There's a new VC fund in Singapore, and unlike other investment firms, it will focus on investing in startup companies within the blockchain/digital asset space.
The fund, which is $75 million in size, is a joint collaboration between SBI Group, Sygnum, and Azimut Group.
Fund Details
- Fund Size: $75 million
- Stages: Pre-series A and Series A startup companies
- Sectors: Blockchain, Decentralized Finance (DeFi), Distributed Ledger Technology (DLT), regtech, among others.
- Locations: Southeast Asia, Europe
Why It Matters
- There has been a growing investor appetite for companies developing crypto/blockchain technology as of late, with many large companies acquiring startups in this space.
- In the first half of 2021, $17 billion was invested into blockchain/DeFi companies — a 5X increase since 2019.
- The new fund is incorporated in Singapore as a Variable Capital Company.
