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Asymmetric aims to grab $1B from big names like a16z, Paradigm, and Solana

Updated: Jul 25, 2024
Published: Apr 27, 2022
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The CEO and CIO of the crypto market's latest investment company Asymmetric, Joe McCann, is reportedly aiming to raise $1 billion in the capital with the support of big names, including Andreessen Horowitz (a16z) and Paradigm.

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Joe McCann's Asymmetric aims for $1 billion in funding

During an interview with The Block, McCann said that he is looking for the support of companies like Solana, a16z, and more to back its investment company. He went on to highlight the uniqueness of his company. 

McCann revealed that he has convinced some of the industry's top names, including a16z's Marc Andreessen and Chris Dixon. Asymmetric is also backed by Solana's Anatoly Yakovenko and Raj Gokal, CMS's Dan Matuszewski, Circle, FTX, and former Coinbase president Asiff Hirji. Scott Schleifer, the creator of Tiger Global, and Multicoin's Kyle Samani and Tushar Jain are also among the major investors.

"We're excited for Circle Ventures to be an investor in Asymmetric, one of the most forward-thinking funds in crypto," noted Circle's Jeremy Allaire. 
Notably, a16z itself launched a fully-fledged research unit to solve the "problems" that come with the emerging ideas in the crypto industry. On the other hand, Paradigm has also hired top-tier developers to work along with the investors.

What is Asymmetric?

Asymmetric is a recently-launched crypto-focused investment firm. The CEO said he'd likely call Asymmetric "a technology company investing in technology companies." It will be divided into a venture capital fund and a liquid fund. The former would aim to compete with companies like Paradigm and Multicoin for token deal allocation, while the latter will be run similar to a Wall Street hedge fund with the help of Wall Street's most advanced tools.

Members of the company's core team include the former portfolio manager at Brevan Howard, Chris Cecere, the Goldman Sachs alumna Bouchra Darwazah, and the founder of Drizly, Brett Beller. 

Before launching Asymmetric, the crypto entrepreneur Joe McCann has a noted contribution to the code of Solana's Anchor set of developer tools.

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