A fund needs three roles: the expert investor who knows the assets deeply, the fund manager handling compliance and legal stuff, and someone raising capital. Dan covers the first role here, the speaker handles the second, and they split fundraising. Most people don't do all three.
Chapters
There's 3 distinct roles in a fund of people and/or roles I'd call them. I draw them usually like this. So, 3 distinct roles. Role number 1 over here is what I like to call the expert investor. In our fund, this is Dan. Super knowledgeable on crypto like knows everything about crypto. I mean, the guy is just a geek about crypto, amazing, awesome in the best way possible, Dan. Geek in a good way. The next role is what I call the fund manager. This person knows compliance, how the SEC works, how to like raise money, how legal teams, you know, all that kind of stuff, audit. That's me, that's what I'm really good at. I'm very, very good at this circle. The last circle is the capital raise. Now, in our fund, me and Dan kind of do this together. So we share this role. In some funds, it's 3 people. In other funds, it's 20 people that do this, and you're a sliver of one of these. If you feel like, I don't know how to do one of those, totally normal. Most people don't do this.