Kyle Samani leaves Multicoin in ‘bittersweet moment’ to explore new tech

Kyle Samani, the highly influential co-founder and managing partner of Multicoin Capital, has announced his departure from the firm. The move, described by Samani as a “bittersweet moment,” marks the end of his leadership role at the venture capital giant he helped establish nearly eight years ago. Samani stated his intention is to step away from traditional investment duties to focus on exploring and building new technologies, particularly those at the intersection of AI and crypto infrastructure.

Multicoin Capital, co-founded by Samani and Tushar Jain, quickly became one of the most prominent hedge funds in the crypto space, known for its bold, long-term thesis-driven investment strategy. Under Samani’s guidance, the firm made seminal early-stage investments in protocols like Solana, Helium, and Render, often emphasizing the necessity of better scaling solutions and decentralized coordination mechanisms. His departure comes at a critical time for the digital asset industry, which is grappling with renewed regulatory scrutiny and a complex technology landscape.

While Samani is leaving his formal investment role, he confirmed he will remain a strategic advisor to Multicoin, ensuring a smooth transition. Tushar Jain, the remaining co-founder, will continue to lead the firm’s investment strategy alongside partners John Robert Reed and Mable Jiang. The firm emphasized that its long-term strategy and commitment to its existing portfolio companies remain unchanged.

Samani has often articulated a profound interest in the operational and infrastructural challenges facing Web3. His decision reflects a growing trend among successful venture capitalists who opt to pivot back toward operational roles. In a public statement, Samani noted, “The pull to build something fundamentally new, especially as the lines between decentralized compute and AI blur, is simply too strong to ignore. I’m immensely proud of what we achieved at Multicoin, but now it’s time for a new chapter focused on shipping code and deploying infrastructure.”

Source: Kyle Samani leaves Multicoin in ‘bittersweet moment’ to explore new tech