From Bitcoin Enthusiast to VC: Dashan's Path to Crypto Success

Dashan, CEO and co-founder of Waterdrip Capital, first encountered Bitcoin in 2011 while studying abroad. He didn't invest until late 2012 and early 2013, when he started buying Bitcoin after it began to rise. To mine, Dashan used powerful computers assigned by his school for circuit simulation, but later had friends buy mining machines in China to host them.

Dashan resigned from Huawei HiSilicon in 2017 to enter the industry full-time and founded Waterdrip Capital. Before that, he was an amateur investor, and it wasn't until the ICO boom arrived in 2017 that he saw others, including Sequoia and IDG, entering the space. This made him think it might not be wrong to join full-time.

Waterdrip Capital's initial money came from pooling personal investments of its partners, who contributed equally and received the same equity. The company was formed in 2017, during the height of the ICO boom, and had already invested in several projects before its formal founding. Among its first few investments were Ethereum, Cosmos, and Polkadot.