Inside the Hutt

In this episode of Inside the Hutt, Brooke Pollack interviews Thomas Klocanas, Managing Partner at Strobe Ventures. Thomas walks through his path from traditional finance to early roles in the crypto space, including his time at Consensys and White Star Capital, before launching BlockTower Ventures and eventually spinning it out into Strobe. He and Brooke explore Strobe’s transition to independence, its investment strategy across tokens and equity, views on real-world assets and crypto infrastructure, and what differentiates Strobe in a crowded VC market. They also unpack token models, equity vs. token value capture, and his perspective on emerging DeFi trends.  Key Points From This Episode:  Thomas Klocanas’ background in investment banking and entry into crypto via equity research in 2014. Early operating experience at Consensys and shift to venture investing at White Star Capital. Launching BlockTower’s venture arm and the strategic decision to spin out and form Strobe Ventures. Overview of Strobe’s investment strategy, focus sectors, and fund structure. Importance of a measured deployment pace, thematic specialization, and founder relationships. Views on regulatory clarity and how it has affected deal flow and geographic concentration. Investment flexibility across equity and tokens, including public token exposure. Breakdown of key themes: real-world assets, crypto consumer, lending protocols, and alt assets. Perspective on current market dynamics: distribution vs. innovation in DeFi. Explanation of perps and the thesis behind Architect’s expansion beyond crypto. Strobe’s early bets on stablecoins and strategy around timing and infrastructure vs. issuers. Evaluation of DATs used by portfolio companies like Ethena. Discussion on the future of token design, network equity, and token-equity convergence. How Strobe helps portfolio companies through strategic introductions and partnerships. The value of the Strobe Summit as a strategic in-person event to build connections. Thomas’s contrarian prediction: skepticism on tokenized single stocks as a near-term theme. Insights on TradFi adoption of crypto rails and backend infrastructure upgrades. Fundraising predictions: challenges ahead for some crypto VCs and the benefits of smaller fund sizes. Spotlight on portfolio company TYB and its consumer engagement and loyalty infrastructure. Thomas shares his alternate career path aspirations in fintech — and dream of being a soccer player.  Links Thomas Klocanas on LinkedIn: https://www.linkedin.com/in/tklocanas Strobe Ventures: https://strobe.fund/ Brooke Pollack on Twitter: https://twitter.com/bhpollack Brooke Pollack on LinkedIn: https://twitter.com/bhpollack Hutt Capital: https://www.huttcapital.com/ 

In this episode of Inside the Hutt, Brooke Pollack interviews David Gan, founder of Inception Capital. David discusses his journey from investment banking to crypto, including his time at Huobi and the launch of Inception Capital. He breaks down Inception’s two-pronged model—a venture fund and a fund of funds—highlighting their early-stage strategy, cross-border support, and commitment to backing emerging managers. The conversation also explores tokenization, Asia's evolving crypto landscape, exchange listings, and how David's experience and global network help founders scale across markets.Key Points From This Episode:David Gan’s professional background and time at Huobi.Founding Inception Capital and its evolution from Huobi Capital.Structure of Inception’s two funds: early-stage venture and fund of funds.Strategy behind taking GP stakes in emerging managers and scaling them.David’s investment focus on infrastructure, financial services, and tokenization.Insights on helping U.S. startups expand into Asia and vice versa.Overview of key Asian crypto markets: China, Korea, Japan, Vietnam, Indonesia, and Singapore.Commentary on China’s restrictions and Hong Kong’s role in regional crypto.Geographic differences in crypto product development between Asia and the U.S.Tokenization trends, regulatory progress, and increased global access to financial products.Growing founder activity in New York’s crypto ecosystem.The importance of exchange listings and the evolving landscape of centralized vs. decentralized platforms.Current token valuation dynamics and the impact on venture investing.Community-driven public token sales like MegaETH’s conviction round.Early traction and developer activity in the MegaETH ecosystem.Investment highlights in projects like World Capital MarketsFramework for backing emerging fund managers and criteria Inception looks for.Advantages of smaller, nimble funds and strategic synergy with Inception’s core strategy.David’s alternate career dreams and how poker introduced him to Bitcoin.LinksDavid on Twitter: https://x.com/DavidGan1818Inception Capital: https://www.inception.capital/ Brooke Pollack on X: https://x.com/bhpollack Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/ Hutt Capital: https://www.huttcapital.com/

