Peter Thiel’s Founders Fund Hires Joey Krug, Former Co-CIO of Crypto VC Firm Pantera Capital
According to reports, according to a person familiar with the matter, Peter Thiel\’s Founders Fund has hired Joey Krug, former co chief investment officer of cry
According to reports, according to a person familiar with the matter, Peter Thiel’s Founders Fund has hired Joey Krug, former co chief investment officer of crypto venture capital firm Pantera Capital. Joey Krug is a co founder of financial technology startup Eco and joined Pantera as a partner in 2017.
Founders Fund hires Joey Krug, former co chief information officer of Pantera
In recent news, Peter Thiel’s Founders Fund has made a significant move by hiring Joey Krug, who previously held the position of co-chief investment officer at crypto venture capital firm Pantera Capital. Krug, who is also the co-founder of financial technology startup Eco, joined Pantera Capital as a partner back in 2017.
The Background
Peter Thiel, an American entrepreneur and co-founder of PayPal, was one of the first individuals to invest in Facebook, earning him a net worth of over $2 billion. He is also known for his work with Palantir Technologies, a data-mining company that contracts with a variety of government agencies. Thiel’s Founders Fund is a venture capital firm that has invested in successful startups such as Airbnb, Spotify, and SpaceX.
Pantera Capital, on the other hand, is one of the most well-respected crypto venture capital firms in the world. Founded in 2013 by Dan Morehead, the firm has invested in over 50 digital currency startups. Joey Krug, who previously held the position of co-chief investment officer at Pantera Capital, also co-founded Augur, one of the world’s first decentralized prediction markets.
Joey Krug’s New Role
It is yet to be revealed what position Joey Krug will hold at Peter Thiel’s Founders Fund. However, his significant experience in the crypto space and investing expertise makes him a valuable addition to the venture capital firm’s team. Krug has established himself as an influential figure in the crypto industry and is well-known for his insights on blockchain infrastructure and investing strategies.
With Krug now in the team, Peter Thiel’s Founders Fund could potentially increase their investments in the crypto space. The venture capital firm has previously invested in companies such as Bitmain, a Chinese crypto mining giant, Tezos, a platform for smart contracts, and Ripple, a digital payment company.
Eco: Joey Krug’s Financial Technology Startup
Krug co-founded Eco in 2018 with a vision to create a new type of banking account. The startup aims to tackle the issue of climate change by allocating 1% of every account’s balance to environmental causes. The account offers a high-yield savings account and a Visa debit card that gives users up to 5% cash back on purchases.
Eco’s mission is to create a banking product that challenges the traditional banking system by providing an ethical and transparent option for users. The startup has already raised $34 million in funding, which includes investors such as Andreeson Horowitz, as well as Founders Fund.
Conclusion
The hiring of Joey Krug by Peter Thiel’s Founders Fund signals a positive move towards increasing investments in the crypto space. Krug’s extensive experience as an investor and his expertise in the crypto industry make him a valuable addition to the venture capital firm’s team. Additionally, Krug’s work with Eco shows his passion for ethical and transparent banking products that appeal to a wider audience.
FAQs
1. What is Peter Thiel’s Founders Fund?
– Peter Thiel’s Founders Fund is a venture capital firm that invests in early-stage startups, established businesses, and public investments.
2. Who founded Pantera Capital?
– Pantera Capital was founded by Dan Morehead in 2013.
3. What is Eco?
– Eco is a financial technology startup that offers an ethical and transparent banking product that allocates 1% of every account’s balance to environmental causes.
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