Le crypto fellowship logo
frst logo whitecrossfabric ventures logo

The rise of web3 creates an infinite array of opportunities up for grabs by the most daring entrepreneurs

Intro

Imagine a nascent Far West town during the gold rush. There is demand for a saloon, a barber, an hospital, a bank, a grocery store, a tailor... There is a need for roads, telegraph cables, water pipes, stagecoaches… Everything.

The clients are already waiting for the products to be built, waiting to pay handsomely with the gold they just extracted from the mountain. Even basic versions are considerably better than nothing as a starting point in absence of competition. Even the Sheriff understands that.

But there are not enough entrepreneurs to build these products. Few people had the courage to make the trip ("Too late!" "Not a proper career!" "Too expensive!"), and many of the early joiners in the space are either freedom lovers who don’t want to embark into entrepreneurship, or rich already, or both.

It’s way easier to succeed in a young world where ideas are abundant, rules are simple and good entrepreneurs scarce than in an established world with heavy competition and scarce opportunities.

This is exactly what’s happening currently in web3. And the 1,5 trillion $ of value created in a few years by the industry makes the physical gold rush look like a lemonade stand in comparison.

Introducing
Le Crypto Fellowship

30
People
€100k
Each

Le Crypto Fellowship is a program led by two VC firms, Frst (French seed specialist) and Fabric Ventures (crypto specialist) aimed at creating a new generation of web3 entrepreneurs in Europe.

In 2 seasons we helped 30 ambitious technical people in Europe providing €100k each to live, learn and experiment for a year. Doors are always open for new talents so it's time to apply if you fit. No previous web3 experience is required and the only catch is that if you end up building a company we will own 7% of it and may later ask to invest an additional €700k on pre-defined terms (final ownership of 20%).

the year

The €100k ticket provides
12 months runway

€50k salary (€71k incl. taxes), plus €29k to cover expenses (lawyers, computer, Ethereum fees…)

The idea is to spend the first 2-3 months learning and playing, without consciously looking for a “startup idea”. If this learning and playing is done with sincerity and passion you will end up living in the future and quickly notice what is still crucially missing.

Building will come naturally.

Classes on web3

You will learn 99% by yourself from online resources: Twitter, Reddit and Stack Overflow, but we will give pointers to save you time.

Weekly Office Hours

To allow you share your progress or struggles, and to problem solve them with your dedicated Partner, Frst & Fabric Ventures.

Discord group

For knowledge sharing between cohort members. 

Meetups

With legendary web3 entrepreneurs and investors.

Dedicated Partners

You’ll have a dedicated partner & mentor coming from a top tier web3 company. He’ll be your best friend during the program.

Perks

We've got privileged access to the best tools and services founders need in the early days of building their product.

the deal

The law doesn’t permit investing directly into individuals, so we will ask each fellow to create a company. It will have to be a French one, to allow us to standardise the paperwork. We could have chosen Delaware as Y Combinator does, but France is cooler.

Here is how it will work.

The reason for which we are running Le Crypto Fellowship is clear and there is no ulterior motive.

First ticket

At company creation, you will receive a first ticket of €100k in exchange for 7%. It will be structured in BSA Air (French equivalent of US SAFE) "post money" and will convert at Series A. This way, the BSPCE (stock options) you will grant to cofounders and early employees won't dilute the 7% (Series A will be defined as a round supra €3m). 

Second ticket

Option for the Fellowship to add €700k within 12 months and grow to 20% total ownership (which means a €5m post money valuation for this second ticket). Still in BSA Air, for the same reasons. 

BSA Air

The BSA Air documentation will encompass elements of Shareholders Agreement, including the following:

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  • If we can't determine that everything crypto-related you do during this period is owned by the company, the schema can't work, it consequently has to be written. Same logic applies if you decide to close the "company" and open a new crypto-related one just after

  • Until the 12-month option expiration, external financing rounds will be conditioned to Frst & Fabric approval (because it's not supposed to happen)

  • No constraints on how you spend the money and what you do

  • No constraints on how much BSPCE you emit and to whom you grant them (because it doesn't dilute us thanks to the BSA Air mechanism)

profile

We are looking for curious doers with technical abilities

No prior web3 knowledge is expected, but people able or learning to code will have a head start.

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Code-friendly

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High agency & curiosity

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No "business idea" required

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Based in EU timezone

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Available now

People already running a company are welcome to contact us, but not for the program.

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No taste for code

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Bad self-learner

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Already have a product

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Based on another timezone

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Available part-time

partners

You’ll need allies during your journey

That’s why we partnered with the best builders in web3 to join LCF family. Partners are mentors, dedicated to you and your journey.
You’ll both get in touch every week during the program though zooms and discord chats.

