Financial Markets Ecosystem
Transformation Funds
Growing family of builders and innovators

 

Financial Markets Ecosystem
Transformation Funds
  Growing family of builders and innovators

 

Humla /H.oo.m.la/

XBTO Ventures invests in world-class entrepreneurs transforming markets and ecosystems, with a focus on finance, artificial intelligence, and Crypto-finance. Learn more about our deal flow and strategy.

region:
The northernmost region of The Great Himalayan Trail in Nepal and a stepping-stone to the sacred Mount Kailash in Tibet.

noun:
A pollinating Bumblebee in Swedish.

 

XBTO Humla Investments Portfolio

Including all investments advised or oversought by XBTO Humla Venture Capital: Including XBTO, XBTO Ventures, Fund investments, SPVs, and Fund Investments

Team

We are a team of veteran private equity & hedge fund professionals, entrepreneurs, investment bankers, data scientists, software developers, accountants  and company builders committed to exceptional returns for investors and helping scale transformative businesses.

Our firm sits upon the XBTO global infrastructure, with over 70 traders, market makers, programmers, and cryptofinance professionals and thought leaders all over the world. Deal flow, due diligence, and key macro insights are easily accessible.

Venture capital is about integrity, relationships and investment access. Our network, built through decades of successful investing, deals, speaking engagements, philanthropy, and providing expertise in global forums for business leaders and governments is a key differentiator.

  • Veterans in Markets Finance.
  • Veterans in Technology Finance.
  • Veterans in Global Business.
  • Veterans in Digital Assets and Fintech.
  • A combination of track record and specialised focus unique in Private Equity.

Greg Carson

Managing Partner

  • Over 20 years in tech, VC investing & investment banking, at UBS Investment Bank, and GU Ventures
  • Head of Ventures/Corp Dev of XBTO Group
  • M&A 25+ deals in 20 countries($2.4B)
  • UCSD, MIT, UPenn
  • Wharton MBA

Philippe Bekhazi

Venture Partner

Philippe Bekhazi leads the XBTO Group, one of the world’s largest and most diversified participants across cryptofinance.

XBTO is active in market-making, OTC trading, venture capital, mining, and other areas related to digital assets. Founded in 2015, XBTO was the first large-scale liquidity provider on digital asset trading platforms.

XBTO is sponsored by Derivee Capital, which Philippe founded in 2009 to incubate ventures in financial technology and other growth industries.

Previously, Philippe created trading, portfolio management, and risk management solutions for clients trading equities, FX, rates, and credit instruments. He worked for leading companies, including Calypso Technology and Citibank. Philippe also spent four years at SAC Capital Advisors, where he helped build the global macro desk.

Philippe has Bachelor of Science degrees in Finance and Communications from Syracuse University, where he graduated with Honors.

Walton Comer

Venture Partner

Walton Comer manages trading and risk management. He also develops and optimizes the trading algorithms.

Walton was one of the first algorithmic traders to provide liquidity to major crypto exchanges. He was a key figure in the formation of the CME strategy for crypto futures.

Before XBTO, Walton was a founder and principal at Falcon Bridge Partners, a high-frequency commodities trading platform. He served as a Vice President of Risk at SAC Capital Advisors. He was a Director of Research at Thornhill Partners, a media consulting firm where his clients included IBM, NBC, Viacom, and PBS. Walton is a director of Lucid, a media technology company that he co-founded.

Walton earned a Master of Science degree in Mathematics of Finance and a Bachelor of Science degree in Electrical Engineering from Columbia University, plus Bachelor of Science degrees in Mathematics and Physics from University of the South.

