DeFiance Capital

Arthur Cheong serves as founder and CIO, driving all investment decisions. Cheong built his reputation through a widely-followed crypto research newsletter before formalizing the firm. He is the central figure for sourcing, due diligence, and portfolio construction, supported by a lean Singapore-based team. No other investment committee members have been publicly named.

DeFiance relies heavily on its founder's public research and network. Arthur Cheong publishes investment theses, sector maps, and protocol analyses across Twitter and a newsletter, which draws inbound deal flow from founders who recognize his domain expertise. The firm also sources through crypto-native developer networks, particularly in Southeast Asia, and from relationships built during Cheong's years as an active angel investor before 2021.

DeFiance operates as a hybrid, often described as a liquid venture fund. The firm takes equity stakes in early-stage crypto companies but also actively trades liquid tokens on secondary markets. This crossover structure allows it to hold positions from seed-stage equity through to publicly-traded tokens, similar to crossover tech funds but tailored to the crypto market's unique liquidity profile.

The firm concentrates on three primary verticals: decentralized finance (DeFi) protocols, blockchain-based gaming and metaverse projects, and Web3 infrastructure including interoperability and scaling solutions. DeFiance has publicly stated a preference for high-conviction bets within these verticals rather than broad sector diversification, and it has historically avoided NFTs and meme coins as core strategy positions.

DeFiance pursues only direct deals — equity in startups and direct token purchases. The firm does not act as a fund-of-funds or invest in other managers. Its strategy relies on direct, concentrated exposure to protocols and companies, with Cheong making the final call on every position.