CoVenture operates a venture capital firm, a direct lending business, and CoVenture Crypto, a cryptocurrency asset management firm run by co-founders Ali Hamed and Nikhil Kalghatgi. CoVenture Crypto operates multiple strategies and is backed by a large, publicly traded financial institution. Ali Hamed: During my freshman year at Cornell, I launched a software startup, and after that I started doing Angel investing. I didn’t have the capacity to write anything larger than a $25,000 check at a time and would find that when I tried to invest in people, they’d say the money was great, but what they really needed was help building the product. That made us think about how ridiculous the venture capital business model is – where you put $50 million into a fund and give out $1 million at a time to kids who can code and hope they can start a company – it just made no sense to us.