Paul Philips

Principal and SVP, Venture Capital

  • Over 20 years in executive management, start-up funding, consulting, and investment banking, at Raymond James, Price Waterhouse, and EQV Partners
  • M&A 50+ deals
  • University of Florida
  • Avid skier, musician and yogi

Hugues Dongmo

Investment Manager and Vice President, Venture Capital

  • 14 years of experience in derivative pricing and risk management at HSBC, Societe Generale, SOFI, and more
  • Experience with equity research in public and private markets in emerging markets
  • Passionate salsa dancer, long-distance runner, rollerblader, and scuba diver
  • Columbia Business School, MBA

Kasia Kostun

Investment Manager and Senior Associate, Venture Capital

  • 8 years of financial and project management experience at General Electric, NYU and private equity firms
  • NYU Stern School of Business, MBA
  • Saxophone player in a brass band, water sports and free diving lover

 

Strategy and Platform

XBTO

XBTO was founded in 2015 as the first entity to provide institutional grade liquidity for digital assets and continues to grow and shape the market. At XBTO Humla we invest in early-stage companies transforming the financial ecosystem. Through strong partnerships, resources, community, and co-investor networks, we provide both capital and guidance with the goal of helping founders build a better financial system.

Strategic LP & Partner

We believe a deep support network increases the probability of a company's success, and also results in deeper insights and accelerated growth. As a result, we have created a unique venture capital model for today's exceptional fintech companies. XBTO has deep relationships with a network of market makers, blockchain strategists, banks and strategic partners, connecting you to the business leaders who may be your future clients, investors, board members, etc.

Co-Investors

XBTO Humla Ventures has an extensive investor network to help our portfolio companies secure future financing from quality, institutional and Ultra High Net Worth investors.

Community

Online communities give VC companies a more efficient way to facilitate communication across various network segments. However, at XBTO Humla we believe in strengthening the virtual connections with in-person events. As a result, XBTO Humla has been the proud sponsor of the Bitcoin Conference and the jersey sponsor of its local team, Inter Miami.

Humla

Resources

XBTO Humla is a resource for early-stage companies paving the new economy. Humla assists portfolio companies with a range of services including marketing, branding, communications, staffing, design, and strategy. Every portfolio company benefits from the full backing of XBTO Humla and its affiliates.

Partnerships

Our network of partners is our biggest added value. Before founding XBTO, our leadership has led Wall Street hedge funds and investment banking teams, built successful businesses, backed entrepreneurs, and enabled great success stories. XBTO has created an ecosystem for companies, thought leaders, and influencers to connect and thrive together.

Investment Philosophy

We lead the evolution of the fintech ecosystem as one of the biggest and most reputable innovators and investors in digital assets and seize the best early-stage prospects. XBTO Humla utilizes a global network of top VCs, industry titans, and co-investors in addition to an exclusive transaction flow.

XBTO Humla Investment Strategies

Defi/NFT Infrastructure micro fund

Reach out to the investing team for further information.

Strategic LP & Partner

Our network, technology-first philosophy, and deep blockchain origins make us particularly adept at identifying high-potential- early stage startups. Our five-year track record and constant striving for improvement give us confidence in our strategy.

Growth Fund

Reach out to the investing team for further information.

Venture Fund of Funds

We regularly provide SPV opportunities to our LPs and investment partners. These SPV direct investment opportunities are typically focused on growth or early stage companies that are excess capacity alongside our fund or part of our participation rights from our portfolio. If you'd like to receive regular opportunities, please click here.

Financial Ecosystem transformation

With its counter positioning and its superior value proposition, Bitcoin is transforming vast swaths of our economy. We based the fund thesis on the upcoming changes to our financial system and exposed our investors to the value generation of this disruptive technology.

SPVs

We regularly provide SPV opportunities to our LPs and investment partners. These SPV direct investment opportunities are typically focused on growth or early stage companies that are excess capacity alongside our fund or part of our participation rights from our portfolio. If you'd like to receive regular opportunities, please click here.

xAlpha Multi-Strategy Hedge Fund

XBTO develops various strategies in the crypto markets. xAlpha, Humla's partner, is a liquid strategy developed in collaboration with XBTO Asset Management and Appian Way.
The fund seeks to exploit our knowledge and success in digital asset trading and investing to construct an ALPHA focused fund with low volatility, leveraging our risk management skills. We will be deploying capital across digital assets, equities, FX, interest rates and derivatives.
Learn more

Events

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Interest

Bitcoin/Web3.0/Crypto Training Database

MONEY
Money
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Functions of money self-study Book: The Bitcoin Standard (Chapter 1)

Functions of Money

What Bitcoin Did Podcast: What is Money?

