{"id":"andy-kangpan","title":"Andy Kangpan","content":"**Andy Kangpan** is an American venture capitalist who is a co-founder and General Partner at Metalayer Ventures, an early-stage venture capital firm focused on [blockchain](https://iq.wiki/wiki/blockchain) and financial technology companies. Before co-founding Metalayer, he led [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) investment efforts at Two Sigma Ventures. His career has spanned venture capital and strategy consulting, with a consistent focus on emerging technologies. [\\[1\\]](#cite-id-DTvlbdpUWWxWk5L3) \n\n## Education\n\nKangpan attended New York University’s Stern School of Business, where he earned a Bachelor of Science degree. His studies focused on Finance and Marketing. [\\[2\\]](#cite-id-eOBLoeNgyWSDlovY)​\n\n## Career\n\nKangpan began his career in February 2013 as a senior associate at the strategy consulting firm Prophet. During his tenure, which lasted until June 2015, he was part of the founding team for the firm’s digital transformation practice and centered his work on digital technology. Following his role at Prophet, Kangpan transitioned to venture capital. From June 2015 to August 2017, he worked as an investor at ff Venture Capital in New York. In this position, he focused on sourcing and executing seed-stage investments in early-stage technology companies across multiple sectors. He has stated that this career transition was driven by a strong interest in supporting founders and helping to build companies from their earliest stages.\n\nIn September 2017, Kangpan joined Two Sigma Ventures as an investor. His focus at the firm initially included enterprise software and cybersecurity before shifting to a dedicated concentration on cryptocurrency and decentralized finance (DeFi). In January 2020, he was promoted to Digital Assets Lead, a role in which he guided the firm's crypto investment strategy. As Digital Assets Lead, Kangpan focused on early-stage companies from seed through Series B rounds, with a particular emphasis on those applying data science and other emerging technologies. His time in this role coincided with significant events in the crypto market, including the [Initial Coin Offering (ICO)](https://iq.wiki/wiki/initial-coin-offering) period and major market disruptions such as the collapse of the [FTX](https://iq.wiki/wiki/ftx) exchange. He held this position until his departure from the firm in August 2024. \n\nIn September 2024, Kangpan co-founded Metalayer Ventures alongside David Winton and Mickey Graham, and he currently serves as a General Partner. Metalayer Ventures is a New York-based, early-stage venture capital fund that provides \"first-check\" investments to technology-focused startups. [\\[2\\]](#cite-id-eOBLoeNgyWSDlovY) \n\n## Interviews\n\n### From Two Sigma to Metalayer\n\nIn a November 2025 episode of The Inquisitive VC podcast, Kangpan discussed his experience raising a venture fund and described rejection as a routine part of the fundraising process. He outlined his background at Two Sigma Ventures during the ICO period and explained how his focus on [crypto](https://iq.wiki/wiki/cryptocurrency) investing evolved following major market disruptions, including the collapse of [FTX](https://iq.wiki/wiki/ftx), which led to the founding of Metalayer Ventures. Kangpan described the firm’s investment thesis, centered on the transition of [blockchain](https://iq.wiki/wiki/blockchain) technology from infrastructure development to broader adoption, particularly within financial services. He explained that Metalayer plans to build a concentrated early-stage portfolio, targeting approximately 30 companies and deploying capital over several years. The interview addressed the challenges of fundraising in uncertain market conditions and the need to secure commitments from multiple limited partners. Kangpan also commented on current market trends, noting renewed interest in [crypto](https://iq.wiki/wiki/cryptocurrency) driven by developments in [stablecoins](https://iq.wiki/wiki/stablecoin), despite reduced venture activity compared to prior cycles. He highlighted an example investment in an institutional-focused [digital asset](https://iq.wiki/wiki/digital-assets) exchange to illustrate the type of companies the firm supports. [\\[4\\]](#cite-id-ret0mxMayapWjpB4) \n\n[YOUTUBE@VID](https://youtube.com/watch?v=a_uNKqvYuRk)\n\n### Real Decentralization\n\nIn a May 2025 interview on The Sure Shot Entrepreneur podcast, Kangpan discussed the development of [decentralized finance](https://iq.wiki/wiki/defi) and the emergence of large-scale protocols, including decentralized lending platforms and exchanges. He reflected on his career transition from brand strategy to venture capital, describing his interest in supporting founders and building early-stage companies. Kangpan outlined the role of a venture capitalist, including sourcing investments, conducting due diligence, and working closely with portfolio companies. He emphasized the importance of disciplined risk-taking and thoughtful capital allocation rather than speculative investing. The conversation covered Two Sigma Ventures’ involvement in [crypto](https://iq.wiki/wiki/cryptocurrency) and [DeFi](https://iq.wiki/wiki/defi) since 2018, highlighting the potential for greater financial inclusion. Kangpan also addressed the early-stage nature of the [DeFi](https://iq.wiki/wiki/defi) sector, noting that core infrastructure is still being developed. He discussed how he evaluates [crypto](https://iq.wiki/wiki/cryptocurrency) startups, stressing the need for founders to clearly define the problems they are solving and communicate effectively. Additional topics included the importance of understanding market dynamics, addressing customer needs, and his involvement in entrepreneurial education initiatives. [\\[3\\]](#cite-id-HVhbOLiK5ogSEKXH) \n\n[YOUTUBE@VID](https://youtube.com/watch?v=I0CoyST0upo)\n\n## Panels\n\n### VC Perspective\n\nAt [ETHDenver](https://iq.wiki/wiki/ethdenver) in March 2023, Kangpan moderated a panel discussion on the state of the [Web3](https://iq.wiki/wiki/web3) ecosystem, featuring Caitlin Pintavorn of [Paradigm](https://iq.wiki/wiki/paradigm), Shawn Cheng of ConsenSys Mesh, and Craig Burel of Reciprocal Ventures. The panelists outlined their respective investment focuses and reflected on the challenging market conditions, emphasizing continued commitment to building and supporting early-stage innovation. They discussed their interest in investing during the market downturn, particularly in projects that improve developer and user experiences. The conversation highlighted key milestones founders need to achieve to secure funding, including validating assumptions, forming strategic partnerships, and building strong teams. Each panelist shared their areas of interest, including zero-knowledge technologies, [crypto](https://iq.wiki/wiki/cryptocurrency)-enabled labor markets, and consumer-facing applications. The discussion also explored potential growth catalysts, including breakthrough applications, opportunities in emerging markets, and improved developer tools. The session concluded with examples of notable projects and closing remarks from Kangpan. [\\[5\\]](#cite-id-QBGlF5HaW6oQJpCu) \n\n[YOUTUBE@VID](https://youtube.com/watch?v=gROtWk4vgM8)","summary":"Andy Kangpan is a co-founder and General Partner at Metalayer Ventures, an early-stage venture capital firm focused on blockchain and digital assets. 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