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VC Firm White Star Capital Raises $50M for Crypto and Blockchain Fund
The fund has already invested in six firms, including the Safello crypto exchange.
White Star Capital, a tech-focused venture capital firm, has closed a $50 million fund dedicated to investing in blockchain firms and cryptocurrency networks.
STORY CONTINUES BELOW
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- Announced in an emailed press release on Thursday, White Star said the Digital Asset Fund had passed its original target of $20 million and is backed by institutional investors and corporations including Bpifrance and Ubisoft.
- The news marks White Star's first specialized blockchain and digital assets fund.
- The digital assets fund will be managed by White Star general partner Sep Alavi and principal investors Thomas Klocanas and Sanjay Zimmermann.
- It will initially invest between $500,000 and $3 million into 15 to 20 startups, focusing primarily on North America and Europe.
- Six investments have already been made in firms including dfuse, Multis, Paraswap, Rally, Ledn and Safello, a Swedish crypto exchange that recently went public on the Nasdaq First North.
Also read: 5 New Funds Bring $100M to Boost Growth of the Solana Ecosystem
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics. Daniel holds small amounts of BTC and ETH (See: Editorial Policy).