In this episode of Inside the Hutt, Brooke Pollack interviews Jim Parillo, Managing Partner of Figment Capital. Jim shares his unconventional journey from CPA and tax advisor at KPMG to leading an early-stage crypto venture fund. They explore the evolution of Figment Capital from its infrastructure-focused roots to its current emphasis on application-layer investments. The discussion covers Jim's investment philosophy, thoughts on emerging infrastructure trends, navigating ecosystem bets, and his views on overrated and underappreciated areas in crypto today. Jim also highlights portfolio companies he's excited about and reflects on lessons learned building the firm.   Key Points From This Episode:  Jim Parillo’s background, starting in tax at KPMG before transitioning to Figment Capital. The origins and evolution of Figment Capital from a validator-aligned fund to an independent early-stage VC. Strategic shift from infrastructure to earlier-stage application-layer investments in fund two. The team’s approach to investing primarily at the pre-seed and seed stages. Insights into portfolio construction and avoiding mandate creep by focusing on private, early-stage deals. How Figment Capital assesses ecosystem risk when backing applications on emerging L1s and L2s. Discussion on valuation dynamics and deal flow advantages in emerging blockchain ecosystems. Reframing what "infrastructure" means today, with focus on middleware and liquidity-enabling tools. Examples of innovative infrastructure bets like Predicate and liquidity tools for prediction markets. Views on overhyped trends (e.g. hyper-gambling) vs. underappreciated ones (e.g. long-term wealth creation). Reflections on the effects of degeneracy culture and short-termism in crypto investing. Key lessons for emerging managers: team importance, process discipline, and avoiding idea-over-team bias. Portfolio highlights including Monad, MegaETH, Fact Machine, Euphoria, Legend Trade, Fastlane, Pair Protocol, and Asula.  Links Jim Parillo on LinkedIn: https://www.linkedin.com/in/jamesparillo/  Figment Capital: https://www.figmentcapital.io/   Figment Capital on X: https://x.com/FigmentCapital Brooke Pollack on X: https://x.com/bhpollack  Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/  Hutt Capital: https://www.huttcapital.com/ 

In this episode of Inside the Hutt, Brooke Pollack speaks with Jesse Walden, founder of Variant, a seed-stage crypto investment firm. Jesse shares his journey from founding Mediachain to launching Variant, highlighting his focus on the ownership economy and regulatory clarity in crypto. He explains Variant’s barbell strategy of early-stage and liquid investing, insights on vertical integration, and their team’s legal-forward approach. Jesse also covers evolving opportunities in DeFi, NFTs, and why he believes crypto is still early in its adoption cycle—especially in the U.S. market.Key Points From This Episode:Jesse Walden’s background, founding Mediachain, and transition from Spotify to A16Z.Founding Variant and its origin as a seed-focused crypto fund with a distinct ownership thesis.Variant’s evolution, team structure, and strategic decision to remain lean.Importance of legal and regulatory infrastructure, including internal policy expertise.Original ownership economy thesis and how it’s held up over time.Regulatory shifts in the U.S. and potential impact of the market structure bill.Founder behavior in anticipation of upcoming SEC rulemaking.Liquidity strategies and long-term approach to token investments.Current investment themes across DeFi, infrastructure, AI, and consumer.Investment logic behind L1s and L2s, and vertical integration trends.Thoughts on corporate players launching blockchains (Stripe, Coinbase, etc.).Investment in Blockaid and the opportunity in crypto security.Hype vs. reality in categories like prediction markets and stablecoins.Why DeFi remains underappreciated despite stablecoin traction.Long-term vision for NFTs and their infrastructure layer role.Jesse’s views on competition, Variant’s positioning, and platform differentiation.Ongoing importance of policy support even with regulatory clarity.LinksJesse Walden on LinkedIn: https://www.linkedin.com/in/jessewalden Variant: https://variant.fund/ Brooke Pollack on X: https://x.com/bhpollack Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/ Hutt Capital: https://www.huttcapital.com/

