# Joel Monegro

> Joel Monegro is a Managing Partner and Co-founder of Placeholder, a New York City-based venture capital firm that invests exclusively in decentralized blockchain networks and cryptoassets. Best known for authoring the seminal 2016 essay 'Fat Protocols' - one of the most influential frameworks in crypto investing - he built Union Square Ventures' blockchain thesis before launching Placeholder in 2017 with Chris Burniske. A former Dominican Republic government technology official turned VC, he is also an amateur competitive racing driver who races under @racingpapi with the Dominican flag proudly displayed.

- **Role:** Managing Partner at Placeholder
- **Organizations:** Placeholder, Union Square Ventures (former), Ministry of Industry and Commerce, Dominican Republic (former)
- **From:** Dominican Republic
- **Nationality:** Dominican
- **Education:** Computer Science and Economics, Unknown
- **Known for:** Authored 'Fat Protocols' (2016) - arguably the most influential single essay in crypto investment theory, Built Union Square Ventures' crypto investment thesis and portfolio (2014-2017), Co-founded Placeholder (2017) - one of the most respected dedicated crypto VC firms with 75+ investments

## Career timeline

- **pre-2013** — Co-founded three companies in the Dominican Republic (two failed, one continued)
- **pre-2013** — Operated a software development shop in the Dominican Republic
- **pre-2014** — Served as Manager of the Digital Economy Department at the Dominican Republic's Ministry of Industry and Commerce
- **2013** — Fell into the crypto rabbit hole while researching alternative payment infrastructure for Latin America
- **2014** — Joined Union Square Ventures as an analyst, building their blockchain investment thesis and portfolio
- **2016** — Published 'Fat Protocols' - the essay that became one of the most influential frameworks in crypto investing
- **2017** — Left USV to co-found Placeholder with Chris Burniske and Brad Burnham
- **2018** — Published Placeholder Investment Thesis and key frameworks including Cryptoeconomic Circle
- **2019** — Published 'Sovereign Cryptonetworks' and 'Cryptonetwork Governance as Capital' - key governance theory essays
- **2020** — Published 'Thin Applications' introducing cryptoservices architecture
- **2021** — Appeared on Bankless discussing governance and capital; Placeholder portfolio grows to 50+ investments
- **2022** — Defended Solana investment post-FTX collapse, calling it a clear market opportunity
- **2023** — Published 'Ethereum and Solana' and 'AI Belongs Onchain' - two of his most cited recent essays
- **2024** — Raced in 2024 Michelin 992 Endurance Cup with PTE operated by Manthey
- **2025** — Racing in 2025 Porsche Sports Cup with Track Experience by Manthey Racing (car #224)

## Achievements

- Authored 'Fat Protocols' (2016) - arguably the most influential single essay in crypto investment theory
- Built Union Square Ventures' crypto investment thesis and portfolio (2014-2017)
- Co-founded Placeholder (2017) - one of the most respected dedicated crypto VC firms with 75+ investments
- Pioneered 'Governance as Capital' framework reframing DAO governance tokens as capital assets
- Early institutional backer of Solana before mainstream recognition
- Developed 'Cryptoservices Architecture' concept for decentralized applications
- Established Digital Economy Department for the Government of the Dominican Republic

## Latest updates

- **2025-04** — Racing in 2025 Porsche Sports Cup with Track Experience by Manthey Racing (car #224)
- **2023-10** — Published 'AI Belongs Onchain' arguing blockchain infrastructure is essential for auditing AI agent activity
- **2023-10** — Published 'Ethereum and Solana' comparing them to Android and iOS, arguing both ecosystems will coexist
- **2022-11** — Defended Solana investment after FTX collapse, calling it a clear market opportunity

## Links

- Website: https://monegro.org
- LinkedIn: https://www.linkedin.com/in/joel-monegro-472914140
- Twitter/X: https://x.com/jmonegro
- GitHub: https://github.com/jmonegro
- Instagram: https://www.instagram.com/racingpapi/

---

Profile page: https://yespress.io/joel-monegro
Published by YesPress — https://yespress.io
Last updated: 2026-04-29