I often get asked what we look for at Delphi Ventures as we hunt for new investable projects. The dream would be to have unlimited time to due diligence every project and founder, but given the ever-increasing speed of the space, investing in crypto and DeFi often requires you to vet projects extremely quickly. Let’s dive into what’s important.
This is far from an exhaustive due diligence list, but four key areas I look for in any new project are the team, community, its products, and its tokeneconomics.
Founders are the lifeblood and energy behind every project. Their ability to remain proactive, and overcome obstacles in near real-time given the pace of crypto is of vital importance to their success. Founders have to be able to tell a memorable story and gain the trust and love of their communities and have the technical chops (or a co-founder has, or the project is able tor recruit someone who does) to out build the competition.
While there are numerous examples of anon founders (Bitcoin, Thorchain, Tezos, Saffron, etc), having a team with a public face could grow