Announcing Prelude

Cherry Crypto is now Prelude.

We started Cherry Crypto at the beginning of 2022, as the crypto fund of Cherry Ventures. For the past 3 years, we’ve been investing in crypto at the earliest stages and have been fortunate to work with some of the industry’s best entrepreneurs.

The opportunity to build out a crypto fund to complement Cherry’s generalist investing practice was compelling to us when we got started, and has led to a fruitful partnership over the years. As we were thinking about the next fund generation and the future of Cherry Crypto more broadly over the longer term, we collectively decided that it made sense to spin out the crypto fund.

Going forward, we will continue investing as Prelude. We chose the name because it reflects our style of investing. We like to invest before the music gets loud. Before a company that is obvious to us, becomes obvious to everyone.

We will continue operating on the pillars that we’ve been operating on for the past few years:

• We invest at the earliest stages

• We lead or co-lead rounds

• We are hands on

• We invest globally

• We invest across tokens and equity

We are excited about the next phase of crypto as an industry. The infrastructure is ready, the regulatory landscape is shifting in our favor, and products are starting to cross the chasm. Core to our investment thesis has been investing into teams that are not content with simply building for the crypto industry, but for everyone.

The tailwinds have never been more favorable and we look forward to continue partnering with those founders that manifest crypto’s promise into reality.