Most Blockchain companies are domiciled in offshore jurisdictions. Do we choose jurisdiction, the place where the founders are living (digital nomads), or the country of origin as the place the fund is being launched for the thesis?
For the thesis, use the place where the fund is being launched in and where it plans to make investments. LPs generally do not like to invest in multiple countries, as funds are a pass through vehicle. Most LPs prefer to invest in a specified country or region.