White Star Capital Launches $120M Crypto Fund with Focus on Web 3.0 and Metaverse

UTC by Bhushan Akolkar · 2 min read
White Star Capital Launches $120M Crypto Fund with Focus on Web 3.0 and Metaverse
Photo: White Star Capital / Facebook

The DAF II fund from White Star Capital seeks to invest in 20-25 companies operating in the Metaverse and Web 3.0 space across Europe, North America, and Asia.

On Monday, April 11, venture capital investment platform White Star Capital launched its new $120-million Digital Asset fund (DAF). This fund established by White Star Capital seeks to support Web 3.0 businesses and those operating in the Metaverse space.

White Star Capital said that its DAF II fund will invest in decentralized finance (DeFi), crypto networks, and other gaming companies. It further added that the fund will invest $1 million and $7 million in token and equity investments across 20-25 companies situated across Europe, North America, and Asia. The press release noted:

“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.”

The next generation of the internet is often referred to as Web 3.0. This will represent a decentralized world with users worldwide interacting in a decentralized manner. As per plans, Web 3.0 will likely reduce the influence of the Big Tech.

White Star Capital and Others: Investments in Web 3.0 and Metaverse

With the rise of the blockchain world and decentralized ledger, investments in Web 3.0 are picking up quickly. Earlier this year in February 2022, Stronghold also announced its $100 million Web 3.0 investment fund. Thus, White Star Capital is among the latest players to join the bandwagon. Speaking of this development, Managing Partner Sep Alavi said:

“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.”

In the recently launched DAF II crypto fund by White Star Capital for metaverse and Web 3.0, gaming giant Ubisoft is the anchor investor. Last year in May 2021, White Star Capital raised $50 million for its first blockchain and crypto investment fund.

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