Money demand and supply and gov money self-study Book: The Bitcoin Standard (Chapter 4)

Fiat Money Explained

Bitcoin Standard: How money works?

Money and Time Preference self-study Book: The Bitcoin Standard (Chapter 5)

Time-Preference Theory

Bitcoin Standard: Money and Time Preference

Individual Freedom self-study Book: The Bitcoin Standard (Chapter 7)

Definition of Sound Money

Bitcoin Standard: Why our current money system doesn’t work

Digital Money self-study Book: The Bitcoin Standard (Chapter 8)

Digital Money vs Cryptocurrencies

What Bitcoin Did Podcast: Bitcoin vs Banks

CRYPTOCURRENCIES
Cryptocurrencies
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Bitcoin Explained self-study

Book: Mastering Bitcoin

 

What Bitcoin Did Podcast: What is Bitcoin?

Bitcoin White Paper self-study

Bitcoin White Paper

Bitcoin White Paper: Summary

Ivan on Tech: Bitcoin White Paper explained

Bitcoin theory self-study 21 Days of Bitcoin: Bitcoin Explained

Bitcoin Explained

Antoine's talk

Bitcoin Technology* self-study    

Alvaro's talk

Bitcoin Myths self-study Crypto Theses for 2022

Bitcoin Mythology

10 WORST Crypto Myths

Bitcoin and Financial Transformation self-study Book: The Internet of Money

The Pioneer of Financial Revolution

What Bitcoin Did Podcast: Financial Transformation

The Future of Bitcoin self-study  

CoinDesk: Future of Crypto

What Bitcoin Did Podcast: The Future of Bitcoin

Bitcoin and Energy Consumption self-study

Bitcoin Energy Consumption

Bitcoin Emission

What Bitcoin Did Podcast: The Truth about Bitcoin Energy

Ethereum Explained self-study

Book: Mastering Ethereum

Ethereum Guide

 
Intro to Ethereum self-study Book: Mastering Ethereum (Chapter 1)

Intro to Ethereum

What is Ethereum?

Intro to Ether self-study Book: Mastering Ethereum (Chapter 2)

Intro to Ether

What is ETH?

Ethereum Gas self-study Book: Mastering Ethereum (Chapter 7)

Gas and Fees

What is Ethereum Gas?

Smart Contracts self-study Book: Mastering Ethereum (Chapter 7)

Smart Contracts

Smart Contracts Explained

Stablecoins Explained self-study Book - How to DeFi: Beginner - Chapter 5

Stablecoins

What is a Stablecoin?

Altcoins self-study Book: Mastering Bitcoin (Chapter 9)

Everything about Altcoins

What Bitcoin Did Podcast: Altcoins

BLOCKCHAIN
Blockchain

Sub-Topic

Mode of training

Reading (book)

Reading (articles)

Podcast or video

Blockchain Explained self-study Book: Mastering Bitcoin (Chapter 7)

Blockchain for Dummies

What is Blockchain?

Proof of Stake self-study  

Proof of Stake

What is Proof of Stake?

Proof of Work self-study  

Proof of Work

What is Proof of Work?

Blockchain Applications self-study  

Blockchain Use Cases & Applications

Blockchain Applications

Platforms self-study      
Ethereum self-study

https://ethereum.org/en/

Insights into Ethereum Ecosystem

What is Ethereum?

Cardano self-study

https://cardano.org/

What is Cardano?

What is Cardano?

Solana self-study

https://solana.com/

What is SOLANA?

What is Solana?

Ripple self-study

https://ripple.com/

The potential of Ripple

What is Ripple?

