Framework: Venture capital competition is too fierce in this round, and the bull market cycle from 2018 to 2022 may be difficult to replicate

Mars Finance reported that on September 18, BlockBeats reporter reported that Vance Spencer, co-founder and general partner of Framework Ventures, attended the “Investors Roundtable: Navigating Crypto's Changing Landscape” roundtable discussion on the first day of the TOKEN2049 main venue and said:

I would be very focused, which is how we started in 2019. I would probably move to India, I would move to China, or I would move to Hong Kong. I would try to focus on one regional market, I would probably go deep into one specific sector. I think the hard part about starting out as a venture investor right now is that there is so much competition. We still haven’t seen any fund in this cycle that has a breakout performance, like someone has invested in a project and got a 1,000x return and then can become a "big guy", and of course I don’t think it’s realistic. I think the period from 2018 to 2022 will be a very unique period in the history of this industry, so much so that I don’t think everyone here will be able to grow from a fund size of about $10 million to billions of dollars.