Trammell Venture Partners is a leading venture capital company. They announced the closure of their first fund, which was specifically designed to support founders working on the Bitcoin/Lightning Network protocol. TVP Bitcoin Venture Fund series is leading the industry to this crucial area of dedicated venture investment. It has reduced the gap in venture financing for Bitcoin-focused entrepreneurs and released a flood of energy into the early stage crypto market.
“Over the years, Bitcoin has been rightly cautious about making any changes to Bitcoin Core. However, the steady development of Bitcoin’s protocol layer layers has been impressive. We’ve been waiting to the right moment,’ stated Christopher Calicott (TVP managing director, founding partner).
“Key pieces of the Bitcoin ecosystem infrastructure such as increased channel capacity in Lightning Network, strong growth in Bitcoin-backed credit market, and other factors are starting to give rise to a Bitcoin native application layer. Calicott stated that now is the right time to increase investment in Bitcoin. “Founders are increasingly building on the internet’s base monetary layer. Bitcoin is already the holder of this title, but it’s not widely recognized. TVP Bitcoin Venture Fund Series supports founders who are building the next iconic brands for the emergence a new sound monetary order. This is the last aspect of our world that has not been affected by positive disruption.
TVP partners have been able to experience the difficulties of investing in Bitcoin since its early days. However, they also want the chance to invest in other asset classes. TVP was a previous investor in Bitcoin-derived credit markets, and saw an opportunity for leadership. “No one should feel that they must sell bitcoin in order to make other worthwhile investments. Calicott stated that TVP is now a platform and can meet the needs of investors like him. TVP created the first industry-wide institutional feeder fund that allows investors to use bitcoin to gain access to alternative asset classes such as venture capital.
Dustin D. Trammell (TVP founder partner) stated that investors shouldn’t have to liquidate Bitcoin in order to invest.
Calicott said, “We’re cooking our own food using Bitcoin’s protocol native custody model to secure Bitcoin over the length of fund in order to invest in bitcoin without giving up our upside, which will be open to other investors in future.” TVP’s new approach gives TVP a rare opportunity for innovation. It also steers the industry towards new Bitcoin-specific credit agreements, term lengths and facility types, while hinting at the longer end in the bitcoin interest rate curve. “Safe, secure returns and yields from pristine collateral are the future of long-term bitcoin holders.”
TVP Bitcoin Venture Fund I also stands out in another important way. The capital was entirely formed from investors who are aligned with Bitcoin’s mission, value proposition, and values. Limited partners as well as a variety of TVP advisors are also involved in the fund. These include Ryan Gentry and Robert Breedlove and Stephen Cole. Lyle Pratt and Cory Klippsten. Yan Pritzker. Louis Liu. Karthik Srinivasan and Allan Stevo. Will Cole.
To source fund deals, Stephen Cole, a prolific Bitcoin angel investor joined TVP recently as a venture partner. “I am excited to join TVP’s vision and focus on a future based on bitcoin. We are positioning this fund for long-term value creation that we believe can transform not only fintech, but also venture capital and the global monetary system. TVP is the Bitcoin signal in a sea of crypto noise’ Cole stated.