GP @Formation_VC | 🇺🇸🇮🇱 | cofounder @projecteleven | low TAM

New York, USA
Does anyone else get confused when someone says “my partner,” and you’re not sure whether it’s their life partner or their partner in venture capital
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Leeor Mushin retweeted
Data allocation is a new dimension for capital allocation: keeping data internal vs exposing it externally (and how) is akin to returning capital vs letting it compound (and how). The best CEOs will always be brilliantly creative allocators.
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Data-native capital is coming

There are trillions of dollars hidden in the computers. It’s expensed when created (doing the normal work of running a business), ignored on continuous operations (as it’s accumulated), and buried in

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Claire is one of the best investors in the game, period
A privilege to work with @ClaireSmilow everyday, but especially on days when @FortuneMagazine writes such nice things about her... @BoxGroup fortune.com/2026/10/22/clair…
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When I hear people use the phrasing “Formation Round”
When we first met @_ConnorSweeney, it was extremely clear to us that he possessed the ingredients to build a generational company: MIT engineer, Olympic-level swimmer, fiercely competitive, ruthless attention to detail, and breakneck speed - all combined with a premeditated vision to build something large & important in this specific category. When he went all-in, so did we. We co-led his formation and seed rounds alongside our friends at @generalcatalyst, and are now tripling down at the A. Congrats to @BabaHQ on an amazing Series A - it’s still just the very beginning.
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Leeor Mushin retweeted
@sharp_usa is one of the most important companies in America, a platform that brings relevance to those in uniform (and beyond) who have been massively underserved by traditional mental health services. Incredible to see their growth since co-leading the pre-seed. @Ben__Curley @lmushin 🚨
Today, we’re excited to announce an $18M Series A led by Hidden Variable with participation from @a16z, @commonwealvc, Wolfson Group, @FjLabs, and the @FordFoundation. Sharp is building the new standard for first responder job performance with confidential, one-on-one coaching from people who understand the job and the demands that come with it. Over 115 departments across 18 states, with more than 16,000 booked coaching sessions. To the chiefs, peer support leads, coaches, and members who helped get us here, thank you. Now we carry the mission forward. More departments. A better way for first responders to keep getting better throughout their careers. People sharpen people.
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Leeor Mushin retweeted
First responders dedicate their lives to serving our communities. @sharp_usa is about serving them. It started with a small team of veterans talking with first responders and connecting over some of the hardest parts of the job. It transformed into one-on-one coaching for first responders that help them with everything from stress regulation, to sleep, to leading their teams. The result is a marketplace that connects first responders with coaches from law enforcement, fire, and military backgrounds that support and train them throughout their demanding careers. Today, we’re excited to announce an $18M Series A led by Hidden Variable with participation from @a16z, @commonwealvc, Wolfson Group, @FjLabs, and the @FordFoundation. The funding helps us bring Sharp to the millions of first responders and tens of thousands of first responder agencies across America. We’re grateful to the chiefs who’ve partnered with us, the members who’ve trusted us, and the coaches who’ve continued to do the work. Axios broke the news this morning. More on our blog. Links in the comments.
Today, we’re excited to announce an $18M Series A led by Hidden Variable with participation from @a16z, @commonwealvc, Wolfson Group, @FjLabs, and the @FordFoundation. Sharp is building the new standard for first responder job performance with confidential, one-on-one coaching from people who understand the job and the demands that come with it. Over 115 departments across 18 states, with more than 16,000 booked coaching sessions. To the chiefs, peer support leads, coaches, and members who helped get us here, thank you. Now we carry the mission forward. More departments. A better way for first responders to keep getting better throughout their careers. People sharpen people.
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Leeor Mushin retweeted
The story is still very much in the first inning but @formation_vc and @Nebularvc’s investment in @TeamOratomic is a true case study for modern venture capital. You can still do all the things — keep pulling the thread, follow your genuine curiosity, find a singular team.
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I feel incredibly lucky to be part of @TeamOratomic. With the support we now have, I can't wait to build the world's first utility-scale, fault-tolerant quantum computers with some of the kindest and most talented people I know. oratomic.com/news/mission
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Leeor Mushin retweeted
Leeor was one of the people in Plan II at Texas that you always wanted in a group project and were always happy to see at an event. Two pretty good leading indicators of success in a cohort like that. No surprise he’s thriving like this, easy to root for this team!
More fuel for this incredible team to work on one of the world’s most exciting missions. Wrote this after co-leading their seed that explains their authenticity and mentality: “Dolev and the team did not start Oratomic because quantum computing had become fashionable. In fact, many of them had spent years believing a commercially useful machine was still far away. They started the company because a series of advances - in experiment, error-correction theory, optical engineering, and AI-assisted design - changed their mind” Excited to have tripled down here and for the amazing things they already are and will accomplish. If you’re interested in joining reach out in the link below!
