Multi-stage technology venture capital investment firm White Star Capital announced first close of DAF II securing $120 million


Multistage technology
venture capital investment firm White Star Capital announced the first close of
its second Digital Asset Fund (DAF II). In this the company has secured $120
million in funding to invest in crypto networks and early-stage blockchain and
Web3 businesses with a focus on decentralized finance (DeFi) and Gaming.
The Digital
Asset Fund is backed by major institutional investors and corporations
including game publishing giant Ubisoft as an anchor LP. A total of $1 million
and $7 million in token and equity will be invested in each of the 20 to 25
companies with a focus in North America, Europe, and Asia. Sep Alavi is the
fund's managing partner. Eddie Lee and Luke Xiao, Florent Jouanneau, Sanjay
Zimmermann, and Dimitri Nitchoun are its partners in New York, London, Toronto,
and Paris.
Due to the
firm's increased interest in DeFi, Web3 and blockchain-based technology, it is
likely to begin supporting companies that utilize or develop metaverse
solutions. Across Seed, Series A, and token rounds, DAF's investment team
applies both a crypto native and traditional VC lens to partner with founders. As
traders look for distractions from the bearish crypto market, Metaverse and NFT
gaming investments are on the rise early this week. Over the past 24 hours
bitcoin is down 5.62% trading at just below $40,000.
Earlier moves
made by White Star Capital :
Previous
investments from White Star Capital’s first Digital Asset Fund DAF was in 2020 in
which White Star Capital has successfully invested in 20 companies across seven
countries including Ledn, Stacks-based DeFi protocol ALEX, decentralized
exchange (DEX) ParaSwap, Multis, Exlusible, and Rally, are among them. In
addition, it backed an initiative Bitcoin Odyssey on Sunday, which was for
investment firms to invest $165 million in solutions designed to drive Bitcoin
adoption.
Fundraised by
other firms :
On Monday,
Fortnite creator Epic Games declared that it had raised $2 billion from Sony
Group Corporation and LEGO Group holding company KIRKBI. Epic's new commitment
to developing virtual games for the Metaverse attracted investors. Recently Animoca
Brands announced about acquiring Eden Games which is a racing game publisher for
$15.3 million to support its REVV Motorsport NFT game ecosystem and create more
metaverse games.

Indrani bose
CBW - External Analyst
INDIA