I was recently invited to give a lightning talk on a topic that’s been capturing much of my mindspace of late: whether crypto can be a better technology for capital formation than legacy options, such as banks, capital markets, and non-bank financial intermediaries. 

I’ve spent most of my adult life working on the problem of access to capital in the so-called ‘emerging’ and ‘developing’ economies. 

So, I focused my presentation on the $4 trillion financing gap besetting small and medium-sized enterprises ( — or SMEs — ) in these markets.

That said, I think an open, permissionless protocol for capital formation would be a boon to innovation and entrepreneurship everywhere.

This episode re-records my presentation for an audio-first audience, and it hits four topics:

1. The problem — what it is, where it is, and why it exists
2. The shortcomings of existing non-bank intermediaries (i.e., PE funds)
3. Crypto's potential solution
4. The challenges with implementing a crypto solution

If you find this interesting / inspiring, then send Mike an email at mike@porticoadvisers.com.

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• Watch the presentation on YouTube
• Download a copy of the deck
• Watch The Evolution of Private Equity in Emerging Markets on YouTube
• Read Mike’s post Trillions
• Listen to Roger Leeds on Private Equity & Development

Follow Mike on Farcaster or Twitter

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Music credit: Daniel Allan, “Too Close” released on Sound. You can learn more about Daniel’s community-owned DAO that underwrote his latest EP here.

(Disclosure: In addition to the “Too Close” NFT, Portico’s founder Michael Casey owns $OVERSTIM tokens, as well as many other music NFTs; his Sound collector profile is available here).