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Leeor Mushin retweeted
Especially proud to call @lmushin my partner today. We practice a style of investing where relationships are often built years in advance. Consigliere type capital. That is personified through our partnership with @DolevBluvstein and @TeamOratomic . wsj.com/cio-journal/quantum-…
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It's an exciting time @TeamOratomic. We are on a focused mission to build a utility-scale, fault-tolerant quantum computer, and have now raised $775M since our launch in March 2026. Find out more about us here: oratomic.com/news/mission
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Leeor Mushin retweeted
It has been a true privilege to work alongside such extraordinary teammates over the past months. Very excited for what's ahead as we continue this great adventure to build a fault-tolerant quantum computer. We're hiring!
Oratomic has raised a Series B, bringing our total funding to $775M since our launch in March. We are on a focused mission to build a utility-scale, fault-tolerant quantum computer. Read more about our mission here: oratomic.com/news/mission
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More fuel for this incredible team to work on one of the world’s most exciting missions. Wrote this after co-leading their seed that explains their authenticity and mentality: “Dolev and the team did not start Oratomic because quantum computing had become fashionable. In fact, many of them had spent years believing a commercially useful machine was still far away. They started the company because a series of advances - in experiment, error-correction theory, optical engineering, and AI-assisted design - changed their mind” Excited to have tripled down here and for the amazing things they already are and will accomplish. If you’re interested in joining reach out in the link below!
Oratomic has raised a Series B, bringing our total funding to $775M since our launch in March. We are on a focused mission to build a utility-scale, fault-tolerant quantum computer. Read more about our mission here: oratomic.com/news/mission
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Leeor Mushin retweeted
"We will NEVER forget October 7th. We will NEVER forget the victims. And we will always stand against the forces of Terror and Evil." - President DONALD J. TRUMP 🇺🇸
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Leeor Mushin retweeted
SECRETARY RUBIO: For twenty-five centuries since, the Parthenon has stood. Empires have risen and fallen beneath its shadow. And the progeny of the men who built it – the sons of Athens and Rome – have carried their civilization with them to the ends of the Earth. Two and a half centuries after the founding of the American republic halfway across the world from where I stand now, I stand here today – as the Secretary of State of that republic, and as the great-grandson of settlers who arrived in the new world from Spain – I stand here to testify to a debt that no lapse of time, no distance of space, can ever extinguish.
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bad day to be a math problem
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Today I call upon the blockchain industry to calmly begin planning for "bunker mode". My personal recommendation is to set in motion a controlled mass migration of assets to fresh addresses, i.e. addresses whose pubkeys remain hidden behind a hash. Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase). Don't rush. While I believe there is cause for action a rushed migration would do more harm than good. Don't panic either. Moving assets to protected addresses is a simple, preventative step which does not require new cryptography or new wallets. IMO it is now reasonable to brace for the possibility that ECDSA breaks before qday, in the worst case in months not years. By "break" I mean fast private key recovery (e.g. in one week) on available hardware (e.g. a large GPU cluster). Recent days have been humbling for human mathematical intuition. Long-held, unquestioned hypotheses have fallen. This includes the n log(n) bound for integer multiplication and the 3SUM conjecture. In hindsight, May's unexpected disproof of the Erdős unit distance conjecture was our warning shot. Yesterday's OpenAI drop made it clear that mathematical superintelligence is upon us. They say there are weeks where decades happen. We are about to live through weeks where centuries of mathematical progress happen. Could our magic 64-byte ECDSA signatures be too good to be true? Was it just security through obscurity all this time? Elliptic curves feel especially vulnerable to superintelligence. Curves carry rich structure, with room for fancy tricks like Schoof, Frobenius, pairings. (By contrast, hashes are designed to minimise algebraic structure.) Separately, as Ewin Tang can attest, an efficient quantum algorithm sometimes foreshadows an efficient classical one. We should be open to the possibility of a classical counterpart to Shor that breaks elliptic curves and RSA at once. Also noteworthy is the striking under-representation of cryptographic breakthroughs among the 722 mathematical results OpenAI published. I've witnessed first-hand the US government censoring academic quantum cryptanalysis results. Backroom interventionism is my base case. I urge large, sophisticated actors to lead by example. Project11's "risq list" (bitcoin-risq-list.projecteleven[.]com) is a great tracker of exposed BTC pubkeys. Binance, Bitbank, Robinhood, Bitfinex, and Tether have an opportunity to harden their cold storage. Next month I'll address institutions in London in a live Q&A (forum.ethereuminstitutional[.]org/london-2026). Again, please do not rush. Wallets holding under 50 BTC enjoy partial cover from "Satoshi's shield", i.e. his 20K exposed addresses that hold 50 BTC each. Load-bearing signers like oracles and L2 security councils should consider rotating ECDSA pubkeys with every signed message and/or multi-signing with a hash-based schemes like SPHINCS. Exiting bunker mode safely will require post-AI cryptography. My inclination is to go all-in on hash-based cryptography and avoid structured mathematical assumptions entirely, whether from curves, lattices, or isogenies. A single battle-tested hash (e.g. from the SHA or BLAKE families) yields plausible post-AI security. The Ethereum roadmap on strawmap[.]org fully embraces hash-based cryptography with end-to-end formal verification as a response to the quantum threat. Those timelines must now be revisited and accelerated in light of mathematical superintelligence. I'll be pushing for maximum defensive acceleration.
