Investor Retrospective · Sequoia Capital
Investment thesis
Privy is addressing a fundamental change that Sequoia expects will redefine global finance over the next 20 years.
As we wrote in our seed investment memo, Privy is addressing a sea change that will redefine global finance over the next 20 years.
Why the firm invested
Sequoia led Privy's seed round in 2021 driven by deep relationships with founders Henri and Asta and strong conviction in their vision.
These deep relationships gave us strong conviction to be their very first believers, leading Privy’s seed round in 2021.
Product
Privy helped define embedded wallets as a core category for developers building on crypto rails.
Henri and Asta were early to recognize the importance of seamless onchain experiences and helped define embedded wallets as a core category for anyone building on crypto rails.
Traction
Over three years, Privy scaled to serve more than 75 million accounts across over 1,000 developer teams.
Over the past 3 years, the Privy team has done an outstanding job, scaling to serve 75M+ accounts across 1,000+ developer teams.
Team
Prior to founding Privy, Henri worked at Protocol Labs and Asta was one of the first engineers at Aurora.
Before Privy, Henri had done exceptional work at Protocol Labs and Asta was one of the first incredible engineers at Aurora.
Investment context
Privy is joining forces with Stripe to expand its reach and empower developers changing value movement on the internet.
Today, we’re thrilled to share that Privy will be joining forces with Stripe.
What founders can learn
- What actually moved the decision: Sequoia Capital wrote that Sequoia led Privy's seed round in 2021 driven by deep relationships with founders Henri and Asta and strong conviction in their vision.
- The traction evidence that carried weight: Sequoia Capital wrote that Over three years, Privy scaled to serve more than 75 million accounts across over 1,000 developer teams.
- How the team was judged: Sequoia Capital wrote that Prior to founding Privy, Henri worked at Protocol Labs and Asta was one of the first engineers at Aurora.
Source and provenance
Investor Retrospective published by Sequoia Capital on sequoiacap.com. Read the original
