LongHash Ventures partner: The funds for funds and direct investments are drying up, the entire market is bullish in Q4 this year and Q1 next year

Gold Finance reported that emmacui.eth, a partner at LongHash Ventures, expressed their views on Token2049 and Solana Breakpoint in their publication on X. The main points are as follows:

1. Both funds and direct investment capital are depleting. Western general partners (GPs) are flocking to Asia for fundraising. Those GPs who are unable to raise the next fund are seeking to modify investment mandates to recover capital. Funds are dropping fundraising targets. The distributed capital return rate (DPI) for 2021 and beyond is very poor, and the multiple on invested capital (MOIC) is difficult to compare.
2. Infrared fatigue is a real phenomenon. There are over 700 off-site activities, most of which are infrastructure projects. Everyone is trying to come up with a fine-grained description to distinguish from other infrastructure projects in the same category.
3. The Solana Breakpoint is refreshing. This event is full of developers instead of BD personnel. The entire market is bullish in the fourth quarter of 24 and the first quarter of next year. The main catalysts are interest rate cuts and the U.S. presidential election. We have seen the price movement after Token2049.
4. Reputation is important. As Cryptocurrency matures, its surface area becomes larger. Investors/projects can conduct more due diligence on specific founders/projects/investors in various ways. It is becoming more common to put in more effort for due diligence before investing/hiring/joining a project. This is a sign of maturity.