TUSHAR JAIN

Jain came to crypto early, as an investor and enthusiast, before turning it into a career. In 2017 he co-founded Multicoin Capital in Austin, Texas, with Kyle Samani.

The two shared a belief that a small number of crypto networks would win big, so the fund concentrated its money rather than spreading it around. Jain focused much of his work on market structure, decentralized finance, and how tokens make money for the people who hold them.

As Multicoin grew into a major crypto fund, he became one of its most respected thesis writers.

Multicoin Capital is the center of everything for Jain. It is a crypto fund that buys both liquid tokens and stakes in early startups, run on a concentrated, high-conviction style.

Its signature bet is Solana, backed early and held through the swings. Multicoin has also invested across decentralized finance, infrastructure, and other corners of crypto.

Jain co-founded and helps run the firm alongside Kyle Samani, sharing the managing partner role and the big decisions.

Jain thinks in terms of how a token actually captures value. Lots of crypto projects have coins, but only some give holders a real claim on what the network earns.

He hunts for the ones where the token and the business line up. Like his partner, he favors concentration, a few strong bets over a scattered portfolio.

He is drawn to decentralized finance and market structure, the plumbing of how crypto trading and lending really work. Basically, he wants to own the networks that turn activity into value for the token.

Solana is the headline win for Multicoin, and Jain owns a share of that call. The fund backed Solana when it was an unproven fast blockchain, and the token later surged during the 2021 boom, returning many times the investment at its peak.

Multicoin's flagship fund posted some of the best numbers in crypto that cycle. Jain and Samani had argued the thesis for years while doubters piled on.

When it worked, it worked enormously.

FTX is the shared scar. Multicoin held a meaningful slice of the fund's assets on the exchange when it collapsed in November 2022.

The firm warned investors it could lose a large part of that money, and the flagship fund dropped sharply. It was a hard lesson in counterparty risk, the danger that the place holding your money fails even if your bets are fine.

For a fund built on conviction, the damage came not from a bad call on a coin but from where the coins were parked.

Jain believes crypto is a rare chance to own the infrastructure of a new financial system early. He favors deep research, strong theses, and concentrated bets over caution and spreading thin.

He cares a lot about whether a token genuinely shares in a network's success, not just whether the project sounds exciting. And he is willing to sit through brutal volatility if the long-term case holds.

Conviction first, comfort second.

Jain keeps his personal life private, which fits his lower-key public style. What is on the record is the partnership.

He and Kyle Samani have run Multicoin together since 2017, a rare crypto duo that has stayed intact through boom, bust, and the FTX mess. He is based in the Austin tech world the firm calls home.

Jain has kept the details of his schooling out of the spotlight. His real training has been the crypto market itself, which he entered early and studied obsessively.

Co-founding and running Multicoin since 2017 put him through every kind of market, from euphoric highs to the FTX-driven lows. In crypto, that track record teaches more than most classrooms.

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