Accelerator programs offer mentorship and guidance in return for early equity.
Some Web3 startups are turning to accelerator programs as crypto enters a new bull market and investors look to get involved in the
For example, United States-based Y Combinator counts several crypto firms, such as Coinbase and OpenSea, among its alumni.the lineup for its spring 2024 crypto startup accelerator. The 25 startups will undergo a 10-week mentorship program in London led by the a16z crypto team. Operating partner Jason Rosenthal shared a list featuring projects including Farcaster infrastructure, decentralized food delivery and zero-knowledge passport authentication. Startups in a16z’s accelerator get $500,000 from the firm in exchange for 7% equity. Alumni include Flashbots and Phantom.
Lehman highlighted the rise of new crypto accelerators driven by funds aiming to boost their brand and deploy capital quickly. However, he warned of potential predatory practices among some accelerators: “Some accelerators are using the early stage at which they invest plus their proposed ‘value-add’ to come in and take extremely big positions in companies immediately. Founders should definitely think twice about whether the terms they’d accept from an accelerator are worth what they’d receive in return.
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