We kick off Crypto for Institutions 2 with Marcos Veremis. Marcos is a Partner at Accolade Partners, a $4.4 billion venture fund of funds whose founder Joelle Kayden appeared on the show earlier this year. Marcos manages $1 billion in blockchain fund of fund assets across liquid and venture strategies. He is one of the most well-regarded allocators in the space, having created and led the practice at Cambridge Associates before leaving to become a principal, first at Evanston Capital Management and then at Accolade.

Our conversation covers Marcos’ discovery of crypto while at Cambridge, building a formal research practice, and following institutional interest in the space. We then turn to his transition from consultant to the buy-side (of the buy-side) and his approach to manager selection, due diligence, portfolio construction, and oversight. We close with Marcos’ perspective on the recent drawdown, valuation, and long-term outlook.