Worldcoin's Max Novendstern talks about new Mana venture

2022-08-24

Max Novendstern, co-founder and former chief executive of Worldcoin, is working on a new venture, according to sources and regulatory filings and an investor deck obtained by journalist. The goal is a venture model that scales like software—no marginal cost: anyone in the world can raise; anyone can invest; and because Al gets better with scale, the system improves in a flywheel. Rather, the new market entails underwriting all asset classes—debt, equity, and tokens—in all cities and industries simultaneously, as the globalization of software hits the ‘second half of the chessboard.’ The startup is engaging with Tribe Capital, Multicoin Capital, Dragonfly and Variant to raise funds, according to sources familiar with the matter.

Worldcoin's Max Novendstern talks about new Mana venture

Max Novendstern, co-founder and former chief executive of Worldcoin, is working on a new venture, according to sources and regulatory filings and an investor deck obtained by journalist.

A Worldcoin spokesperson confirmed that Novendstern left the firm last year, something which hasn’t been previously reported, but continues to advise the firm. Novendstern did not respond to a Twitter message Wednesday.

His new venture is called Mana and it is building an “AI venture capitalist that will run autonomously on-chain” or “Blackrock for new economy,” according to the investor deck. The startup is engaging with Tribe Capital, Multicoin Capital, Dragonfly and Variant to raise funds, according to sources familiar with the matter.

Multicoin did not respond to an email Wednesday.

An investor presentation obtained by journalist described Mana as:

Mana Max Novendstern Worldcoin

Worldcoin's Max Novendstern talks about new Mana venture

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