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.
May 20, 2021 at 12:55 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/AAMQUYI6VFEQJKTLM7V5TV6XGM.jpg)
White Star Capital, a tech-focused venture capital firm, has closed a $50 million fund dedicated to investing in blockchain firms and cryptocurrency networks.
- 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.
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