{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Sequoia Capital explains what crypto founders want from VCs","html":"","width":"100%","height":180,"duration":2662,"description":"Sequoia Capital has been invested in crypto since 2015, but the VC firm recently raised the stakes by announcing its first sector-specific fund: a $500 million Sequoia Crypto Fund focused on liquid tokens and digital assets.\nIn this episode of The Scoop, Sequoia partners Shaun Maguire and Michelle Bailhe sit down with host Frank Chaparro to discuss Sequoia’s new fund and explain how the power dynamic between venture firms and crypto native founders has evolved.\nSo what are these crypto-native founders looking for when it comes to selecting VC firms? Maguire believes they are looking for funds that can keep pace with the fast-paced crypto industry:\n“Crypto moves so fast, crypto founders want to work with funds that can move incredibly fast, they want to work with funds that deeply understand their problems, deeply understand the landscape. Those properties are primarily going to live within crypto specific funds rather than in generalist funds.”\nThe crypto-specific fund structure certainly seems to be working well for Sequoia, which recently led a $135 million Series A+ investment in LayerZero Labs, along with FTX Ventures and A16Z.\nIn fact, Bailhe believes that this is why Sequoia’s technical knowledge and understanding of the problems in cross-chain interoperability that LayerZero Labs is attempting to solve made such an impact on co-founder Bryan Pellegrino.\n“I remember him saying, ‘You really tried to engage on the way that we had constructed LayerZero and how it was working, versus focusing on kind of the easy questions…’” Bailhe recalled. “They felt like they would get people who were deeply committed to crypto.”\n\nEpisode 27 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro, and Shaun Maguire & Michelle Bailhe, Partners at Sequoia.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}