Two Hop Ventures
ActiveVenture Capital
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Financial History
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Leadership Team
Key people at Two Hop Ventures.
Key people at Two Hop Ventures.
Key people at Two Hop Ventures.
# Two Hop Ventures: A Specialized Bitcoin SV-Focused Investment Firm
Two Hop Ventures is a traditional venture capital firm headquartered in Amsterdam that takes a highly specialized approach to blockchain investment.[2] Rather than pursuing a broad crypto or fintech strategy, the firm concentrates exclusively on the Bitcoin SV (BSV) ecosystem, investing in early-stage startups building infrastructure, protocols, and applications on the BSV blockchain.[2][4] The firm's mission centers on supporting projects that aim to secure the internet through blockchain technology, with a particular emphasis on leveraging Bitcoin SV's technical strengths and scalability characteristics.
The fund operates with a disciplined investment philosophy that distinguishes it from typical crypto venture firms. Two Hop Ventures explicitly does not acquire or handle crypto tokens of any kind, instead investing only in compliant securities.[2][3] This approach reflects a commitment to traditional venture capital structures while maintaining deep focus on blockchain infrastructure. Since completing its final closing in April 2024, the fund has raised €2.7 million and deployed over €1 million across its portfolio, achieving a remarkable 30x increase in book value across its investments.[3]
Two Hop Ventures was founded in 2018 as a private equity firm in the Netherlands.[5] The fund was established by Alex Fauvel, who serves as Founder and General Partner.[3] As a first-time fund manager, Fauvel built the firm with a clear thesis around Bitcoin SV's potential, positioning Two Hop Ventures to capitalize on the emerging infrastructure needs within that specific blockchain ecosystem.
The firm's evolution reflects a deliberate narrowing of focus rather than a pivot. From inception, Two Hop Ventures identified Bitcoin SV as the blockchain protocol most capable of delivering scalable, enterprise-grade solutions for securing internet infrastructure. This conviction shaped every aspect of the fund's strategy, from deal sourcing to portfolio support, allowing the team to develop deep expertise in a niche that many larger venture firms overlooked.
Unlike generalist crypto venture funds that spread capital across multiple blockchain ecosystems, Two Hop Ventures maintains an exclusive focus on Bitcoin SV startups.[2] This specialization enables the team to develop unparalleled domain expertise and identify opportunities that broader funds might miss or misunderstand.
The firm maintains strict standards for portfolio companies. Two Hop Ventures does not invest in startups lacking proprietary technology, proof of concept, viable market size, or experienced teams.[2] This disciplined approach filters out speculative ventures and focuses capital on companies with genuine technical and commercial merit.
By investing exclusively in compliant securities rather than crypto tokens, Two Hop Ventures operates within traditional venture capital frameworks while maintaining exposure to blockchain innovation.[3] This structure provides legal clarity, reduces regulatory risk, and appeals to institutional capital providers uncomfortable with direct token holdings.
The fund invests across pre-seed through seed stages, allowing it to support founders at various points in their journey.[3] This flexibility enables Two Hop Ventures to build relationships early and provide meaningful capital at critical inflection points.
Despite raising only €2.7 million—modest by venture standards—the fund has achieved a 30x increase in portfolio book value, demonstrating exceptional deal selection and value creation capability.[3]
Two Hop Ventures operates at the intersection of several significant technology trends. The firm is positioned within the broader blockchain infrastructure movement, where developers and enterprises increasingly recognize the need for scalable, secure protocols capable of handling enterprise-grade transaction volumes. Bitcoin SV's technical architecture, designed for high throughput and low latency, addresses this demand in ways that other blockchains struggle to match.
The timing of Two Hop Ventures' emergence reflects a maturation of blockchain thinking. Rather than chasing speculative token appreciation, the fund invests in the foundational layer—the companies building actual products, protocols, and services that create utility on blockchain networks. This infrastructure-first approach aligns with broader venture capital trends favoring companies solving real problems over those pursuing hype cycles.
The firm's existence also signals growing institutional recognition that blockchain innovation requires specialized expertise. Generalist venture funds often lack the technical depth to evaluate Bitcoin SV projects effectively, creating an opportunity for focused specialists to identify and support exceptional founders. Two Hop Ventures fills this gap, effectively serving as a bridge between the Bitcoin SV developer community and institutional capital.
Two Hop Ventures represents a compelling model for specialized venture investing in blockchain infrastructure. By maintaining unwavering focus on a single protocol while adhering to rigorous investment standards, the firm has built a differentiated position in a crowded venture landscape. The 30x portfolio appreciation demonstrates that this thesis-driven approach can generate exceptional returns when paired with disciplined execution.
Looking forward, Two Hop Ventures' influence will likely grow as enterprise adoption of blockchain infrastructure accelerates. Companies in the fund's portfolio that successfully build scalable solutions for real-world problems will validate the Bitcoin SV thesis and attract follow-on capital from larger institutional investors. This success could position Two Hop Ventures as a leading source of deal flow and expertise for the broader venture community seeking exposure to blockchain infrastructure.
The firm's future trajectory depends on several factors: continued technical innovation within the Bitcoin SV ecosystem, regulatory clarity around blockchain infrastructure, and the ability of portfolio companies to achieve meaningful commercial traction. If these conditions align, Two Hop Ventures could evolve from a specialized niche player into a recognized authority on blockchain infrastructure investment—proving that deep focus and disciplined capital deployment can outperform broader, more generalist approaches in emerging technology domains.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 1, 2022 | mintBlue | $2.0M Seed | — | — |
