AUSTIN, TEXAS, February 16, 2022- - Fundamental Labs, a blockchain and digital asset focused venture capital firm, has announced the recent hiring of Oam Patel as Senior Principal. Patel will primarily be responsible for deal sourcing and closing across the Eastern United States splitting his time between New York City, North Carolina and Miami.
Patel joins Fundamental Labs from Morgan Creek Digital where he was a Principal focused exclusively on crypto and digital asset themed investing. Patel became the youngest Principal in the firm’s history, after successfully leading efforts to launch the crypto and blockchain venture fund business.
Commenting on his move, Patel said “Fundamental Labs is growing to become a strong name in blockchain and digital asset investing, and I am excited to roll up my sleeves and help build its investing practice in the US. We have big ambitions for our next fund which will be a watershed moment for the firm, and I look forward to contributing to its growth.”
Patel will be working closely with Managing Partners Henry Love and Howard Yuan. In announcing the hire, Love said “We’re very excited to welcome Oam into the Fundamental Lab family. His experience and track record are integral to achieve our ambitious targets for 2022 and beyond. We will launch our sixth fund before mid-year and already have significant capital earmarked to invest in projects and founders who share our vision.”
Yuan added, “We’re building a young, talented and dynamic team in the United States and Oam will play a significant role in our success. We believe he will help Fundamental Labs to empower and connect more young talent to build and shape the exciting Web 3.0 ecosystem with us.”
Fundamental Labs kicked off 2022 with strategic investments in Metaplex SuperDAO, a project in the Solana ecosystem, and ICHI as part of its broad investment mandate that covers themes such as Web3, DeFi, NFTs, GameFi, and DAOs - at all stages of development. Earlier funds have counted Coinbase, Canaan, Filecoin and Polkadot as cornerstone investments. Total assets under management exceed US$1 billion across a series of five active funds.