Stellar self-study

https://www.stellar.org/?locale=en

What is Stellar?

What is Stellar?

Polkadot self-study

https://polkadot.network/

Polkadot Explained

What is Polkadot?

LIGHTNING NETWORK
Lightning
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Lightning Explained self-study Lightning Network Paper

Lightning Networks for Beginners

What Bitcoin Did Podcast: Lightning Network

Multisignature Wallet self-study

A Deep Dive Into Lightning as a Bitcoin Scaling Solution_CoinDesk Research

Multisig Wallets

Is Multi-sig for the Average User?

Lightning Channel Nodes self-study  

The Lightning Nodes - A beginner's guide

What Bitcoin Did Podcast: Running a Node

Payment Channel self-study  

Payment Channel

How Payment Channels work?

How to use Lightning Network self-study

Mastering Lightning Network by Andreas Antonopoulos

How to use the Lightning Network?

What Bitcoin Did Podcast: Mastering Lightning

CRYPTO EXCHANGES
Crypto Exchanges
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Binance self-study

https://www.binance.com/en

Binance vs Coinbase: comparison

Binance Tutorial

Coinbase self-study

https://www.coinbase.com/

Coinbase review

Coinbase Tutorial

FTX self-study

https://ftx.com/

Binance vs FTX

FTX Tutorial

Bitstamp self-study

https://www.bitstamp.net/

Bitstamp review

Bitstamp Tutorial

WALLETS
Wallets
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
What is a Crypto Wallet? self-study  

Insider: What is a Crypto Wallet?

What is a Crypto Wallet?

MetaMask self-study

https://metamask.io/

MetaMask Guide

What is MetaMask?
Blockstream Green self-study

https://blockstream.com/green/

Blockstream Green: Guide

How to use a Bitcoin wallet: Blockstream Green

Coinbase self-study

https://www.coinbase.com/wallet

Coinbase Wallet FAQ

Getting Started with Coinbase Wallet

Ledger self-study

https://www.ledger.com/

The best crypto wallets

Hardware Wallets Explained

DEFI
DEFI
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
DeFi Explained self-study Book - How to DeFi: Beginner - Chapter 2

DeFi in crypto

What is DeFi?

Decentralized Exchanges self-study Book - How to DeFi: Beginner - Chapter 7

What are decentralized exchanges?

What is DEX?

AMM self-study Book - How to DeFi: Beginner - Chapter 7

Binance Academy: What is an AMM?

What is an AMM?

Liquidity Pools self-study Book - How to DeFi: Beginner - Chapter 7

Binance Academy: What are Liquidity Pools in DeFi?

What is a Liquidity Pool?

Yield Farming self-study Book - How to DeFi: Beginner - Chapter 9

Binance Academy: What is Yield farming in DeFi?

What Bitcoin Did Podcast: Bitcoin Borrowing and Lending Markets

Staking self-study Book - How to DeFi: Beginner - Chapter 9

Staking Vs. Yield Farming Vs. Liquidity Mining – Key Differences

What is Staking?

Lending and Borrowing self-study Book - How to DeFi: Beginner - Chapter 6

DeFi lending and borrowing, explained

Lending and Borrowing in DeFi Explained

Crypto Derivatives self-study Book - How to DeFi: Beginner - Chapter 8

What are Crypto Derivatives?

What Bitcoin Did Podcast: Bitcoin Derivatives

Deribit self-study

https://www.deribit.com/

 

How to trade Bitcoin Options?

Binance (Futures) self-study

https://www.binance.com/en/futures

 

How to trade crypto futures?

Bybit self-study

https://www.bybit.com/en-US/

 

Bybit Tutorial

FTX (Derivatives) self-study

https://ftx.com/markets/future

 

FTX tutorial

DeFi Protocols self-study Book: Mastering Ethereum (Chapter 12)

Most Popular DeFi Protocols

 
Aave self-study  

Introduction to Aave

What is Aave?

Compound self-study  

cTokens - Introduction

Compound Explained

Polygon self-study  

Understand Polygon Better

What is Polygon?

