Placeholder

Placeholder is a New York City-based venture capital firm renowned for its pioneering investments in decentralized information networks and the broader Web3 ecosystem. Founded by Joel Monegro, formerly of Union Square Ventures, and Chris Burniske, previously with ARK Invest, the firm established itself early as a thought leader in the crypto space. Placeholder operates on a deeply thesis-driven approach, focusing on the long-term potential of open-source protocols and the ownership economy. Their investment philosophy centers on identifying foundational technologies that enable new forms of digital ownership and decentralized applications, moving beyond traditional internet paradigms.

The firm primarily targets early-stage opportunities, typically participating in Seed and Series A rounds. They are known for their hands-on approach, providing strategic guidance and leveraging their extensive network within the Web3 community to support portfolio companies. Placeholder has raised four dedicated funds, with their latest, Fund IV, announced in late 2023, each typically around $100 million. This brings their total assets under management to approximately $450 million. Their commitment to the space is evident in their consistent fundraises and their deep research into emerging trends within decentralized finance, NFTs, and other blockchain-native applications.

Placeholder's portfolio boasts several of the most influential projects in the decentralized world. Notable investments include foundational protocols like MakerDAO, Uniswap, The Graph, and Aave, which have become cornerstones of the DeFi and data indexing landscapes. While their initial checks for Fund I were reported to be in the range of $250,000 to $5 million, more recent reports indicate that Placeholder typically writes initial checks between $1 million and $10 million for their early-stage investments. This strategic deployment of capital allows them to take meaningful stakes in promising ventures while providing substantial runway for development. The firm's analytical rigor and long-term vision have positioned it as a key player in shaping the future of decentralized technologies.