CoinSwitch Ventures’ fund facilitates $25 million in funding for 12 Web3 start-ups

CoinSwitch Ventures’ Web3 Discovery Fund has facilitated nearly $25 million in follow-on funding across 12 Web3 and blockchain startups. It also expanded the network of venture capital investors from six to more than 70 participants.

While the majority of funding has been facilitated by the venture capital network, CoinSwitch Ventures has made partial investments in startups. The 12 funded startups include PYOR, Silence Labs, AirStack, Mohash, Shield, PolyTrade, BitsCrunch, and PlayZap. It is built on blockchain infrastructure, blockchain analytics, and real-world asset tokenization.

It acts as a catalyst

The Web3 Discovery Fund has acted as a catalyst, connecting more than 100 startups with global investors, including high-profile names like Andreessen Horowitz (a16z), Coinbase Ventures and Sequoia Capital, the venture fund said.

“Our fund philosophy was born out of the challenges we faced creating CoinSwitch. The barrier then led us to create a fund that not only provides funds, but also expertise and networking opportunities. It is with great pride that I share our achievement of facilitating nearly $25 million in funding The Following for Groundbreaking Innovations in the Web3 Space”. said Ashish Singhal, Co-Founder and CEO of CoinSwitch.

CoinSwitch launched its corporate venture capital initiative – the Web3 Discovery Fund – in August 2022. It aims to curate emerging portfolio for evaluation by global investors and provide a single window of access to Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital ( Ex-SAIF Partners), as well as Buidlers Tribe, custody partner.

“Through the Discovery Fund, we are identifying and enabling early-stage entrepreneurs and startups to harness the potential of crypto to solve real-world problems,” said Parth Chaturvedi, Chief Investment Officer at CoinSwitch Ventures. “Even in a bear market, we have seen a massive influx of innovative startup ideas. Our goal It is to build a bridge that will enable Indian startups to access global capital, thus facilitating the growth of the Indian Web3 ecosystem.”