- Founders - Ian Lee and Will Papper)

I am very excited to announce GD1 Crypto Fund 1’s first investment into Syndicate’s US$6M strategic investment round. We join the cap table alongside other global investors including Andreessen Horowitz, Kleiner Perkins, Electric Capital and others.

Strategic round investors - Syndicate

Reshaping the future of investing

A core capability of crypto and web3 is the decentralisation of finance. While there have been many protocols and apps that have been built to address various aspects of finance like lending and money exchange,  Syndicate is building a platform specifically for the future of investing, and democratising access to one of financial services' largest areas, investing and asset management, which is a US$100+ trillion market.

Powering web3 investment clubs

Syndicate is revolutionising investing by changing how communities and capital work together using accessible, effortless and social web3 technologies.  Earlier this year, the team launched their first mainstream crypto-native social investing tool built on Syndicate Protocol, Web3 Investment Clubs. This tool transforms any Ethereum wallet into a powerful investing decentralised autonomous organisation (DAO) in seconds for just the cost of gas (transaction fees). 

Using Syndicate, peers, angel investors and web3 communities can structure investment clubs as a DAO transparently and effortlessly, as easy, in fact, as starting a group chat. Syndicate’s Web3 Investment Clubs can then jointly invest in tokens and NFTs—as well as off-chain startups and assets. They can also attach legal entities, open bank accounts and issue K-1s. 

3,000+ investment clubs launched as DAOs on Syndicate during the first four months of their public beta and Syndicate has become the ‘top of mind’ solution when it comes to forming investment clubs or DAOs. The team’s focus on building supplementary tools will only serve to strengthen the clubs’ experience.

The team behind the innovation 

Syndicate is co-founded by Will Papper (ex product manager at Proxy, Kleiner Perkins fellow, IDEO CoLab fellow) and Ian Lee (co-founder and investor at IDEO CoLab Ventures, ex-Head of Crypto at Citi Ventures). 

Both Ian and Will are key thought leaders in the DAOs and Investment Clubs space and have assembled a strong team to take on the challenge of democratising access to investing.  The wider team is 30+ strong, coming from backgrounds in leading web2 and web3 companies, including Meta, Bitski, BlockFi, Anchorage, Palantir, Amazon and Goldman Sachs.

A well-timed investment 

Market readiness, early traction and a talented team all make Syndicate a great investment for GD1.

AngelList and the rise of crowdfunding platforms like Republic demonstrate the demand by investors who would like to access alternative investment opportunities with relatively small cheque sizes. This is further demonstrated by the increase in retail investor activity due to the proliferation of stock brokers like Robinhood, Public.com and more locally,  Sharesies.

After having been in touch with Will and Ian since early 2021, we have seen their skill in shipping exceptional products, hiring and bringing decentralised investment tools to eager users. Will and Ian, along with the stellar team they have assembled, are the best in the space to be building a decentralised investing protocol.

Syndicate has incredible demand and traction and we are super excited to see the additional products and tools they are planning to launch come to life.

We’ve been blown away by all of our interactions with Ian, Will and the Syndicate team and couldn’t be more excited to be supporting them on their journey. 

If you’re also keen to join the movement - they are hiring across the board!

Written bY
Nawaz Ahmed

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