S1, E5: From Two Sigma to Twenty-Five Million Fund 1 - Andy Kangpan, Metalayer Ventures

In this episode of Inquisitive VC, host Nawaz Ahmed sits down with Andy Kangpan, Founder and General Partner of Metalayer Ventures, a $25M crypto venture fund focused on blockchain adoption in financial services.

Andy shares his journey from investing at Two Sigma during the 2017 ICO boom to founding Metalayer after the FTX collapse—driven by the belief that crypto’s next chapter lies in real-world deployment, not speculation.

He opens up about the emotional rollercoaster of raising a first fund, the key lessons learned from rejection, and how Metalayers balanced 50/50 approach to equity and token investments positions them for the evolving crypto landscape.

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Check out the Substack for show notes and transcript!

Intro & Outro soundtrack from - https://www.purple-planet.com