Cryptocurrency and blockchain may have started as niche bets, but they’ve quickly matured into a multi-trillion-dollar asset class drawing serious attention from the private wealth world. Family offices, known for their flexibility and appetite for innovative opportunities, are no exception. In this blog, we spotlight three family offices actively allocating to crypto and blockchain ventures, unpacking where they’re placing capital and what it signals about the broader adoption trend in alternative investments.
Established in 2010, Webb Investment Network is a Los Gatos, California-based single-family office acting as the private investment arm for Maynard Webb. Webb created his wealth as an entrepreneur and executive in the technology industry. Webb worked for several companies including eBay, where he served as Chief Operating Officer and President of Technology. In 2010, he created Webb Investment Network (WIN) in an effort to consolidate his personal investments and continue allocating to private companies.
Webb Investment Network targets companies across a range of industries within the technology sector, including cryptocurrency, cloud computing, e-commerce, software, mobile, crowdsourcing and the internet of things, among others. Since its inception, the firm has invested in over 100 companies. Webb Investment Network targets early-stage companies with ambitious entrepreneurs.
In October 2014, Webb Investment Network directly invested in Uphold, Inc., a digital wallet and trading platform that makes cryptocurrencies and other assets affordable and accessible for everyone. Covering 28 cryptos, 27 national currencies, six stablecoins and four precious metals, Uphold, Inc. allows consumers and businesses to easily transact between digital and traditional currencies, with full integration between old and new money systems.
Webb Investment Network actively leverages its network within the private investor and family office space to identify potential co-investment opportunities. The firm actively gives back to the community in which it operates and considers itself an impact investor. The firm actively co-invests alongside other investors. Geographically, the firm considers investments opportunistically with a historical focus on the United States and North America.
Soul Capital is a Kowloon, Hong Kong-based single-family office serving as the investment vehicle for an undisclosed high-net-worth family. Soul Capital primarily seeks venture capital, private equity and direct investments, with a core focus on investment opportunities in blockchain, cryptocurrency and emerging technologies. Other sectors and industries of interest include artificial intelligence, data, software, robotics, FinTech, digital currencies and more.
In September 2018, Soul Capital directly invested in SmartUp, a platform where people can learn, interact and share on any device. Having integrated features that people love from the best social and workplace platforms, users can enjoy a consumer-grade learning experience. Founded in late 2015 in the U.K., SmartUp started as a peer-to-peer learning app with content exchange from entrepreneurs within the Founders Forum network.
In October 2018 and July 2019, Soul Capital directly invested in Liquefy, a FinTech platform that leverages blockchain technology to enable the issuance and distribution of tokenized securities backed by real assets to bring in a new world of accessible investment. Additionally, Soul Capital has made a number of impact investments and is interested in new opportunities in the ESG space. The firm actively co-invests alongside other LPs and family offices.
Founded in 2018, Mehta Ventures is a La Habra, California-based single-family office managing the wealth of Sanjay Mehta and his family. Mehta created his wealth as a serial entrepreneur and startup investor. Mehta has invested in over 100 startups and was named one of India's most prominent angel investors. Today, Mehta Ventures is comprised of a small team of investment professionals with an additional office in Mumbai, India. The firm invests mostly in cryptocurrencies, blockchain, technology, logistics and cannabis opportunities.
Mehta Ventures provides venture capital for early-stage businesses, as well as funding for later-stage ventures. The firm seeks startups showing significant technological and business innovation and invests primarily in India and the U.S., and often connects U.S. startups with access to their vast resources in the Indian market.
In December 2020, the firm directly invested in CoinDCX, India’s largest and safest cryptocurrency exchange that provides users access to a diverse suite of crypto-based financial products and services. Backed by security processes and insurance, CoinDCX has the highest number of cryptos listed in India with instant deposit and withdrawal facilities. Mehta Ventures will make co-investments through its expansive network of high-net-worth individuals and venture capital funds around the globe.