Investing in Pimlico
Summary
In 2021, ERC-4337 was proposed and quickly became the first Account Abstraction spec to gain real momentum, as it did not require changes to Ethereums consensus-layer. Pimlico is designed to make crypto UX simpler and easier by offering services like gas fee sponsorship, payment with ERC-20 tokens, social recovery schemes, batched transactions, spending limits, and different account access levels.With Pimlico just a few weeks old, Kristof participated in our Spring 2023 cohort of Crypto Startup School in Los Angeles. Within weeks, we were blown away by the velocity at which Kristof and team shipped product and closed significant, early partnerships for Pimlico. By the end of Crypto Startup School, we were convinced that no one was better equipped to build the supporting infrastructure for account abstraction than Kristof.Today, were proud to announce that weve led Pimlicos Seed round and are thrilled to partner with them as they enable web3 deliver on its self-sovereignty promises with the ease and usability of web2. If the name wasnt enough of a clue, Pimlico is based in London and we are excited to work with fantastic entrepreneurs in the UK ecosystem with Kristof being a great example of one.The views expressed here are those of the individual AH Capital Management, L.L.C.