Boris Revsin will oversee equity and crypto funds alongside Tribe Capital’s new $25 million crypto incubator.
Tribe Capital, a venture capital firm with over $1.5 billion in assets under management, has hired Republic Capital co-founder Boris Revsin as a managing partner that oversees equity and funds. cryptocurrency alongside Tribe’s newly announced cryptocurrency incubation program, Revsin told CoinDesk.
Revsin served as the chief investment officer of Republic Capital, a registered investment advisor with over $900 million in assets under management. He has led corporate investments in cryptocurrency companies Flipside Crypto, Robinhood, Avalanche, Polygon, and Dapper Labs, among others.
“There are two things that I am looking for. The first is to get a little closer to companies that are building in action, especially during a bear market. And I think the incubator… helps illustrate a bit of what we can do at Tribe,” Revsin told CoinDesk in an interview, explaining his decision to leave Republic Capital after four years.
Another factor is Tribe’s position as a larger brand with multi-asset funds in both equity and crypto markets and a multi-stage investment strategy, Revsin said.
According to the company, cryptocurrencies represent about 30% of Tribe Capital’s total assets. Portfolio companies include crypto exchanges Kraken and FTX, blockchain technology firm Ethereum ConsenSys and parent company CoinDesk Digital Currency Group.
Revsin’s role at Tribe Capital will include investing out of $400 million Venture Fund 3, expanding the crypto franchise with the existing team, and overseeing the new incubator program.
Tribe launched the Tribe Crypto Labs incubator earlier today, first reported by TechCrunch. The $25 million startup initiative will help the company partner with crypto developers and accelerate early-stage investments on the Cosmos ecosystem and layer 1 blockchains like Solana and Avalanche. .
Venture investments fell in the first half of the year due to the global bear market, which hit the crypto industry and investments particularly hard.
Revsin acknowledges that bear markets, from an investment perspective, provide better multiples and underlying value. On the crypto side of things, Revsin noted that the industry has experienced bear markets before, although the cycles get bigger and bigger as crypto companies grow larger.
“I think crypto has a lot of things to do. Revsin says the self-regulatory dream hasn’t reached the level it should have been. “Regulators are going to step in and do some good work and maybe some questionable work and then hope that all is resolved.”