What is Venture DAO?
A distributed autonomous organisation (DAO) is a cryptonative and remote-first way for people to coordinate funding, labor, time and social capital. The governance of DAOs are distributed, with all funds and assets managed on-chain via smart contracts. There’s no board of directors, nor is there central control of the organisation. They coordinate components of the soft human-facing layer of crypto: money, social capital, reputation and attention. They give power to individuals upon crowd consensus, and are inherently a political tool. — MetaCartel Ventures WhitePaper
MetaCartel Ventures (Venture DAO) is a for-profit DAO created by the MetaCartel community for the purposes of making investments into early-stage Decentralized Applications (DApps). It embodies a community-oriented membership structure and offers radical flexibility in participation in a manner that is unparalleled by traditional “venture capital fund” models.
Our investments are directed our DAO members (Mages): they will be the ones sourcing, conducting due diligence, proposing, and voting on investments. The admission of new members into the DAO is permissioned and member-curated; while the ability to exit the DAO is completely permissionless, allowing exiting members to receive their full pro rata share of the DAO’s assets at any time.
Our DAO is made up of a code and law pairing; with our business LLC entity being tightly coupled with its smart contracts and token technology deployed on the Ethereum main-net. The technology half will consist of an instance of the Moloch v2 smart contract standard and the legal half consisting a member-managed Delaware limited liability company governed primarily by the Grimoire (the “Limited Liability Company Agreement”) and the statutes of the Delaware Limited Liability Company Act.
How you should think about Venture DAO as an investor
Venture DAO is more like an open source software project + angel fund than the traditional VC firm.
Our checksizes will initially look to be in the range of $20k to $100k USD range, and will increase over time as the DAO’s AUM grows. While we aren’t able to provide a lot of capital, we look to make that up through our support eg. insight on community building and access to other investors through our network.
We want to be the first check in or first participant in your DAO.
Why you should work with us
We are comfortable working with projects that are pre-company formation and pre-business model.
We are comfortable working with remote teams and anyone, based anywhere in the world.
We are comfortable working with anonymous founders.
Venture DAO consists of battle worn product folks, engineers, investors and community builders who have ‘been there‘ and ‘done that‘. We have a realistic take on what it takes to execute. We aren’t just on the sidelines watching, most of us are actively in the game alongside with you.
We can help teams answer questions such as “how I go about building a strong user community, what does community even mean?, and navigate design challenges such as “how do I implement a DAO business model“, and also help navigate situations such as “when should I monetize?”
We will also look to potentially collaborate on these aspects before committing capital. Yes, we will help you make memes. And, yes, we will also help you make memes.
Who we want to work with?
We want to work with teams looking to be on the frontier and build their project in a cryptonative, community first manner. We want to work with you in figuring this out.