Become a partner
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Brian O'Hagan
Growth Lead - Sorare
Pablo Veyrat
Core Contributor and Co-Founder - Angle Protocol
Guillaume Nervo
Core Contributor and Co-Founder - Angle Protocol
Picodes
Core Contributor and Co-Founder - Angle Protocol
Scott
Founder - Genie.xyz
Kaito Cunningham
Co-founder - Utopialabs
Charles Hamel
VP product - Ledger
Ambre Soubiran
Founder & CEO - Kaiko
Alex Svanevik
Co-founder & CEO - Nansen
Julien Bouteloup
StakeDAO - Rekt - Blackpool - Curve
Alexis Robert
Partner - Kima Venture
Gabagool
Founder Infotoken & veDAO
Marc Zeller
Head of Developers Relations - Aave
Hadrien Charlanes
Founder - Sismo
Pierre Duperrin
Lead Blockchain Engineer - Sorare
Fabien
Co-founder & CEO - Snapshot
apply

LCF Spring 2022 application doors are open.


As it's a rolling process, it goes fast.
🚨 Basically, don't wait to apply 🚨

Apply now
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Starting date: May but feel free to apply even if the program started.

If you want to say hi hello@lecryptofellowship.com

Alumni
Mikado
Fall 2021
Kipit
Fall 2021
Sacha Herszkorn
Fall 2021
Maxime Janton
Fall 2021
Lyderic Senlecques
Fall 2021
Iris de Villars
Fall 2021
Romana Basilaris
Fall 2021
Wojtek Kulikowski
Fall 2021
Lancelot de Ferrière
Fall 2021
Sylve Chevet
Fall 2021
Gregory Jessner
Fall 2021

What they built with LCF

BaguethDAO
Bagu.eth, /bæ’get/: a vibrant NFT-gated community.
Drakkar
Drakkar helps you sail the open sea.
https://www.drakkar.gg/
Zilly
Build your network. Show your value.
https://zilly.social/
Boomerang
Track and reward community engagement.
https://www.tryboomerang.io/
Trustblock
Multichain decentralized auditors marketplace.
https://hello.trustblock.app/
Narval
The decentralized Guild of Guilds.
https://www.narval.xyz/
Mazury
Your web3 career starts here.
https://mazury.xyz/
Briq
The NFT building protocol.
https://briq.construction/

What they say about LCF

LCF allowed me to build in a space I'm passionate about while being financially free and receiving great insights
Mikado
LCF helped me on each step, starting with the ideation & startup mentorship at the beginning, to the top connections in web3 and raising seed in the end
LCF has helped me validate my business idea, and made a few introductions that enabled me to navigate the crypto space
Being part of LCF means being part of a community of like-minded peers and mentors always there to give you support and advice - something invaluable while building your crypto product
LCF has allowed me to not take a job and focus on my project full time. It's a game changer. They don't waste my time with useless meetings and irrelevant workshops like other programs do, but if you need them, Fabric and Frst will respond.
about us

We empower daring entrepreneurs to build legendary companies

frst logo

Frst is a seed-focused fund designed to be the best possible partner for the first months of the most ambitious French entrepreneurs. We provide money, seed-stage expertise and network, and don’t lead Series A to align interests.

fabric ventures logo

Fabric Ventures backs the founders of the Open Economy. Investing in builders, businesses, and networks from inception to scaling since 2012.

faq
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Why are you doing this program? 

We think there are considerably more good web3 ideas than good web3 founders. So we thought we would empower a new generation of entrepreneurs and help them build legendary companies. 
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Can I apply as a team? 

Yes! In this case we will invest a first ticket of €200k or €300k (for 2 or 3 people) for 7% and the option will allow us to grow to 20% by adding €600k or €500k respectively. 
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Can I apply if I’m not based in Paris ?

Yes, but you need to be in a EU friendly timezone. We may hold a few physical events in Paris but your presence won't be mandatory. 
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Why are you so interested in web3? To me it means Bitcoin and drugs

Bitcoin is just the tip of the iceberg. You should learn about Defi, NFTs, DAOs... A good start may be to watch this excellent video from our friends at Rekt
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I know nothing about web3, can I apply? 

Yes! Your learning curve is way more important than what you know right now. 
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Are there requirements in terms of age or education?

No. We welcome applications from anyone.
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Will the program be held in French or English?

English.
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Can I apply if I already have a company or product? 

The program will most likely not be a great fit for you in this case. But you are welcome to contact us for a "traditional" investment at hello@lecryptofellowship.com
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Can I apply if I am still a student and won't be available full time per se? 

It depends on how busy you are with your studies, but let's discuss!
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Can I apply if I prefer to join an existing company? 

We work with many web3 companies looking for great people. Please do not hesitate to contact us at hello@lecryptofellowship.com
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Are the terms flexible? Should I hire a lawyer to negotiate?

For efficiency reasons terms are fixed and non negotiable. We are Tier 1 investors with impeccable reputations and the only way we earn money is by making entrepreneurs earn considerably more. We will hold a group session with the people invited to join the fellowship to explain every clause and while we don’t recommend it, you may bring a lawyer and make the company reimburse you after signing. But the clauses still won’t be negotiable.
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I won't be available by March, can I still apply? 

We would love to say yes, but no. It’s happening now!
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I'm want to be a Partner, how can I work with you?

Apply here & let's chat.
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How can I hear about the journey?

Follow us on Twitter and Medium!
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I have questions, how can I contact you?