Investing

I invest in frontier technology - AI infrastructure, digital assets, and the platforms that will matter when intelligence is commodity-priced.

Focus Areas

I invest at seed and angel stages, selectively in listed equities, and through alternative assets. If you're building something at the intersection of intelligence and infrastructure, I'd like to hear from you.

The regulatory landscape

Europe is in the middle of the largest regulatory extinction event in crypto history. MiCA (Markets in Crypto-Assets Regulation) replaced the patchwork of national VASP registrations with a single CASP authorisation regime. The transition deadline is 1 July 2026. The scale of the cull is remarkable:

• ●3,100 crypto companies registered in Europe before MiCA. 75% are expected to lose their licence
• ●Old VASP registration: ~EUR 2,000. New CASP licence: EUR 150,000 - 500,000. A 70-250x cost increase
• ●174 companies licensed so far. 2,926 still to go, with 3-6 month processing times
• ●Gemini exited Europe. Bitget left. Tether USDT delisted by every major exchange

The UK is finalising its own regime (FCA consultations closed Q1 2026, rules expected by end 2027), covering trading platforms, staking, lending, and DeFi. Switzerland is consulting on a new crypto-institution licence under FINIG, adding to its existing FINMA framework. The strategic question for any digital asset business operating in Europe is no longer whether to be regulated, but how quickly you can afford to be.

This consolidation is not purely destructive. Companies that navigate MiCA gain EU-wide passporting across 27 member states from a single authorisation - a prize that did not exist under the old regime. For investors, the regulatory shakeout creates a clear distinction between companies with compliance infrastructure and those without.