White Star Capital announced $120M for Second Crypto Fund

Venture capital platform White Star Capital announced $120 million Digital Asset Fund (DAF II) will invest in crypto networks, decentralized finance and gaming companies according to a press release on Monday.

“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,” White Star stated on the news. “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 company says the DAF II will deploy between $1 million and $7 million in token and equity investments into 20 to 25 companies mainly in North America, Europe, and Asia.

“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,” said General Partner Sep Alavi at White Star Capital. “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.”

Web3, also known as Web3.0, is a concept for a new iteration of the internet based on blockchain technology.  Some argue that it will be controlled by users rather than “Tech Giants” which control the internet nowadays.  

DAF II is the latest huge investment in Web3 this year.  In February, Stronghold has launched Stronghold Capital to invest $100 Million, which is focused on overlooked and underrepresented founders and fund managers, the payments and fintech ecosystem, as well as Web3 and blockchain ecosystem.

About White Star Capital

White Star Capital is a global multi-stage technology investment platform that invests in exceptional entrepreneurs building ambitious, international businesses. Operating out of New York, Paris, London, Montreal, Toronto, Singapore, Hong Kong, and Guernsey our presence, perspective, and people enable us to partner closely with our founders to help them scale internationally.