BIOHACK-8: The Biohackers Fund (Expands and Rebrands!)

Context:

Back in January, we launched The Biohackers Fund, via BIOHACK-3 governance proposal. We have allocated $250k from our treasury to this fund, denominated in ETH at rates at that time. At current, around $70k worth of ETH is still sitting inside the fund wallet, uninvested. This is only enough to make one extra investment (assuming $50k min check size). Our most recent quarterly roadmap specifies the fund as our main focus going forward - see HERE. In order to continue investing, we need to allocate additional money from the treasury.

Proposal:

We propose to allocate an additional $430k worth of ETH from our treasury to The Biohackers Fund. At the time of writing this proposal, the $430k represents about 35% of outstanding treasury balance, leaving ample funds to continue funding operations and to make further top ups, later on. This will increase the fund’s uninvested balance to $500k. We also propose to vest the Stewards with the discretionary power to swap this balance (or any part thereof) from ETH to USDC (or other stablecoins) at any time, in order to preserve purchasing power for the fund, in case of a decline in ETH price.

The money will be spent over the next 6-18 months (a flexible window depending on opportunities and market conditions). As previously, the Stewards will be in charge of selecting which projects qualify, according to the same criteria as defined in BIOHACK-3. That said, we propose increasing the maximum cap per project to $100k. This should give us exposure to 5-10 new projects, minimum. We may invest into token, equity, SAFE, SAFT, or similar instruments.

We also propose to rebrand from The Biohackers Fund to Superhuman Fund. We believe this name carries more credibility and better encapsulates our target area - which is human enhancement in the broadest sense of the term, beyond DIY biohacking. We have created the draft of a fresh website dedicated to the rebranded fund at superhuman.fund. Please read the Thesis on that site, before voting. We will be sharing this publicly in the coming months, after the passage of this proposal.

Disclaimers:

As before, the overarching goal is not just returns, but maximum impact. Returns may take a long time to realize (the current positions record no profit), and that’s okay. Positions may be sold if liquid and the market or individual project conditions change.

Risks involved: The risk of partial or total financial loss for the DAO in any particular deal exists.

Legal disclaimer: The DAO is legally structured as a non-profit entity. While we refer to this initiative as a 'fund,' all proceeds generated must be reinvested into the DAO to support its growth and advance its mission. No proceeds will be distributed to stakeholders or the team. This initiative is not an offer to sell, nor a solicitation of an offer to buy, any securities or financial instruments, and should not be construed as such.

Voting:

Vote YES if you are in favor of this proposal.

Vote NO if you are against it.