Anagram

Anagram is a venture capital fund based in Grand Cayman, Cayman Islands, dedicated to investing in the burgeoning blockchain technology sector and the broader digitization of assets. Co-founded by experienced industry figures Lily Liu and Joe Lalloo, the firm has quickly established itself as a significant player in the Web3 investment landscape. Its strategic location in a jurisdiction known for its supportive regulatory environment for digital assets further underscores its commitment to the decentralized future.

The firm's investment thesis is sharply focused on early-stage opportunities within the blockchain ecosystem. Anagram actively seeks out innovative projects across various sub-sectors, including decentralized finance (DeFi), non-fungible tokens (NFTs), core blockchain infrastructure, and Web3 gaming. Their approach is to identify and back foundational technologies and applications that are poised to drive the next wave of digital transformation, typically engaging with companies at the seed and Series A stages of their development.

Anagram successfully closed its debut fund, raising an impressive $50 million, which was announced in May 2022. This capital enables the firm to provide substantial early funding to promising startups. Anagram typically writes initial checks ranging from $500,000 to $3 million for its portfolio companies, demonstrating a flexible yet impactful investment strategy tailored to the specific needs of early-stage ventures. As of early 2024, the fund has built a robust portfolio, having made over 40 investments in companies shaping the future of Web3.

The founders' deep expertise further strengthens Anagram's position. Lily Liu previously co-founded Earn.com, which was acquired by Coinbase, bringing valuable operational and exit experience. Joe Lalloo's background includes time at Polychain Capital, a pioneering crypto asset manager, providing a strong foundation in crypto-native investing. This blend of operational insight and specialized investment acumen allows Anagram to not only provide capital but also strategic guidance to its portfolio companies, fostering their growth and success in a rapidly evolving industry.