Crypto Beginner

CoinSwitch launches corporate venture capital initiative, Web3 Discovery Fund 

 CoinSwitch launches Web3 Discovery Fund 

CoinSwitch has announced the launch of a corporate venture capital initiative called the Web3 Discovery Fund. The fund will invest in and incubate early-stage startups that are trying to build blockchain solutions in the evolving Web3 landscape.

The Web3 Discovery Fund will essentially be curating portfolio startups for evaluation by marquee global investors. It will also provide single-window access to Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, and Elevation Capital (ex-SAIF partners), as well as Buidlers Tribe, an incubation partner.

The fund’s early-stage portfolio startups can apply for AWS Activate Portfolio, a program that helps startups to build their companies. They will be eligible to receive AWS credits, technical support, training, resources, and more to accelerate their growth. The startups also stand to benefit from the in-house capabilities, ecosystem network, and 18 million-strong user base at CoinSwitch.

Explaining the decision to launch the fund, Ashish Singhal, the co-founder and CEO of CoinSwitch, said, “The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realize this vision of #MadeinIndia Web3, we have to identify and enable entrepreneurs and early-stage startups leveraging the potential of Crypto to solve real-world problems unique to India. That’s the raison d’être of the Web3 Discovery Fund.”

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user’s own risk.

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