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關於Inversion
Inversion Capital is an investment vehicle that advocates buying traditional low-margin businesses and replacing their underlying infrastructure, targeting mature sectors like telecom and payments. It addresses the low efficiency of cash flow and distribution in legacy firms by embedding Stablecoin, on-chain settlement and tokenization into existing operations so the blockchain runs invisibly in the background. Its model resembles a leveraged buyout but creates value through on-chain settlement rather than financial engineering, with target assets concentrated in Mexican and Brazilian telecom and payments.
Inversion's central uncertainty is that its thesis depends on actually closing acquisitions of Latin American traditional firms, and no such deal has yet been publicly completed as proof. The synergy between its on-chain settlement and portfolio companies also presupposes real control and restructuring, so its use case is limited to mature enterprises willing to accept on-chain rebuild, carrying higher execution risk than a pure technology play.
Inversion 成立於 2024 年，由前 ParaFi Capital 合夥人 Santiago Roel Santos 創立，總部位於紐約，旨在透過收購傳統企業並將其業務遷移至區塊鏈，打造「鏈上波克夏」。 2025 年 2 月，該公司宣布計劃建構 Inversion Chain，這是一條基於 Avalanche 技術的主權第一層區塊鏈，作為投資組合公司的統一營運基礎設施，以實現標準化與互通性。 2025 年 9 月，Inversion 完成由 Dragonfly Capital 領投的 2650 萬美元種子輪融資，參與方包括 HashKey Capital、VanEck、ParaFi Capital 等。資金將用於營運基礎設施，而收購資金則透過獨立基金籌集。 該公司專注於電信與金融服務等低效率產業，收購具備現有用戶基礎的企業，導入區塊鏈以優化成本結構，並部署穩定幣等金融科技服務以實現生態系統變現。
In February 2026, Inversion Labs released a public payment-cost calculator quantifying the financial impact of inefficient payment infrastructure through churn and settlement friction; the firm had earlier said it would build its own Avalanche L1 as a common settlement and identity layer for acquired companies, citing permissioning at validator, contract and transaction level plus privacy and custom gas tokens.
In the second half of 2026, Inversion founder Santiago Roel Santos conceded in a shareholder letter and on the Empire podcast that the founding hypothesis, that buying traditional businesses and embedding crypto would produce above-market returns, remained unproven after eight months across more than 20 sectors: MVNO unit economics were poor, onchain B2B borrowing actually cost 8–12% and could not beat traditional finance, and remittances were stuck on stakeholder incentives rather than technology. The firm pivoted to a holding-company model of quality cash-generating businesses where AI or crypto acts as an enhancement.
Inversion applies private-equity buyout logic on-chain: with 26.5 million dollars from its seed round it acquires low-margin telecom and financial services businesses that already have distribution, then replaces their back office with stablecoin and on-chain settlement, so returns come from operating improvement rather than token appreciation. The permissioned Avalanche L1 is not a public chain for outsiders but the shared settlement and identity layer for portfolio companies, tying its value directly to their cash flow. The bottleneck sits in the same place: the more traditional the target, the slower the integration and compliance retrofit, and valuation can only be read on operating metrics rather than deposits, leaving deal pace constrained by capital rather than technology.
Santiago Roel Santos：Inversion 共同創辦人暨執行長。曾為 ParaFi Capital 合夥人、Elysium Health 董事、Sageview Capital 副總裁。於摩根大通（J.P. Morgan）從事投資銀行業務。擁有波士頓大學經濟學學士學位。 Suzanne Dannheim：Inversion 共同創辦人暨營運長。無詳細公開資料；職位經由 CryptoRank 及公司來源確認。