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Wintermute CEO: Transitioned from Scattergun Investing, Project Investment Approval Rate Only 4% by 2025
Summary: Wintermute founder and CEO Evgeny Gaevoy stated that Wintermute has transitioned from the scattergun investing approach of 2021-2022 to a project approval rate of only 4% today. Wintermute Ventures completed 23 investments in 2025, mainly leading Pre-Seed and Seed rounds, investing independently of market-making (MM) authorization and trading operations. Wintermute Ventures announced that in 2025, ...
Wintermute founder and CEO Evgeny Gaevoy stated that Wintermute has transitioned from the scattergun investing approach of 2021-2022 to a project approval rate of only 4% today. Wintermute Ventures completed 23 investments in 2025, mainly leading Pre-Seed and Seed rounds, investing independently of market-making (MM) authorization and trading operations. Wintermute Ventures announced that in 2025, they reviewed around 600 companies, with 20% entering formal due diligence and only 4% receiving funding. The most common funding structures in 2025 were equity/SAFE and token convertible equity, matched to the founder's long-term vision for the project.
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Link: Wintermute CEO: Transitioned from Scattergun Investing, Project Investment Approval Rate Only 4% by 2025 [Copy]
