Insights
Investment perspectives, market notes and guides for protocol teams, advisors and co-investors.
Investment perspective
The source of an investor’s capital shapes how it behaves in a volatile market. We explain how permanent family capital differs from capital with fixed fund lives, and what that means for protocol teams and counterparties.
Caldrion Digital Assets
Guide
A practical guide for protocol teams, foundations and advisors: our criteria, what makes a complete package, how we review a submission, what diligence involves and what happens after we invest.
Caldrion Digital Assets
Market note
A protocol can succeed while its token captures little of the value it creates. We explain how we assess value accrual, model supply schedules and think about vesting before joining an early-stage round.
Caldrion Digital Assets
Market note
Sustainable yield in decentralized finance is payment for a service. We explain how we trace yield to its source, underwrite lending, liquidity provision and staking, and avoid the subsidy trap.
Caldrion Digital Assets
Investment perspective
Why Caldrion invests permanent capital in digital assets: what we believe is happening to financial infrastructure, what we think others miss, why now, how we underwrite and secure what we hold, and the risks we take seriously.
Caldrion Digital Assets
Insights
Protocol teams, founders and advisors reach a decision-maker through one short form. We aim to give initial feedback within 72 hours of receiving a complete package.