June 03, 2025
Blockwind editor Tsering Namgyal spoke to Eric Alexandre of Native Capital on blockchain developments.
Q1: I understand it is a blockchain and Web3 VC firm? What is the mission of Native Capital? How is it helping new participants in the Web3 ecosystem?
Native Capital is a venture-building firm dedicated to catalyzing the growth of early- stage blockchain startups. With a keen focus on nurturing innovation and fostering entrepreneurship within the blockchain space, Native Capital identifies promising projects and provides them with the necessary resources, mentorship, and funding to go to market.
The firm manages a balanced portfolio that includes liquid assets such as Bitcoin, Ethereum, and Cardano, alongside investments in cutting-edge startups spanning sectors like gaming, decentralized physical infrastructure networks (DePIN), artificial intelligence (AI), and decentralized finance (DeFi). This diversified approach enables Native Capital to support a wide array of innovative projects within the Web3 ecosystem.
Q2: How do you select your blockchain startups? What are some of the best industry practices that you are helping Web3 participants align with?
In the fast-evolving Web3 landscape, Native Capital adopts a high-conviction, data- driven approach to project selection. We prioritize visionary teams building in-line with emerging infrastructure trends—such as modular blockchains, decentralized identity, AI x crypto, and zero-knowledge technology.
Our Selection Criteria & Process:
Founder Quality: Knowledgeable teams with deep domain expertise, technical skill, and the resilience to iterate through cycles are non-negotiable.
Market Narrative: Projects must align with the market trends and readiness for adoption.
Innovation: A compelling technical or conceptual edge, be it through protocol design, or community-driven network effects is essential to be considered for investment.
Traction & Community: In early stages, signs of organic community engagement or developer interest are a must to be considered.
Our Best Practices in the Web3 Space:
Network-Led Sourcing: We leverage deep crypto-native networks (builders, DAOs, angels) to source early signals and access stealth projects.
Hands-On Support: Offering more than capital with strategic intros, tokenomics design help, advisory, and go-to-market scaling.
Token + Equity Structures: Adapting deal structures to balance both equity and token exposure, while aligning with long-term incentives.
Our Due Diligence Standards:
Tech & Codebase Review: Smart contract audits, GitHub activity, and technical architecture assessment.
Tokenomics & Legal Review: Evaluating supply schedules, utility, incentive mechanisms, and regulatory exposure.
Competitive Landscape Mapping: Assessing differentiation and defensibility in a rapidly iterating ecosystem.
Team & Operational Risk Assessment: Background checks, previous execution track record, and alignment with decentralization principles.
Go To Market Strategy: Demonstrated ability to deploy a minimum viable product (MVP) or proof of concept (POC) within a low-friction user acquisition environment, enabling refinement of technical solutions and amplification of network effects.
Q3: You also run Club Satoshi, a Web3 community. How does it promote the Bitcoin White Paper?
ClubSatoshi.io is a community-driven initiative launched by Native Capital to foster grassroots engagement, knowledge sharing, and ecosystem growth within the Web3 and crypto space. It serves as a platform for founders, developers, investors, and enthusiasts to connect through curated events, educational forums, and strategic networking opportunities. Club Satoshi is completely free to join, reflecting Native Capital’s commitment to removing barriers to entry and nurturing open innovation.
Members gain exclusive access to:
- Discounted and free tickets to major Web3 conferences around the world
- Curated networking opportunities and private community events
- Early access to high-potential projects backed by Native Capital
- Opportunities to contribute to ecosystem discussions and advisory boards
Through ClubSatoshi, Native Capital extends its reach beyond venture investment, creating a vibrant, value-aligned community that accelerates the growth of decentralized technologies. It’s more than a club, it’s a movement to build Web3, together.
Q4: You also run Bitcoin Impact, a blockchain bespoke event? What are its goals, and how do you operate it?
Bitcoin Impact is a must-attend event for blockchain enthusiasts, industry leaders, and innovators. Our events offer a deep dive into the future of decentralized technology, showcase groundbreaking use cases, and provide opportunities to connect with the pioneers shaping the next wave of digital transformation.
