From Speculation to Strategy: How Shorooq is Redefining Web3 Investment Globally
As Web3 shifts from speculative noise to real-world application, Shorooq, the leading alternative investment firm in MENA, is doubling down on scalable blockchain infrastructure and asset-backed innovation. Shorooq has been investing in blockchain long before it became a regional buzzword. In this conversation with Shane Shin, Co-Founding Partner at Shorooq, Unlock Blockchain dive deep into the firm’s investment lens—from how they identify disciplined founders to why the real opportunity lies in real-world assets and payment infrastructures.
Beyond Token Hype: Why Shorooq Invested in MANTRA?
“Shorooq has been developing a multi-pronged Web3 strategy since 2017—long before most regional players entered the conversation,” says Shane.
Among its most notable investments is MANTRA, the blockchain platform at the forefront of tokenizing real-world assets (RWAs). But the investment decision wasn’t just about technology—it was about governance, regulatory readiness, and founder discipline, core filters in Shorooq’s investment playbook.
“We were looking for global players in RWA tokenization. Most projects were focused on token price, not business fundamentals. MANTRA stood out because they built through bear markets, secured a VARA license, and demonstrated real product-market fit,” says Shane.
Since Shorooq led MANTRA’s $11 million seed round, the project has scaled to a top 20 crypto asset globally.
Tokens Are Not a Business Model
Shorooq’s Web3 framework integrates traditional VC discipline with blockchain-native mechanisms. “We don’t underwrite hype. We underwrite fundamentals,” Shane adds. “Our conviction lies in real technology, not speculative price action.”
Many early-stage Web3 projects pitched token-only structures. “We walked away from dozens who weren’t willing to offer equity. That decision aged well. Today, the industry is moving to hybrid models—equity plus token warrants—just as we anticipated.”
Community as Infrastructure, Not Marketing
In Web2, community was a feature. In Web3, it’s infrastructure. Shorooq views community economics as a foundational layer, alongside revenue, regulation, and market architecture.
“The success of a Web3 protocol often depends less on what chain you build on, and more on how you incentivize trust and engagement across stakeholders,” says Shane. This requires deep asset-class expertise—something Shorooq has built by operating across fintech, platforms, and blockchain.
“You’re not just building a product. You’re incentivizing an ecosystem,” he adds. “That takes a very different mindset.”
Governance Isn’t Optional—It’s an Edge
Unlike many Web3 projects that operate without a board or financial controls, Shorooq ensures its portfolio companies implement governance structures that mirror institutional best practices.
“Board resolutions. Spending discipline. Real oversight. These are the building blocks of sustainable blockchain businesses,” Shane adds. “That’s what we bring as institutional investors.”
“Our role is to underwrite good-crazy founders, not bad-crazy ones,” he jokes. “We help set up board governance that many Web3 companies lack.”
Where the Opportunity Lies: RWAs, Payments & Social Protocols
Shorooq is particularly bullish on three verticals:
- Real-World Assets (RWAs) – Tokenizing real estate, aviation, private credit and commodities.
- Payments Infrastructure – Creating faster, borderless value transfer systems.
- Social & Gaming Protocols – Platforms with authentic community-first design and monetization models.
“The next wave isn’t about trading tokens—it’s about rebuilding financial infrastructure from the ground up, using blockchain as the operating system,” Shane notes.
When it comes to institutional adoption, Shane said regional and global banks are not at the same stage. “In the Middle East, banks aren’t ready and the same is in Korea. After the Luna scandal, trust is low. Banks aren’t there to make money—they preserve client wealth. And when they see crypto driven by politics and macro events, it doesn’t help.”
Globally, though, the picture is changing. “In the U.S. and Europe, everyone’s watching. No one wants to miss the train. But we need to see more action. Right now it’s mostly noise.”
What could change the dynamic? Shane believes stablecoins and tokenized assets will be the catalysts. “That’s the right way to start—things backed by tangible assets. Something people can agree on. That’s what will drive adoption.”
Advice to Founders: Ditch the Buzzwords, Build Real Businesses
Shane’s message to Web3 founders is direct: “Don’t pitch 100x. Pitch your unit economics. Explain your customer acquisition. Understand compliance,” Shane says.
Shorooq backs founders who think like builders, not speculators. “This is no longer the 2018 token boom. It’s the infrastructure era now.”
“You’re not selling to a machine,” he adds. “You’re selling to people. If you can’t articulate your product clearly, you’ll lose both investors and users.”