In this episode of Inside the Hutt, Brooke Pollack welcomes back Joe Eagan, co-founder of Anagram and the podcast’s very first guest. Joe shares how Anagram has evolved from a two-person operation to a 25-person holding company and crypto venture platform. He explains their build-first strategy, the firm’s emphasis on composable synergy between building and investing, and the structure behind their asset management arm. Joe also discusses recent spin-outs like Glider, Swig, and Breeze, reflects on the firm's approach to engineering-led ideation, and addresses the growing role of Solana within their portfolio. The conversation closes with thoughts on crypto treasury plays, regulatory shifts, and the firm’s outlook as a holding company with permanent capital.Key Points From This Episode:Joe Eagan’s background and the early days of Anagram.Anagram’s thesis: pairing human and financial capital for crypto investing and building.Structure of Anagram’s 25-person team, including asset management, investment, engineering, building, and talent teams.The evolution of Anagram’s internal build process and emphasis on rapid iteration.Overview of projects like Glider, Swig, Breeze, and the firm’s Solana validator.Strategy behind internal product development and its relation to supporting portfolio companiesThe value of engineering-led ideation and bottoms-up product creation.Examples of internal tools and spin-outs powering Anagram’s flywheel.Role of Lily Liu as co-founder and her involvement with Solana Foundation.Why Anagram remains chain-agnostic despite a strong Solana footprint.Overview of Anagram Asset Management and its three crypto-focused funds.Unique structure of short-duration, niche venture funds to match crypto’s pace.How Anagram Liquid Ventures mirrors its venture strategyThe rationale behind running a holding company instead of a traditional VC fund.Joe’s thoughts on long-term investor adoption and why skepticism still exists.LinksJoe Eagan on LinkedIn: https://www.linkedin.com/in/joseph-eagan-22531577Anagram: https://www.anagram.xyzAnagram on X: https//x.com/@anagramxyzBrooke Pollack on X: https://x.com/bhpollack Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/ Hutt Capital: https://www.huttcapital.com/

In this episode of Inside the Hutt, Brooke Pollack interviews Serge Kassardjian, co-founder of Sixth Man Ventures. Serge recounts his journey from early stints at Google and Sony to founding StayTuned and later co-launching Sixth Man Ventures. He discusses the firm’s investment focus on crypto applications, their early conviction in NFTs and Solana, and how the team approaches building with founders. Serge also unpacks market trends, token and equity dynamics, and the evolving sophistication of crypto founders, while offering insight into standout portfolio companies like Pump.fun and Sleepagotchi. Key Points From This Episode: Serge Kassardjian’s background and path from Google and Sony to founding StayTuned and Sixth Man Ventures.  How Sixth Man Ventures began with NFT trading and a small experimental wallet fund.  The firm’s focus on application-layer investments in both consumer and enterprise crypto use cases.  Why Sixth Man Ventures is chain-agnostic, despite early success in the Solana ecosystem.  Strategy around liquid token investments and preference for long-term theses over short-term trading.  Views on opportunities beyond financial use cases, including gaming, DePIN, collectibles, and RWAs.  Approach to evaluating projects like Pump.fun and conviction-driven investing.  Thoughts on the current state of the crypto venture market and signs of increasing regulatory clarity.  Comparison between crypto VC and traditional VC in terms of liquidity, M&A, and overall returns.  Perspective on investing across tokens and equity and the impact of IPO and token unlock trends.  Serge’s investment focus areas within the firm, including speculative apps, content, and gaming.  Insights into portfolio companies Sleepagotchi and Hogg, and their novel approaches to crypto use.  Why disciplined capital deployment and founder-fit remain key differentiators for Sixth Man Ventures.  Observations on founder quality in crypto and evolving investor behavior in the space.  Serge’s alternate dream career: basketball podcaster. Links Serge Kassardjian on X: https://x.com/sergekass  Serge Kassardjian on LinkedIn: https://www.linkedin.com/in/sergekass/  Verda Ventures: https://6thman.ventures/  Brooke Pollack on X: https://x.com/bhpollack  Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/  Hutt Capital: https://www.huttcapital.com/ 

