White Star Capital, a U.S.-based multi-stage technology venture capital investment platform, recently announced it closed its $50 million Digital Asset Fund (DAF), which is described as a specialized fund investing in cryptocurrency networks and blockchain-enabled businesses. According to White Star, the fund exceeded its previously announced $20 million target and is backed by institutional investors and corporations, including Bpifrance and Ubisoft.
“The Digital Asset Fund (DAF) will deploy between $500,000 and $3 million in initial investments into 15-20 companies with a core focus in North America and Europe. The team takes a research-driven approach to maximize returns through early access in both equity and token investments.”
White Star further revealed that the fund has already made six investments, including dfuse, Multis, Paraswap, Rally, Ledn, and Safello, a European crypto brokerage that went public on the Nasdaq First North stock exchange on May 12th. Sep Alavi, General Partner of Digital Asset Fund at White Star Capital, shared more details about the fund by stating:
“With blockchain technology and digital assets, we are now digitizing value and money as well as building an entirely new financial infrastructure. We are hyper-focused on this space, and we expect to see further innovative use cases such as crypto credit, DeFi, NFTs, metaverses and more manifesting at an accelerated pace. We strongly believe blockchain and digital assets represent a colossal opportunity to grow the digital economy and are actively investing in crypto protocols, infrastructure, privacy, financial, gaming and social use cases.”
White Star Capital is a global multi-stage technology investment platform that invests in exceptional entrepreneurs building “ambitious, international businesses.” The company now operates out of Guernsey, New York, London, Paris, Montreal, Toronto, Tokyo, and Hong Kong.
