AI meets blockchain: A VC’s plan to redefine tech
Anthony Georgiades, general partner at Innovating Capital, navigates the world of venture capital with the intensity of someone peering into the future, trying to discern which faint signals will evolve into the next big wave. At thirty-two, Georgiades is young for a VC, but his resume — stints at First Round Capital, operational roles at startups, and a dual degree in finance and computer science from the University of Pennsylvania — has earned him a reputation as a sharp-eyed investor in the volatile realms of Web3, cybersecurity, and enterprise infrastructure.
In a recent interview with CEO.com, Georgiades illustrated his journey from a finance student with entrepreneurial ambitions to a key player in one of tech’s most dynamic sectors. The conversation, which encompassed his early failures and his current obsession with decentralized finance, revealed a mind that thrives on complexity and contradiction — a fitting trait for someone navigating the often bewildering landscape of emerging technologies.
Georgiades’ path to Innovating Capital was circuitous. As a Wharton undergraduate, he launched a peer-to-peer marketplace that he describes as “a spectacular failure.” Technical glitches and poor market fit sank the venture, teaching him a lesson in humility. “I thought I knew everything, but I didn’t even know what I didn’t know,” he said. The experience pushed him to deepen his technical knowledge, pairing his finance studies with computer science courses. “I realized that to build something meaningful, I needed to understand the plumbing — the code, the systems, the architecture,” he said.
This combination of financial insight and technical proficiency became his hallmark. After graduating, he joined First Round Capital, a firm known for its early investments in companies like Uber and Warby Parker. There, he honed his ability to identify promising founders and technologies but felt inclined towards the operational side. “I wanted to get my hands dirty,” he said. He left to join startups, tackling product development and go-to-market strategies — experiences that now inform his approach as an investor.
At Innovating Capital, which he co-founded in 2020, Georgiades focuses on “disruptive investments.” The firm, with a portfolio that spans cybersecurity, enterprise infrastructure, and Web3, seeks out startups that are too early or unconventional for mainstream funds. One flagship project is Pastel Network, a blockchain-based platform for securing digital assets, which Georgiades co-founded. “Pastel is about giving creators and collectors confidence that their NFTs are protected,” he said, emphasizing infrastructure over hype.
The interview lingered on Web3, the decentralized, blockchain-based internet that many see as the digital world’s next phase. Georgiades is optimistic but pragmatic. “Web3 is messy right now,” he admitted. “Meme coins drive speculative bubbles, and that noise can drown out real innovation.” He highlighted Solana and Injective Protocol, two innovative capital portfolio companies, as examples of platforms that solve tangible problems like scalability and transaction costs. “These are the bets that excite me — technologies that handle real-world use cases, not just fuel Twitter hype cycles,” he said.
When asked about artificial intelligence’s role in Web3, Georgiades’ voice quickened. “AI is the rocket fuel,” he said. “It’ll supercharge decentralized systems — think smart contracts that adapt in real time or fraud detection that’s orders of magnitude better.” He pointed to Innovating Capital’s investments in AI-driven cybersecurity startups, including one using machine learning to detect blockchain vulnerabilities. “The future isn’t just Web3 or AI — it’s their interplay,” he said.
Georgiades’ enthusiasm is tempered by skepticism of the “move fast and break things” ethos. “Speed matters, but so does thoughtfulness,” he said. “You can’t just throw money at a problem. You need to understand the market, the technology, and the people.” This philosophy shapes Innovating Capital’s hands-on approach, often guiding portfolio companies through strategy or regulatory challenges.
Asked about the traits he seeks in founders, Georgiades was unequivocal: “Resilience is number one. The startup world is a rollercoaster, and you need people who can handle the lows without losing the vision.” Curiosity and adaptability also rank high, essential in a landscape where today’s breakthrough can become tomorrow’s footnote. “The best founders are always learning, always questioning,” he said. “They pivot when the data demands it.”
As the interview closed, Georgiades reflected on those who gave him a chance. He mentioned a First Round mentor who saw potential despite his inexperience. “That guy took a bet on me,” he said. “I try to pay that forward by backing founders who might not have shiny pedigrees but have the grit and vision to build something extraordinary.”
Georgiades’ story mirrors the tech ecosystem’s blend of ambition, failure, and reinvention. He operates in a high-stakes, uncertain world, yet his enthusiasm for technology’s possibilities is contagious. His parting thought lingered like a challenge: “We’re at the cusp of a new digital frontier, and the question isn’t whether it’s coming — it’s whether we’re ready to shape it.”
