R
Rob Hadick ＞|＜
@HadickM
Crypto venture has looked brutal since 2021. @HadickM points to Carta’s 2022 vintage data: even the 90th percentile sits at 1.68x TVPI with just 12% distributed. As capital markets mature, excess returns get competed away and crypto is no exception. t.co/12ocUr5sc8
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