EarlyRiders: Bitcoin-Denominated Investment Fund
May 15, 2025EarlyRiders is a bitcoin-denominated investment fund.
At Early Riders we raise our fund in Bitcoin, maintain our capital in Bitcoin, require our portfolio companies to maintain Bitcoin reserves, and return capital to our limited partners in Bitcoin. Our goal is to return more Bitcoin to our limited partners than they invested in the fund:
The fund’s core philosophy is that if entrepreneurs are looking through the lens of an asset that appreciates over time, and everything is denominated according to that asset, they’ll need to spend the money with a high level of discernment and scrutiny.
I found that very interesting. I’ve always felt that the ease of raising large amounts of money made misallocating capital in startups a non-event.