Meet the Visionary Transforming Venture Capital with a Decentralized Approach The idea of BasedVC was born out of the need to help launch Web3 startups. Meet Rudy De La Cruz, the man who heads strategy at the firm.

Anyone who has tried to raise funds for their startup in the past few months would attest to the glut of dry powder that has plagued the Venture Capital sector. Investors are pulling back and adopting a wait-and-see approach.

Despite the current rough terrain, Rudy De La Cruz, who advises startups and holds multiple consulting roles, teamed up with other industry experts to launch BasedVC, a community-driven capital fund based on the blockchain.

While traditional VC funding maintains a higher barrier of entry that denies ordinary investors access, blockchain technology presents an opportunity to improve the VC model for investors and founders. BasedVC is built on the technology responsible for allowing many investors to pool funds for project investment.

Journey So Far

We spoke with Rudy De La Cruz, the Head of Strategy at BasedVC, about his career journey. Rudy's professional path started in management consulting, business brokerage, private equity, and healthcare. Through these experiences, he discovered his passion for assisting people and solving their problems.

"As a key player in the web3 VC space with Sublime Ventures, my career journey began in management consulting, business brokerage, private equity, and healthcare. There, I discovered my passion for problem-solving and helping others," says Rudy.

Knowing this, he transitioned into becoming an advisor to several Web2 startups that grew exponentially beyond the $100 million valuation. He believes these experiences are the building blocks that spurred his venture into the web3 venture capital landscape.

Why Web3 VC

Rudy is passionate about the transformative potential of decentralized technologies and blockchain innovations, particularly in the Venture Capital space. As someone who was interested in how problems were solved, the immense potential that the novel technology offered aligned with what he was most interested in—helping others.

To him, the philosophy behind investing is grounded in access. While traditional VC investing is shrouded in secret high-tower offices in Silicon Valley, London, or Berlin, Rudy envisions a world where anyone over 18 who complies with all applicable domestic and international laws, statutes, ordinances, and regulations can join a community and invest alongside industry VC giants.

Hence, he describes Web3 Venture Capital as:

"The funding provided to startups and projects leveraging blockchain technology – gaming, artificial intelligence, real-world assets, and other emerging technologies within the decentralized web ecosystem. These investments aim to support innovative projects that have the potential to disrupt traditional industries and create new paradigms of value exchange and interaction."

"Democratize Access"

"BasedVC aims to democratize access to web3 venture capital by providing a platform where investors can participate in early-stage investments in promising blockchain projects," stated De La Cruz.

Having raised $60 million in 2023, BasedVC allows investors to connect with startup projects and private deals. After going through a vetting process, the firm lists early-stage companies on its platform. Then, investors may choose from a variety of options.

"Through BasedVC, investors can gain exposure to exclusive opportunities in the rapidly evolving web3 space, which were previously only accessible to a select group of investors with privileged access," De La Cruz continued.

BasedVC applications range across almost all industries, showcasing the limitless potential of decentralized investing. However, the fund invests in projects building Blockchain infrastructure, Web3 games, DeFi applications, Augmented Reality, Artificial Intelligence, and tokenization and yield from real-world assets. It has invested in companies including Saakuru, Aethir, Metalcore, Goodlawyer, BlockGames, and LandX. It has recently partnered with the Bored Ape Yacht Club (BAYC) to launch Apes Capital.

De La Cruz said that "democratizing access to Web3 venture capital" is paramount. The community, which serves as the source of pooled funds, is the core of the firm. While investors will gain access to exclusive deals, early-stage startups will enjoy advisory services that include token offerings, business development, tokenization, etc.

Investors who have vested their tokens in the firm may claim them and store them in their wallets. They may then transfer them to a DEX or a centralized exchange like Binance or Bybit to sell them in the open market.

Regulatory Compliance

When asked about BasedVC's commitment to compliance, De La Cruz said that the platform was committed to ensuring regulatory compliance through its robust internal controls and risk management protocols.

He summed it up this way:

"While BasedVC is KYC-free, the platform remains committed to ensuring regulatory compliance by closely monitoring the evolving crypto regulatory landscape and adapting its processes accordingly."

"By implementing robust internal controls, compliance mechanisms, and risk management protocols, BasedVC aims to mitigate regulatory risks and uphold legal standards in its operating jurisdictions," he added.

Looking Forward

As the market adjusts to the reality that blockchain technology is here to stay, BasedVC is ready to make VC investing accessible to the general population. The company's vision is to expand its investment portfolio, enhance its platform features, and deepen engagement with investors.

"Exciting developments are underway at BasedVC," De La Cruz states. "With upcoming updates that promise to revolutionize the web3 investment landscape," he concludes.