BR Labs Ep. 09: Early Bets, Liquid vs Venture & Why Math Is Honest
BR Labs founder
@rezosh on launching the fund in 2018 when Bitcoin was $4k, the bets that became category leaders, why
@CoWSwap and
@pave_bank stopped being “just investments,” and why they doubled down on liquid markets, not because venture failed, but because liquid was where they were better.
- (00:57) Fund launched in 2018 pitching when Bitcoin was $4k after the $20k rally.
- (03:32) Proud bets that became category leaders: 1inch, CoW Swap, Lido, Nansen, Consensys, Solana.
- (04:36) Latest example: Pave Bank. Founder-first, developer-first. 18 months later Axel led the Series A.
- (05:21) CoW is no longer just an investment, they now run one of the top solvers on it.
- (06:37) Not a pivot away from VC. Two tracks from day one. They focused on liquid because they were better at it.
- (09:30) Venture tells you years later. Liquid tells you the same evening. Math is honest.
Full episode is live now.