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  1. Home
  2. /VCs
  3. /Avichal Garg
  4. /Briefing
Pre-Pitch Briefing

Avichal Garg

Managing Partner & Co-Founder at Electric Capital

SeedSeries ASeries BInfrastructureDeveloper ToolsDeFi

Their Thesis

Developer ecosystems and data-driven investing. Publishes Electric Capital Developer Report.

How to Pitch Them

Come with developer metrics, ecosystem growth, and on-chain data.

What Excites Them

Growing developer ecosystems, strong on-chain metrics, data-backed traction

What They Pass On

No developer metrics, small ecosystem bets without data

Key Frameworks

Developer Activity Index

Measuring crypto ecosystem health through monthly active developers as a leading indicator of adoption.

Developer-Led Ecosystem Health

The health of a crypto ecosystem is best measured by its developer activity

In Their Own Words

“Developer activity is the most reliable leading indicator for crypto growth.”

— Electric Capital Report

“Developer activity is the leading indicator for everything in crypto. Code commits today become products tomorrow.”

— Bankless

“The only metric that matters in crypto is how many developers are building. Everything else follows.”

— Electric Capital Report

Recent Writing

Electric Capital Developer Report 2023research

Monthly active crypto developers reached 23,000+ despite market downturn, showing sustained builder interest.

Podcast Appearances

Developer Activity in Crypto — Bankless
developersmetricsecosystems
Electric Capital Developer Report — Bankless
developer activityecosystem metricscrypto builders
Measuring Crypto Ecosystem Health — Unchained
developer metricsElectric Capitalcrypto trends

Electric Capital Portfolio

Top Sectors

L1/L26
Infrastructure5
DeFi2
NFT1
NFT/Gaming1

Stage Distribution

Series A7
Series B5
Seed2
Series D2
Series C1
Sui (Mysten Labs)L1/L2
Series B$40.0M
Frax FinanceDeFi
Seed$2.0M
Mina ProtocolL1/L2
Series A$15.0M
Anchorage DigitalInfrastructure
Series D$5.0M
NansenInfrastructure
Series A$15.0M
Offchain Labs (Arbitrum)L1/L2
Series B$40.0M
AvailInfrastructure
Series A$27.0M
EigenLayerInfrastructure
Series A$100.0M
CelestiaInfrastructure
Series A$55.0M
Magic EdenNFT
Series B$130.0M

+ 8 more investments. View fund →

← Full profile@avichalLinkedInElectric Capital website