White Star Capital Digital Asset Fund - newsletter #78
White Star announces a Second $120M Digital Asset Fund
White Star announces a Second $120M Digital Asset Fund
White Star Capital Digital Asset Fund - newsletter #78
White Star is thrilled to announce its second Digital Asset Fund which will partner with the brightest founders and empower them on their mission to onboard the next wave of masses into crypto. Ubisoft, the gaming powerhouse behind Assasin’s Creed and Far Cry series, will be backing the second fund as it lead anchor investor.
Digital Asset Fund 2 will be a dedicated crypto fund focused on applications, infrastructure, and gaming. White Star will aim to back 20-25 companies across North America, Europe and Asia, deploying between $1 to $7 million at a time. The fund will invest in both equity and tokens.
The second fund comes following the success of the Digital Assets Fund 1 which launched in 2020. To date, Fund 1 has backed 20 amazing startups including Ledn, Alex, Multis, Paraswap, Exclusible, and Rally. White Star remains confident that our team can continue to identify the strongest founders that are solving the most challenging problems in space.
"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," said Dr. Chiente Hsu, CEO of ALEX. "The team is passionate, driven and understands the steps entrepreneurs need to take to lead tomorrow's decentralized world."
White Star strongly believes Web3 is the next paradigm shift where decentralization and permissionless blockchains and their application thrive. The firm is excited to double down on that belief and support founders in building their vision.
🔦 White Star & Portfolio Spotlight
Index Coop’s icETH tops $9M TVL in less than 1 month
Index Coop icETH product offers highly competitive yield over staked Eth
Exclusible announces upcoming NFT collection
Exclusible partners with La Table du Chef for upcoming collection
🏦 Enterprises & Institutions
Epic Games announces $2B in funding for its metaverse efforts
Epic Games will invest the funds to build their vision of the metaverse
Bolt acquires crypto payments company, Wyre for $1.5B
Bolt a financial tech company acquires a crypto payments focuses Wyre
⚖️ Government & Regulation
BIS releases study of CBDCs and their role in the financial inclusion of underbanked
The report looks at ways to help financial inclusion of the underbanked
💰 Funding & Exits
Near Protocol raises $350M for its Layer 1 protocol
Round is led by Tiger Global and will help NEAR blockchain grow by establishing regional hubs
Circle announces $400M raise partnering with BlackRock
Blackrock will be a strategic investor and explore capital market applications with USDC
CertiK raises $88M at a $2B valuation as a Blockchain Security firm
Insight and Goldman Sachs participated in the Series B3 round
Binance.US raises $200M+ at a $4.5B pre-money valuation
Binance US affiliate closes its seed round
Improbable raises $150M for an interoperable metaverse
Improbable will allow businesses to build virtual experiences on its platform
🚀 Project Launches & Updates
Pantera seeks to raise $200M for growth stage fund
Pantera is targeting a close in May
Ignite launches a $150M accelerator for Web3
The accelerator program aims to support 20 projects per year across 2 cohorts
HBAR Foundation launches a $250M ecosystem fund for Hedera
Fund will help accelerate growth on the Hedera ecosystem
🔥 Other Bits We're Excited About
ESPN partners with Tom Brady’s NFT Platform, Autograph
This marks ESPN first NFT offering
Coinbase will produce Bored Ape Yacht Club animated short films
Coinbase will create the series with approval from Yuga Labs