In this episode of Inside the Hutt, Brooke Pollack interviews Alex Witt, founding general partner of Verda Ventures. Alex shares his path from traditional finance and crypto mining in China to launching Verda, a stablecoin infrastructure fund focused on emerging markets. The discussion explores Verda’s strategic partnerships with Tether and MiniPay, the evolving role of stablecoins in cross-border payments, and how regulatory developments and geopolitical dynamics are shaping the future of stablecoin adoption.Key Points From This Episode:Alex Witt’s background in traditional finance and early crypto ventures in ChinaHis transition to Silicon Valley and the founding of Verda Ventures and APFVerda’s focus on stablecoin infrastructure in emerging marketsStrategic partnerships with Tether and MiniPay to support portfolio companiesThe utility and impact of stablecoins in cross-border commerce and remittancesDifferences in stablecoin adoption across the U.S., Europe, and the Global SouthRationale for USD dominance and expectations for non-USD stablecoin growthHow stablecoins support U.S. dollar dominance and treasury demandInvestment opportunities in stablecoin infrastructure and cross-border railsRegulatory clarity in the U.S. and its implications for Circle and big banksOutlook on Ethereum as the foundational blockchain for stablecoinsRole of Tether and MiniPay in Verda’s investment and growth strategyFuture trends in stablecoin adoption: FX usage and private B2B transactionsGeopolitical implications of stablecoin use in unstable currency regionsProjections for global stablecoin supply over the next decadeMarket impact of Circle’s IPO and Stripe’s stablecoin-related M&A activityExit dynamics and acquisition appetite from major fintechs and banksAlex’s hypothetical career path outside crypto and techLinksAlex Witt on X: https://x.com/alexlwitt Alex Witt on LinkedIn: https://www.linkedin.com/in/alexwitt Verda Ventures: https://verda.ventures/ Brooke Pollack on X: https://x.com/bhpollack Brooke Pollack on LinkedIn: https://www.linkedin.com/in/brookepollack/ Hutt Capital: https://www.huttcapital.com/

In this episode of Inside the Hutt, Brooke Pollack interviews Jason Kam, founder of Folius Ventures. Jason shares his journey from traditional finance to launching a hybrid crypto hedge fund, focusing on both liquid and private investments with a strong presence in Asia. He explains the structure of Folius, his evolving views on fund models, the importance of flexibility in crypto investing, and the challenges of navigating the Asian founder landscape. Jason also introduces BidClub, a platform to improve idea-sharing and transparency in liquid token investing.Key Points From This Episode:Jason Kam’s background in investment banking and hedge funds before entering crypto.The launch of Folius Ventures and its hybrid fund structure.Why Jason prioritized APAC and Chinese founders for early investments.The rationale behind Folius’ mix of liquid and private investments.Views on the advantages of a permanent capital or HoldCo structure in today’s market.Jason’s approach to diligence for liquid vs. private crypto investments.Observations on crypto regulatory landscapes in Asia and challenges for Chinese founders.Sectors Folius is focused on: trading, stablecoins, and asset issuance.Discussion on token governance, transparency, and long-term fundamentals in liquid markets.Overview of BidClub and its role in surfacing investment ideas for liquid tokens.LinksJason Kam on LinkedIn: https://hk.linkedin.com/in/jason-kam-35080625Folius Ventures: https://www.folius.ventures/BidClub: https://www.bidclub.io/ Brooke Pollack on Twitter: https://twitter.com/bhpollackBrooke Pollack on LinkedIn: https://twitter.com/bhpollackHutt Capital: https://www.huttcapital.com/Jason Kam on Twitter: https://twitter.com/MapleLeafCapBidClub on Twitter: https://twitter.com/BidClubio