Sushiswap self-study  

Sushiswap: Introduction

What is SushiSwap?

Synthetix self-study Book - How to DeFi: Beginner - Chapter 8

Synthetix Overview

How does Synthetix work?

Uniswap self-study Book - How to DeFi: Beginner - Chapter 7

Intro to Uniswap

What is Uniswap?

TOKENOMICS
Tokenomics
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Tokenomics Explained self-study  

Tokenomics - Guide for Beginners

Tokenomics Explained

DAO self-study  

DAO Explained

What is DAO?

Tokens self-study Book: Mastering Ethereum (Chapter 10)

Tokens Explained

Coins vs Tokens

ICO self-study Book: Mastering Ethereum (Chapter 10)

ICO Explained

What is ICO?

Valuation self-study

Valuation of crypto-assets

Token Valuation

How to evaluate tokens?

NFTs
NFTs
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
NFTs Explained self-study  

NFTs for Dummies

What is NFT?

  self-study    

What Bitcoin Did Podcast: Tokenized Securities and NFTs

NFT Platforms self-study  

10 Top NFT Marketplace

Top 5 NFT platforms

OpenSea self-study  

https://opensea.io/

OpenSea Guide

SuperRare self-study  

https://superrare.com/

SuperRare Guide

NFT Utility self-study  

Utility NFTs

NFT Utility Explained

How to make money with NFT? self-study  

How to make passive income with NFTs?

How to buy and sell NFTs for profit

WEB 3.0
Web 3.0
Subtopic Mode of training Reading (book) Reading (articles) Podcast or video
Web 3.0 Explained self-study

Report: Framing the Future of Web 3.0 by Goldman Sachs

Binance Academy: The evolution of Internet

What is Web 3.0?

Metaverse self-study  

Consensys report

Meta: The Metaverse

Blockchain Polkadot self-study

Polkadot White Paper

Polkadot and Web 3.0

What is Polkadot?

Books & Courses

Courses
Courses
Course Name Format Price Start date

Link

DeFi Academy Online + Weekly workshops $2,497 FOUR WEEK PROGRAM beginning of January 2022

https://londonreal.tv/defi-academy/?utm_source=londonreal&utm_medium=sidebar_cta&utm_campaign=defi

Decentralized Finance (DeFi): The Future of Finance Specialization Online Coursera prices (free if only videos) whenever

https://www.coursera.org/specializations/decentralized-finance-duke

Blockchain & Bitcoin 101 (Ivan on Tech) Online

https://academy.moralis.io/pricing

whenever

https://academy.moralis.io/courses/blockchain-bitcoin-101

DeFi 101 Online

https://academy.moralis.io/pricing

whenever

https://academy.moralis.io/courses/defi-101-old

DeFi 201 Online

https://academy.moralis.io/pricing

whenever

https://academy.moralis.io/courses/defi-201

Crypto Academy   $249.00 USD  

https://www.cryptoacademy.us/

Books
Books
Theme Book Name Link
Crypto & Blockchain The Bitcoin Standard by Saifedean Ammous

Book: The Bitcoin Standard

Crypto & Blockchain Mastering Bitcoin by Andreas M. Antonopoulos

Book: Mastering Bitcoin

Crypto & Blockchain Mastering Ethereum by Andreas M. Antonopoulos

Book: Mastering Ethereum

Crypto & Blockchain The Internet of Money by Andreas M. Antonopoulos

Book: The Internet of Money

Crypto & Blockchain Bitcoin Billionaires by Ben Mezrich

Book: Bitcoin Billionaires

Crypto & Blockchain The Fiat Standard by Saifedean Ammous

Book: The Fiat Standard

DeFi How to DeFi: Beginner by Kain Warwik

Book: How to DeFi: Beginner

DeFi DeFi and the Future of Finance

Book: DeFi and the Future of Finance

Lightning Mastering Lightning by Andreas M. Antonopoulos

Book: Mastering Lightning