ev3

Investing

We invest up to $1m into early-stage decentralized infrastructure networks.

Team Fund Launch

Platform

Our community tracks undefined+ DePIN projects and undefined+ DePIN market cap.

DePIN Ninja Research

Network

Apply to + open roles across the DePIN ecosystem.

Jobs Board Podcast

Relentlessly Optimistic, Paranoid Skeptics...

...Bridging Crypto-Native Conviction with Founder-First Mindset.

EV³ backs exceptional entrepreneurs building decentralized infrastructure networks. We invest as early as possible and partner for the very long-term.

About Us

We are two institutionally-trained investors with a core shared belief that decentralized infrastructure networks will unlock the next $100T of global GDP.

Meet EV3

Our Thesis

Next-gen open infrastructure networks - in telecom, logistics, energy, cloud & machine intelligence - will spawn new digital commodities worth trillions.

EV³ is backed by leading investors.

CMT Digital

Castle Island Ventures

Marc Andreessen & Chris Dixon (a16z)

Ribbit Capital

Vance Spencer (Framework)

Multicoin Capital

Theta Capital

Variant

Thrive Capital

Endurance

Mike Zajko & Regan Bozman (Lattice)

Ash Egan (Archetype)

John Kim (Brewer Lane)

Jeff Morris Jr (Chapter One)

Dual Worlds

Meru Capital

Proof-of-Coverage Podcast

Interviews with leading DePIN founders.

All Episodes

Media Coverage

Explore Onchain Analytics.

Track DePIN projects across wireless, sensors, energy, compute & AI.

DePIN Ninja

	Project	30D Revenue	MoM Growth	Mkt Cap	Revenue Multiple
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DePIN Research

02.24

DePIN Dragon Prize Problems

12.23

State of DePIN 2023

05.23

Scaling Software Networks with Web3, Pt 3

04.23

Scaling Software Networks with Web3, Pt 2

04.23

Coke, Coupons & Capital Intensity: Web3 Coupons

03.23

Scaling Software Networks with Web3, Pt 1

12.22

State of DePIN 2022

11.22

FTX’s Token Death Spiral: When Junk Equity Goes Wrong

11.22

Reflections on DeWi Miner Economics

10.22

RF Physics for DeWi Investors

09.22

DeWi: Beyond Networks

09.22

DeWi Network Design Tradeoffs

07.22

DeWi: Unit Economics

06.22

On Digital Commodities Investing

06.24

DePIN Staking Pt1: Medallions

Our Team

EV³ is a thesis-driven investment firm that backs founders across the globe.

Mahesh Ramakrishnan

From Chennai and raised in New York, Mahesh studied Economics & Religion at Harvard University and started his career at Goldman Sachs. Before EV3, Mahesh was an investor in Apollo Global Management’s Private Equity business focusing on LBOs and new business creations in telecom and financial services.

Salvador Gala

From Venezuela and raised in Pennsylvania, Sal studied Mathematics & Economics at the University of Pittsburgh and started his career at Goldman Sachs. Before EV3, Sal was an investor at Ribbit Capital focusing on early- and growth-stage crypto and fintech investments globally.

Rocket Fuel for Networks