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Excited for the Project Eleven launch of Strongpoint with Zcash as an initial partner Institutional infrastructure needs to evolve as cryptographic standards change. After all, math is having a lot a big days these days (!) and that will only accelerate
Project Eleven Launches Strongpoint for Post-Quantum Custody with Zcash Foundation as Initial Development Partner Zcash Foundation joins Project Eleven to shape institutional custody infrastructure for the post-quantum and AI era as more than $1 trillion in digital assets remain at risk of attack by sufficiently powerful quantum computers. Project Eleven, the post-quantum security company for digital assets, today introduced Strongpoint, its flagship custody platform built for navigating the transition to post-quantum cryptography. @ZcashFoundation joins Project Eleven as an initial development partner, helping shape Strongpoint’s institutional custody architecture. Strongpoint is designed to give institutions a consistent control layer for securing and managing digital assets as networks change the cryptographic standards underneath them. Rather than rebuilding key-management, transaction approval, and audit infrastructure for each new signature scheme or network migration, institutions can maintain a common set of security controls while the underlying cryptography evolves. “Institutional digital asset custody was built for a world where the cryptography underneath it rarely changed,” said Alex Pruden, CEO of Project Eleven. “Quantum computing is upending that model. If every network adopts a different solution, institutions could be forced to rebuild their security infrastructure again and again. Strongpoint is built around crypto-agility, so the cryptography can change without the infrastructure changing with it.” “Institutions holding shielded ZEC need custody infrastructure that respects Zcash’s privacy model today and can adapt as cryptographic standards change,” said Alex Bornstein, Executive Director of Zcash Foundation. “Project Eleven is building Strongpoint with the crypto-agility and technical foundation needed to support those requirements over time, helping strengthen custody infrastructure for the broader ecosystem.” Zcash Foundation Joins as an Initial Development Partner Zcash Foundation joins as an initial development partner for Strongpoint, bringing its expertise in privacy-preserving cryptography and protocol engineering to Strongpoint’s institutional custody architecture. Zcash’s privacy-preserving design introduces sophisticated key-management and transaction requirements, making it a valuable environment for developing custody infrastructure capable of supporting evolving cryptographic standards. The collaboration will help inform how Strongpoint handles network-specific requirements while maintaining a consistent institutional control framework across assets and cryptographic schemes. Post-Quantum Migrations Are Taking Different Paths The digital asset industry’s post-quantum transition is becoming a coordination challenge. Among the networks represented by the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization, Project Eleven found that only 10 have published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography. Those approaches span at least six proposed post-quantum signature schemes and vary significantly in how they address account migration, key rotation and legacy-asset recovery. Even where technical roadmaps exist, operational readiness remains uneven, leaving institutions to navigate different standards and requirements across networks. For institutions operating across multiple networks, that fragmentation means accommodating different cryptographic standards and migration requirements without losing a consistent security model. Strongpoint is designed to provide that common operating layer while allowing the cryptography beneath it to change independently. Early Access and Deployment Project Eleven targets production deployment in Q4 2026 and is working with a limited group of development partners ahead of general availability. Additional development partners and supported networks will be announced. Institutions interested in early access can request more information at projecteleven.com/strongpoin…. Founded in 2024 by Alex Pruden and Conor Deegan, Project Eleven raised a $20 million Series A led by Castle Island Ventures in January 2026, bringing its total funding to $26 million. The company recently acquired Riva Labs, a specialized engineering firm with deep expertise in post-quantum signatures, wallet infrastructure and blockchain cryptography, expanding Project Eleven’s in-house research and protocol-engineering capabilities. Methodology: Project Eleven reviewed the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization on September 25, 2026. A network was counted only where an official network organization, foundation, core development team or recognized protocol-improvement process had published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography. General research programs, statements of intent and post-quantum work that did not specify such a migration path were not counted. Draft technical proposals were included and do not imply network approval or adoption.
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