Today Stripe is announcing the acquisition of our portfolio company Privy. We originally partnered with 🏕️ Henri Stern and Asta L. in the Seed Round (co-lead with Sequoia Capital in 2021, and have invested in every round since then (joining Paradigm and Ribbit Capital as they led later rounds). Henri’s reputation as a crisp intellectual and rigorous executor from his days at Protocol Labs made us pay attention when we heard he was going to build a new company, and meeting his co-founder Asta gave us the conviction that this was going to be an n of 1 team for the mission.
Supporting 75 million accounts, over 1,000 developer teams and billions of transactions - Privy is a key enabling fabric for a plethora of crypto rails-based applications. We are ecstatic for the team, and have been in awe of their execution quality, drive and tenacity that powered them through the inevitable dark hours that arise on any entrepreneurial journey.
While discussing the merits of partnering with Stripe together, Henri said something to us that stuck: “it’s not a finishing line–it’s a starting line” - because Privy has also built a core pillar for the future adoption of stablecoins and the enablement of new financial applications. Teaming up with Stripe and working with the Bridge team, will allow Privy to tap into one of the internet's largest ecosystems to further execute on their vision.
Read more here: https://lnkd.in/gsKppP-y
It has been an honour to be on this journey together with Max Segall, Shaun Maguire, Meyer "Micky" Malka, Matt Huang, Caitlin Pintavorn, Electric Capital Avichal Garg, Archetype Ash Egan, Protocol Labs, Box Group, Coinbase Ventures, Joe Lallouz, Juan Benet, Molly Mackinlay, Brad Burnham, Jutta Steiner, Diogo Mónica, Sina Habibian, P Gelenbe, Alexander Lange, Garry Tan, Nicholas Chirls, Charlie Songhurst and many others!