Founded by Christopher M. Dannen in 2016, Iterative introduced investors to a radical new thesis on early-stage technology investment. Through painstaking research, it showed the industry how a decades-old subculture of open source software-makers had set out in the 1980s to disrupt the corporate hierarchy predominant in Silicon Valley. We presented Bitcoin as their crowning achievement: an ad hoc human coordination machine, which uses unpaid, unplanned contributions in lieu of a salaried workforce, to create a cooperative financial network which extracts no rents. Well over a decade later, we believe Bitcoin’s impact on the business world is still not priced in.
Exposing investors to a mixture of proof-of-work mining, seed investment, and active management, Iterative has returned many multiples to its limited partners across three separate pooled vehicles.