With Jason Pritzker, The Pritzker Organization, Yasmine Lacaillade, SineFine
By Alejandro Ballesteros, Venture Investor, Decasonic
Jason Pritzker operates as managing director of The Pritzker Organization. Known as a strong leader of the community, Jason and his family have led various philanthropic efforts across Chicago. He is executive chairman of TMS International and serves on the board of directors of Hyatt Hotels Corporation, Lithko Contracting LLC and Omni Logistics. He held roles at The Marmon Group, Goldman Sachs, and Hyatt Hotels Corp. Today, Jason is on the Board of Trustees of the Museum of Science and Industry.
Yasmine Lacaillade is a founder and managing partner of sinefine, an alternative asset management firm that specializes in bringing the best in class female venture capitalists with innovative limited partners. Yasmine is an experienced leader in alternative assets and venture capital. After graduating from Princeton, she spent a decade in investment and investor relations roles at Artist Capital, Gruss & Co., and TPG-Axon Capital. Notably, before starting Sinefine, she was a key part of the leadership team at Drive Capital as Chief Operating Officer.
Private Equity Going Into Web3
The Pritzker Organization (TPO) has been in the private equity space for years, they are starting to expand into the venture space. Duration and Flexibility of capital are two key strengths that TPO has to stay optimistic in the current market environment.
They entered the venture space humbly and constantly sought partnerships with great managers. “If you are not paying attention to the Web3 and Crypto space, you are taking a very narrow view of what the future of technology would look like”, said Jason, confirming their optimistic perspective on the future of Web3.
Now you might ask: So who do they partner with in the Web3 venture space to gain a head start? “Go talk to Paul for any questions Web3”, Jason truly believes in the value Paul brings as a liaison for institutional investors not experienced in Web3. Jason described Paul as an incredible teacher and a subject matter expert with plenty of credibility and authenticity around emerging technology. TPO wants to work with builders and create meaningful contributions to the space with good intentions, which aligns with Paul’s values and aim to build the next-generation products that leverage blockchain technology.
Top Three Things to Look For in a New Market
“People, people, and people”, Jason stressed their philosophy of entering a new market. Over time, regardless of the industry, the scale, or the business model, the best people who want to create long-term value for society will always win.
Their people-first business philosophy is also reflected in their partnership with Paul. Paul acts as a great shepherd to guide Pritzker into the Web3 field.
Two Keys to Bring More Investors in
Around 75% of institutional investors look for risk-averse products. The volatile nature of Web3 stopped many investors from entering the game. Jason pointed out that in order to attract more investors, federal regulations must act as the main driver to set the boundaries of the industry. With the presence of regulatory clarity, investors then can evaluate the risks properly to make decisions.
Another point that Jason made is that Web3 is still a confusing concept for most people. People need to start seeing more applications in their daily lives to be able to start to believe in Web3.
“It will be a long journey”, Jason acknowledged the problem. He suggested that more investors will gradually enter the space through small initial forays, ”Even 5% of the current investment fund is a huge amount of volume.” Jason stated that it will have good times and bad times growing from zero to one, as long as people get more and more familiar and comfortable with the concept, it will be easier to allocate resources to it.
Advice for Incoming Builders
Curiosity always leads to great people. In the end, Jason encouraged all builders to stay curious and look for mentors who are willing to explain and teach them. Great people are able to explain complex concepts in a simple way—something rarely found today in the Web3 world. However, Web3 encourages an environment of sharing and curiosity. Pioneers must be able to explain their products in very simple ways so that everyone can understand.
This panel offered unique insights from top-tier traditional investors to builders about innovating in Web3. Decasonic shares the same goal, as we call on builders to work closely with us as investors to achieve mainstream adoption.
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