certify
Home arrow Article arrow Article Detail

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

Profile Image

Indrani bose Follow

INDIA

Apr, 14 2022

Apr, 14 2022

likes 0 | comments 0

Article Image

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.


likes 0 Likes | comments 0 Comments

Profile Image

Indrani bose

CBW - External Analyst

INDIA

Comments
Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.