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M31 Capital

SUBMISSION REQUIREMENTS

Case Study Focus

 

Submit your highest conviction investment idea for a publicly traded token with a market cap over $5M USD. M31 Capital is a long-only, thesis-driven investment firm focused on blockchain-based token projects disrupting Wall St. (DeFi) and Silicon Valley (Web3), so priority will be given to submissions with a BUY recommendation on a token project within our focus (see below). 

The submission should clearly articulate your investment thesis and demonstrate a thorough understanding of the basics:

 

What problem does this technology solve? Who are the users/customers? Are they paying to use the product? How much of that revenue accrues to the token holders? Why can't a competitor copy this? Is the world a better place with this technology in it? Why will more people be using this product a year from now? 

Finally, you are expected to tie all of these factors back together into a specific price target based on your own valuation analysis included in the submission.

Sectors we like

  • Decentralized Finance (DeFi) 

  • Decentralized Storage, Compute, AI (Web3) 

  • Decentralized Physical Infrastructure Networks (DePIN)

  • Decentralized Wireless Networks (DeWi) 

Sectors we DON'T like

  • Gaming

  • Metaverse

  • Art NFTs

  • Memecoins

Case Study Requirements

 

Submissions must adhere to the following guidelines: Limit the document to 5 pages max, in PDF format, and it should encompass the following elements:

  • Investment thesis 

  • Analysis of tokenomics, business model, & comparison to competitors

  • Key tailwinds & key risk factors 

  • Valuation model & price target 

Pitch Competition

 

Top investment ideas will be selected for a Final Round, 30-minute virtual pitch competition in February 2024 for a chance to secure a spot in the Academy.

 

Each submission will be judged on the investment thesis and supporting analysis, taking into consideration the following factors:

  • Understanding of the business model and industry dynamics 

  • Quantitative and qualitative analysis 

  • Incorporation of onchain & alternative data 

  • Thought process & creativity

IMPORTANT DATES

October 15:

December 31:

January 15:

February 1:

March 1:

April 1:

June 1:

August 15:
​​

Applications Open

Deadline for case study submission

Notifications for Round 2 pitches

Round 2 pitches

Acceptances sent with program overview

Pre-program networking event (virtual)

Program starts in Dubai

Program ends

Deadline: December 31, 2023​

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