Eric Bai LLM ’17, Founding Partner, Cipholio Ventures
Eric Bai LLM ’17 is a founding partner at Cipholio Ventures, an investment firm dedicated to supporting Web3 startups. Often described as the next evolution of the internet, Web3 is built on blockchain technology and aims to create a more decentralized, user-controlled digital ecosystem. Eric transitioned from a legal career to venture capital, leveraging his expertise to help early-stage companies navigate complex regulatory landscapes. Before founding Cipholio Ventures, he worked at Binance Labs, where he advised crypto startups on regulatory compliance, mergers, and acquisitions. Now, he plays a key role in fostering innovation in blockchain technology and supporting the broader Web3 ecosystem. Read more below.
What made you decide to pursue a career in entrepreneurship/venture capital/startups after NYU Law?
I have always been passionate about crypto and firmly believe that decentralization is the future. After graduating from NYU Law, I saw an opportunity to contribute to the Web3 ecosystem by leveraging my legal background to help early-stage startups navigate the complex regulatory landscape. By investing in and supporting Web3 startups, I can facilitate the growth of decentralized technologies and contribute to the broader adoption of blockchain innovations.
How did NYU Law prepare you for this career?
My experience at NYU Law provided me with a strong foundation in legal principles and critical thinking skills that have been invaluable in my career. While working at Binance Labs, I utilized my legal and industry expertise to help crypto companies better understand regulatory implications, mitigate legal risks, and structure mergers and acquisitions effectively. NYU Law’s emphasis on adaptability and comprehensive legal analysis equipped me to navigate the rapidly evolving regulatory environment in the crypto space.
Why do you think lawyers find success in this career path?
Lawyers are trained to analyze complex situations, think strategically, and anticipate potential risks—skills that are crucial in entrepreneurship and venture capital. Our ability to dissect intricate contracts, assess regulatory compliance, and structure deals enables us to provide valuable insights that go beyond legal advice. Additionally, the discipline and problem-solving mindset developed in law school allow lawyers to excel in dynamic and high-pressure environments, making them well-suited for roles in startups and venture capital.
What was the biggest challenge you faced as a lawyer in this career path?
One of the biggest challenges I faced was realizing that law is just one perspective in the world of investment. In venture capital and entrepreneurship, understanding technology, finance, and market dynamics is equally critical. Transitioning from a purely legal mindset to a broader strategic approach required me to continuously expand my knowledge and develop a more holistic understanding of the industry.
What is the most important thing students should do while they are still in law school to prepare themselves for a career in entrepreneurship, in venture capital, or at a start-up?
Students should take the initiative to learn more about finance and technology, as these areas are essential for success in entrepreneurship and venture capital. Engaging with individuals outside the legal profession, such as entrepreneurs, engineers, and investors, can provide valuable insights and broaden perspectives. Keeping an open mind and being willing to explore opportunities beyond traditional legal roles will better prepare students for a successful career in the startup ecosystem.
What was the most important lesson you learned in your career thus far?
The most important lesson I have learned is to keep an open mind and be willing to try new things. In the fast-paced world of startups and venture capital, adaptability and perseverance are key. Success often comes in unexpected ways, and as long as you work hard and stay committed to your goals, opportunities will arise—even if they don’t align exactly with your initial expectations. Being open to change and continuously learning are critical factors for long-term success in this field.
---