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Benchmark’s Sarah Tavel on the “bifurcation” coming to the world of web3

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One of just five general partners at the storied early-stage venture firm Benchmark, Sarah Tavel may be leaning the most into crypto, but that hardly means she’s actively writing related checks. On the contrary, Tavel has led one of the only crypto-related bets that Benchmark has made in recent years, making an early investment in the blockchain analysis outfit Chainalysis after it helped crack the famous Mt. Gox case.
The only other web3-type investment that Benchmark has announced in recent years is Sorare, a Paris-based outfit whose fantasy soccer game using non-fungible tokens (NFTs) attracted a whopping $730 million in funding last year across two rounds, the first of them led by Benchmark. (Tavel says Benchmark has also made a yet-unannounced investment in a startup in the “gaming space with some crypto or web3 flair.”)
It’s not for lack of interest, says Tavel, who says she has long bee …

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