The main goal of Bitcoin Impact is to share the latest innovations and explore how blockchain can help shape an efficient, sustainable, and accountable society, one that enables fair wealth distribution and empowers current and future generations through an ethical and transparent way of life, powered by a decentralized economy.
Q5: What is your view on Bitcoin and the blockchain industry in general? Do you think Bitcoin will continue to remain popular? Some have criticized blockchain for not being able to produce viable use cases after so many years. What is your view on that?
I believe we are still in the early stages of Bitcoin’s transformative impact on society. The underlying blockchain technology, the backbone of Bitcoin has the potential to fundamentally reshape how populations manage their economies and growth.
Blockchain can enable a transparent and decentralized system where citizens have full visibility into how their taxes are allocated and managed by elected officials. At the local level, people could vote directly on the needs of their communities, whether it’s renovating a school, improving infrastructure, or upgrading energy and transportation systems. This participatory governance could extend from local to regional and national levels, fostering more equitable and accountable development.
Moreover, blockchain could support fairer international trade by allowing countries to interact based on true value rather than economic power imbalances.
Today, we live in a global economic system dominated by fiat currencies controlled by central governments, often at the expense of emerging markets, which are exploited for their labor, resources, and energy with little regard for their people. Bitcoin introduces an alternative. Through self-custody and financial sovereignty, individuals are beginning to understand the mechanisms of global economic manipulation and the role of central banks in perpetuating inequality.
Q6: In terms of the blockchain industry, which jurisdiction do you think has the best regulatory regime for Web3 firms to operate in? As a blockchain insider, could you please share some of the strengths and weaknesses of different jurisdictions?
There are two main approaches for Web3 firms to consider when choosing where to operate.
1. Early-Stage Projects: Prioritize Flexibility and Cost-Efficiency
For startups in the early stages, it’s often best to choose jurisdictions that offer low setup costs, minimal regulatory friction, and tax-friendly environments. These countries allow teams to focus on building without heavy legal overhead:
- Portugal: Attractive for digital nomads with a mild tax regime and growing crypto community.
- Panama & British Virgin Islands (BVI): Commonly used for setting up foundations, especially for DAOs, due to flexible corporate structures and low regulation.
- Estonia: Once a pioneer in crypto licensing, it’s now more regulated but remains a viable option for compliant early setups.
2. Growth-Stage & Fully Funded Projects: Prioritize Regulatory Alignment and Market Access
For projects that have raised significant funding and are looking to scale under formal regulatory frameworks, these jurisdictions offer clarity, legitimacy, and long-term stability—along with favorable tax treatment:
· Singapore
- Clear, proactive regulatory environment under the Monetary Authority of Singapore (MAS)
- Licensing available for digital payment token services
- Politically stable, business-friendly hub for APAC market expansion
· United Arab Emirates (Dubai & Abu Dhabi)
- Dubai’s VARA (Virtual Assets Regulatory Authority) offers a crypto- specific regulatory framework
- ADGM (Abu Dhabi Global Market) supports Web3 projects through sandboxes and flexible licensing
- Zero personal income tax and strong government push to become a global Web3 and metaverse hub
· Switzerland
- Highly established crypto jurisdiction with regulatory guidance from FINMA
- Legal recognition of DAOs and various token classifications
- Strong data privacy laws and a sophisticated banking system
· Hong Kong
- Reopened to crypto firms with a new licensing regime (as of 2023)
- Government actively supporting Web3 innovation and infrastructure
- Strategic position as a gateway to China (with regulatory caveats)
· United States
- Deep capital markets and a concentration of top-tier developers and investors
- No comprehensive federal crypto framework yet; regulatory uncertainty remains
- Some states (e.g., Wyoming, Colorado, Texas) are proactively crypto- friendly with favorable state laws
Early-stage firms should prioritize operational flexibility, while growth-stage ventures should seek out jurisdictions with strong legal frameworks and strategic market access. The ideal jurisdiction depends on your current phase, funding, and long-term regulatory goals.
