Vincent Li is a prominent investor and visionary leader in the rapidly changing Web3 space. As one of Adaverse’s founding partners, Vincent has led the way in innovative business creation and investments in the decentralized digital space. Vincent Li’s career is evidence of his dedication to developing the Internet of the future and pushing the limits of investment and technology.
Vincent Li’s journey to becoming a Founding Partner of Adaverse and an investor in Web3 has been shaped by a diverse set of experiences. He grew up with Web1 and began his career in Web2 as a product manager. He was part of the team that successfully took the Chinese media firm Qutoutiao Inc. public on NASDAQ. A fortunate series of events led him to Africa, where he met the Emurgo team and co-founded Adaverse. Since then, Vincent has been investing in Web3 businesses across multiple continents and engaging in venture-building, including co-founding several Web3 ventures such as Vibra and Cassava Network.
What are the main factors that guided you to where you are now?
At the point that we decided to look towards the Middle East in 2023, Adaverse had already found success in other regions, such as Asia, Africa, and the United States. When looking at this new region, we did extensive market research and field visits, which highlighted Saudi Arabia as a market with significant potential for Web3 development.
In 2023, we made the strategic decision to expand our presence in the region, where we have since been actively contributing to the Web3 ecosystem. Our efforts include organizing events and advocating for Web3 adoption locally. We’ve committed $10 million to invest in Saudi Web3 startups, and to date, we have invested in five promising Saudi ventures, with two more investments soon to be announced.
Given your years of experience and accomplishments, what would you say was your biggest achievement?
I would say my biggest achievement has been supporting around 100 founders through investments across various regions, including Asia, Africa, and now Saudi Arabia and the Middle East. This accomplishment reflects my commitment to fostering innovation and growth in the Web3 space on a global scale. It’s incredibly rewarding to see the impact of these investments and the progress made by the founders we’ve supported.
What is the quote that inspires you the most?
The quote that inspires me the most is “Jing Shui Liu Shen”, which translates as “Still waters run deep.” This proverb encapsulates my belief in the power of persistent, focused effort. It reminds me that by consistently working towards valuable goals, even if not always visible on the surface, we can achieve significant depth and impact in the long term.
How would you balance the pursuit of wealth and success with personal fulfillment and happiness?
I believe balance comes through diverse experiences and meaningful contributions. My extensive travels to over 40 countries and starting businesses in at least five countries across different continents have provided me with a wealth of experiences. I find personal fulfillment in using my capabilities to help and support people from various regions, which aligns with both my business achievements and personal growth.
What personality traits contributed to you being a successful investor ?
I would say that first and foremost, an investor should have a long-term perspective and a willingness to support persistent founders over extended periods. The investment journey can be lonely, and it’s crucial to be prepared for long-term engagement with founders. Patience is also essential, as most VC investments have a 10-year horizon, requiring a commitment to nurturing projects and relationships over time.
Are there any significant challenges facing the Web3 landscape today? Can you name the most relevant ones?
One of the biggest challenges facing the Web3 landscape today is achieving mass adoption. While blockchain technology is currently consolidating its foundations, with major projects focused on solutions like layer one, layer two, and new ways of cryptography like zero knowledge proof, I remain optimistic about the potential of products with real-world applications to drive widespread adoption. Many of our investments in emerging markets are aimed at solving tangible problems, which I believe is crucial to unlocking the full value of blockchain technology. For example, Mithu App addresses the challenges in the loyalty program market, where customers struggle to manage multiple programs, leading to billions of dollars in points expiring annually. In Riyadh alone, only 2.5% of restaurants offer loyalty programs, representing a significant missed opportunity. Similarly, UmrahCash simplifies currency exchange and money transfers for the 21 million migrant workers and religious visitors to Saudi Arabia, providing a secure and transparent platform that bypasses costly informal networks.
In light of your journey and experiences, what message would you like to convey to aspiring youth in the Web3 landscape?
To aspiring youth in the Web3 landscape, I would emphasize that there are unique opportunities for each generation. I encourage young entrepreneurs to be curious and keen to learn about frontier technologies, including blockchain. Don’t be afraid to experiment, fail, and learn from your experiences. Join startups, become part of teams, and immerse yourself in the ecosystem. This hands-on approach will provide invaluable insights and help you identify opportunities in this rapidly evolving field.
What is your personal team leadership philosophy, and how does it shape the approach and methodologies used by Adaverse?
My approach to leadership is embedded in the decentralized nature of Web3: I believe in a flat organization structure, I believe in empowering team members by asking questions rather than giving assignments, and viewing our relationships as partnerships rather than hierarchical. This approach creates an environment where team members are fully authorized to take ownership of their roles, promoting innovation and efficiency. In my view, running a business is about building an alliance of motivated individuals working towards a shared vision.
What is the most valuable lesson learned from your professional journey ?
The most valuable lesson I’ve learned from my professional journey is the importance of courage and openness to new opportunities. My experiences have taught me that the world is full of possibilities for those willing to take risks and venture into uncharted territories. This mindset has led me and my team to explore emerging markets and regions that others might overlook, resulting in unique insights and opportunities. Embracing this approach has been crucial to our success and continues to drive our strategy at Adaverse.
Tell us more about what distinguishes Web3 technology from other similar services?
Web3 technology distinguishes itself from other services primarily through its emphasis on ownership and decentralization. Unlike Web1, which was read-only, and Web2, which introduced user-generated content but centralized data control, Web3 empowers users with true ownership of their digital assets and data. This paradigm shift enables new models of interaction, value exchange, and governance that were not possible in previous iterations of the internet. Web3’s blockchain foundation also ensures transparency, immutability, and reduced reliance on intermediaries.
Where do you see the future of Web3 heading in the next 3-5 years, and how do you plan to adapt to those changes?
In the next three to five years, I anticipate significant progress in mass adoption of Web3 technologies across various sectors. As the underlying technology matures, we expect to see widespread integration in areas such as finance, payments, retail and entertainment. To adapt to these changes, Adaverse is strategically investing in projects that address real-world problems and have the potential for broad adoption. We’re particularly excited about developments in our portfolio that showcase practical applications of blockchain technology in everyday scenarios.
Are there any upcoming projects or initiatives you’re particularly excited about, and how do they align with Adaverse’s strategic goals?
We’re particularly excited about upcoming projects in the sports industry and the global carbon credit market. In the sports field, we see huge potential for blockchain applications in areas such as fan engagement, player verification, and sports finance. We’re also exploring innovative projects that leverage blockchain for verifying on-chain resumes of sports players.
Additionally, we’re closely watching developments in the global carbon credit market, where blockchain can bring transparency and efficiency. These initiatives align with Adaverse’s strategic goals of supporting projects that drive real-world adoption of Web3 technologies and create tangible value.
