Navigating APAC & US Crypto Frontiers with CMT Digital’s Doug Hsu
PLUS: Former Uber Product Executive Building Something New
Episode of the Week
Doug Su is an investor at CMT Digital in Asia — a global electronic trading and investment firm specializing in blockchain and digital assets. Founded in 2017, CMT Digital was among the earliest firms to launch a dedicated crypto fund and has since backed more than 150 crypto-native protocols and blockchain ventures worldwide.
Doug brings a diverse track record in venture capital and digital asset strategy, having previously worked at Insignia Ventures Partners, played a strategic role at Fireblocks, and led extensive crypto dealmaking efforts across the Asia-Pacific region.
In this episode, Doug will share the story behind CMT Digital’s entry into the crypto space in 2017 and how its mission has evolved over time. He’ll discuss how he evaluates opportunities across token-based protocols versus traditional equity investments in both Asia and the U.S., the macro themes he’s watching — from AI and stablecoins to blockchain infrastructure — and where he sees the ecosystem heading over the next two to five years through the lens of Venture Fund IV, launched in May 2024.
This edition is brought to you by VARA Network
Built on the Gear Protocol - Vara Network is a revolutionary Web3 application platform, removing many of the barriers associated with building, deploying, and operating dApps. Vara’s computer science paradigms like persistent memory and actor model, along with parallel data processing, allows for deep scalability, new design patterns and features. Vara’s unique architecture makes it completely frictionless for users. Learn more at Vara.Network
Venture Radar
Oracle’s $300 Billion Bet on OpenAI – A Play to Redefine Enterprise AI Infrastructure
Oracle is reportedly finalizing a landmark $300 billion deal with OpenAI, positioning itself as the primary cloud partner powering the next phase of generative AI. The deal would anchor OpenAI’s massive compute requirements on Oracle’s cloud infrastructure, instantly elevating Oracle into the top tier of hyperscale providers alongside Microsoft, Amazon, and Google. By tying itself to the world’s most influential AI company, Oracle is making a bold bid to transform from an enterprise software incumbent into the backbone of applied artificial intelligence.
The timing is deliberate. AI adoption is hitting an inflection point in enterprises, with Fortune 500 firms racing to integrate models like GPT into workflows, analytics, and customer experiences. Oracle has long lagged behind in cloud mindshare, but this deal reframes it as a mission-critical player in the most valuable computing trend of the decade. Just as Microsoft’s investment in OpenAI unlocked growth across Azure and Office, Oracle is seeking to replicate that flywheel effect, with its databases, ERP systems, and vertical cloud products serving as distribution layers for OpenAI-powered applications. The move also signals Oracle’s willingness to spend heavily to leapfrog rivals and secure relevance in a cloud market that increasingly rewards scale and specialized infrastructure.
Still, execution risks are significant. Oracle will need to prove it can deliver the low-latency, GPU-rich environments OpenAI depends on at global scale—something historically dominated by Microsoft’s Azure and Nvidia-backed partnerships. There is also regulatory scrutiny: a $300 billion tie-up between a leading enterprise software firm and the world’s most advanced AI lab will attract antitrust and geopolitical oversight. And strategically, Oracle must ensure this partnership doesn’t alienate existing enterprise customers who value multi-cloud optionality.
Geeks of the Week
Startup Name: BrowserOS
Geography: US
One-liner: Open-source agentic browser that runs AI agents locally.
Founder(s) Background: Senior Software Engineer at Meta, Software Engineer at Google.
Thoughts:
The Browser as the New Workspace Primitive
BrowserOS bets on a future where the browser is no longer just an application layer but the actual operating environment. With SaaS and web-native tools already eating most productivity workflows, BrowserOS reframes the browser from a passive container into the core workspace primitive. This shift aligns with how distributed teams already operate—working from anywhere, on any device—making “cloudless” an appealing wedge. If BrowserOS can own this abstraction, it could sidestep the platform lock-in of macOS/Windows and reposition the browser as the OS of choice for modern work.
Startup Name: Remo
Geography: US
One-liner: Automating compliance ops for financial institutions.
Founder(s) Background: International Expansion at Telda (backed by Sequoia, GFC and Block), Senior Software Engineer at Careem.
Thoughts:
AI Agents in High-Stakes Workflows
Most AI agent platforms focus on productivity or sales, where errors are tolerable. Remo is going after compliance — a domain where mistakes carry regulatory, reputational, and financial risk. By embedding explainability, SOC2 compliance, and full audit trails into its design, Remo positions itself as an “enterprise-safe” AI layer. If it succeeds, it could carve out a defensible wedge where incumbents move slowly and generic LLM agents can’t pass enterprise risk thresholds.
Startup Name: Concierge AI
Geography: US
One-liner: AI answer engine for B2B SaaS brands.
Founder(s) Background: Engineering Manager at Robinhood, Venture Partner at Revolution
Thoughts:
Answer Engines as Conversion Tools
Concierge positions itself as more than just a bot or FAQ overlay — it’s an “answer engine” designed to reduce friction in buyer journeys. By letting brands train answers on their own content and delivering them directly on their site, it addresses a real problem: buyers bouncing when they can’t find specific or technical product info. If Concierge nails accuracy + response speed, it could become a standard layer in the website-stack for mid-to-enterprise companies that have complex products or services.
Founder(s) building in stealth
Deals of the Week
Spara – AI Sales Automation
Spara, a New York–based startup, emerged from stealth with a $15 million Seed round led by Index Ventures, joined by General Catalyst, Bessemer, and several angel investors. The company builds AI-driven voice, chat, and email agents to qualify leads, greet prospects, and automate inbound sales tasks such as scheduling meetings. Targeting mid-market and enterprise customers, Spara is scaling rapidly and positioning itself as a productivity layer for sales teams seeking to reduce manual workflows.Aurva – AI Observability & Security
Aurva, a data security and observability startup, raised $2.2 million in Seed funding from Elevation Capital and a group of strategic angels. With operations across the US and India, Aurva provides real-time monitoring of data access and usage inside organizations, flagging unusual patterns and potential risks. The company is emerging from stealth as enterprises increasingly demand visibility into how sensitive data is used in AI and analytics environments.
Notable Mergers and Acquisitions
OpenEvidence acquires Amaro
OpenEvidence, a company focused on tools for clinicians, bought Amaro — an AI-native advertising startup backed by GV (Google Ventures) and Greycroft. Amaro’s tech helps companies analyze & optimize full ad deployment using automation.MoonPay acquires Meso Network
MoonPay, a crypto payments firm, acquired Meso Network — another payments startup. The move is part of MoonPay pushing harder into payments infrastructure & competing more directly with major incumbents.Airwallex acquires OpenPay
Airwallex, which already has a strong global payments/FX platform, acquired OpenPay, a subscription billing startup. This gives Airwallex more capabilities around recurring billing, revenue analytics, and better subscription-billing orchestration, positioning it to more directly challenge Stripe and others in that space.
This edition is brought to you in partnership with Stella Capital.