In this episode of Inside the Hutt, Brooke Pollack speaks with Andy Kangpan, co-founder of Metalayer Ventures. Andy shares his journey from ff Venture Capital and Two Sigma to founding Metalayer, a firm focused on the future of finance moving on-chain. The conversation explores Metalayer’s investment thesis, the evolving crypto infrastructure landscape, and what Andy believes are the most exciting opportunities across stablecoins, market infrastructure, and asset tokenization. He also discusses the firm’s data-driven sourcing platform, founder support strategy, and broader views on DeFi and blockchain adoption.Key Points From This Episode:Andy Kangpan’s career path from ff Venture Capital to Two Sigma and into crypto.The origins of Metalayer Ventures and its spinout from Two Sigma.Metalayer’s thesis: the global financial system will be on-chain within the next decade.Breakdown of Metalayer’s three investment categories: market infrastructure, stablecoins, and tokenized assets.Rationale behind early-stage equity and token investments in crypto.Evolution of exit opportunities for equity-based crypto businesses.Regulatory improvements accelerating institutional crypto adoption.In-depth analysis of stablecoin investment categories and use cases.Challenges and opportunities in crypto market infrastructure.Comparison of competition dynamics across stablecoins and infrastructure.Insights into real-world asset tokenization, especially in private credit.Metalayer’s approach to investing in DeFi and institutional-focused protocols.Blockchain ecosystems gaining traction among financial institutions (Ethereum, Solana, Avalanche).Metalayer’s data-driven sourcing engine, Morai, and how it supports the investment process.What differentiates Metalayer as a capital partner for founders.Geographic investment focus by category across the Metalayer portfolio.Highlight of Station 70, a recent investment in digital asset security infrastructure.Andy’s past ambition to become a professional skateboarder and his continued passion for skating.LinksAndy Kangpan on Twitter: https://x.com/kangpandabearAndy Kangpan on LinkedIn: https://www.linkedin.com/in/andrewkangpanMetalayer: https://www.metalayer.vc/Brooke Pollack on Twitter: https://twitter.com/bhpollackBrooke Pollack on LinkedIn: https://twitter.com/bhpollackHutt Capital: https://www.huttcapital.com/

In this episode of Inside the Hutt, Brooke Pollack welcomes Sam Hallene, investment partner at CMT Digital, a blockchain-focused venture capital firm operating under the broader CMT Group. Brooke and Sam explore current trends in DeFi, stablecoins, DePIN and sector-specific blockchains, along with candid insights into founder relationships, portfolio construction, and long-term conviction in the industry.Key Points From This Episode:Sam’s background and how he joined CMT Digital after reading the Bitcoin and Ethereum white papers.Overview of CMT Digital’s evolution and its relationship with the broader CMT Group.CMT Digital’s venture strategy, early-stage focus, and investment approach.The operational implications of being a registered investment advisor (RIA).CMT’s generalist thesis in blockchain, spanning multiple verticals and geographies.Observations on the potential for U.S. crypto re-onshoring and regulatory shifts.CMT’s global footprint and approach to investing across jurisdictions.Investment check size, ownership targets, and CMT’s long-term founder engagement strategy.Current state of DeFi and its progression into new financial instruments and integrations.Stablecoins as a transformational technology and investment opportunity.Perspectives on credit infrastructure and the role of stablecoins in payments.1Money as an example of a purpose-built stablecoin-centric blockchain.CMT’s views on investing across multiple L1s and L2s and how they think about competitive overlap.Discussion of portfolio company Strike and the enduring demand for Bitcoin-centric financial services.Thoughts on DePIN and key takeaways from Andrena’s growth model.Sam’s conviction that global finance and infrastructure will shift to blockchain rails.Why founders and LPs choose to work with CMT Digital.Links:Sam Hallene on LinkedIn: https://www.linkedin.com/in/sam-hallene-353650bbCMT Digital: https://cmt.digital/CMT Digital on Twitter: http://twitter.com/cmt.digital Brooke Pollack on Twitter: https://twitter.com/bhpollackHutt Capital: https://www.huttcapital.com/