White Star Capital, a multi-stage tech venture capital investment platform that backs founders building interantional businesses, announced the initial close of its second Digital Asset Fund (DAF II).
The fund, which will continue to invest in crypto-networks and early-stage blockchain or DLT-powered Web3 businesses, with a focus on DeFi and gaming, “is backed by major institutional investors and corporations including Ubisoft as an anchor LP.”
The DAF investment team takes “a deeply research-driven approach and applies both a crypto native and traditional VC lens to partner with founders across Seed, Series A, and token rounds.”
Since raising its first Digital Asset Fund in 2020, White Star Capital has successfully “invested in 20 companies across seven countries including Ledn, ALEX, Multis, Paraswap, Exlusible, and Rally, just to name a few.”
Dr. Chiente Hsu, CEO of ALEX, stated:
“White Star Capital has a track record of backing many of today’s top up-and-coming Defi start-ups and their experience has been very helpful as we grow our company. The team is passionate, driven and understands the steps entrepreneurs need to take to lead tomorrow’s decentralized world.”
The Digital Asset Fund (DAF II) will deploy “between $1 million and $7 million in token and equity investments into 20 to 25 companies with a core focus in North America, Europe, and Asia.”
The fund is run by Managing Partner Sep Alavi and “is supported by Eddie Lee and Luke Xiao in New York, Florent Jouanneau in London, Sanjay Zimmermann in Toronto, and Dimitri Nitchoun in Paris.”
Sep Alavi remarked:
“In less than two years, we’ve backed many of the world’s most successful and promising crypto companies as they were just starting out, which is a testament to our strategy, global network, and unique domain expertise. Through our new fund, we’re looking forward to continuing to back a new generation of visionary founders building tomorrow’s greatest Web3, DeFi, and Gaming companies as they unlock the new internet of value for billions of people around the world.”
Adams Reeds, co-founder and CEO of Ledn, said:
“Today’s builders need the backing of investors who know what it takes to build tomorrow’s next great digital asset company. White Star has established themselves as a top firm to help visionary founders scale. They have the team and the experience to be local champions while reaching global markets.”
As noted in a release, White Star Capital is an international multi-stage technology investment platform that aims to “invest in exceptional entrepreneurs building ambitious, international businesses.”
Operating out business offices in New York, Paris, London, Montreal, Toronto, Singapore, Hong Kong, and Guernsey their “presence, perspective, and people enable [them] to partner closely with our founders to help them scale internationally.”