Anatoly Yakovenko, the co-founder of Solana Labs, recently shared the arduous journey he undertook to raise funds for the establishment of Solana, a prominent blockchain platform. According to Yakovenko, this endeavor began approximately six years ago and involved extensive networking and participation in cryptocurrency events.
Overcoming Hurdles: Handshake Angel Checks
Yakovenko recalled the challenges he faced during the initial fundraising phase. It took him over two months and hundreds of pitches to secure $500k worth of handshake angel checks. Notably, most venture capitalists at the time were skeptical, believing that the “alt L1 thesis” had already been exhausted.