Investments

I made six angel investments from 2013-2016, all in founders I knew before investing:

  • Portfolio:
    • Paystack (2016 Seed) – Acquired by Stripe for $200M+ in 2020.
    • Beek (2016 Seed) – Unrealized gains.
    • Sano (2015 Seed) – Raised 2018 Series A from Fitbit. Acquired by One Drop in 2020.
    • MatterFab (2014 Seed) – Raised 2015 Series A from GE Ventures and AutoDesk. Shut down.
    • Experiment (2013 Seed) – 2021 grant by Robert Downey Jr. via Experiment Foundation.
    • 10 Storks (2013 Seed) – A subscription box I bootstrapped with my wife. Shut down.
  • Returns:
    • I invested $45K total and have returned $200K (4.4X, 32% IRR) so far.
      • My anti-portfolio of founders who I knew and/or advised over the years and then never asked to get an allocation in their seed round would easily increase my IRR over 100%.

I invested exclusively in cryptocurrencies from 2017-2021:

  • Portfolio:
    • 2017-2018: Built a market cap-weighed portfolio of the top-10 cryptocurrencies.
    • 2019-2021: Consolidated into a market cap-weighed portfolio of BTC and ETH.
  • Strategy:
    • Buy, hold, and accumulate top cryptocurrencies with a 10-year outlook.
      • My two kids were born in 2017 and 2019, so liquidity is now a key factor in my investing strategy.

I’m now investing exclusively through Utopic, my personal capital holding company:

  • Utopic Studio is my indie startup studio.
    • Pro Benches is our first product.
      • On January 1, 2022, I acquired Electra-tec, a product line of technical workbenches.
      • I’m relaunching it as Pro Benches, with a new brand and website I made myself.
        • I’m embracing the #buildinpublic movement to share my story of solo entrepreneurship!
  • Utopic Ventures will be my fund to invest in other founders.