CoinDCX, India’s leading player in the crypto space, launches a new crypto VC Fund, CoinDCX Ventures, to invest in early stage web3 startups.
CoinDCX Ventures to invest in early-stage crypto and blockchain startups
According to the company, CoinDCX Ventures would invest funds in early-stage crypto and blockchain startups, in a bid to bolster India’s digital asset ecosystem and accelerate the country’s digital economy.
“We believe distributed ledger technologies will impact every aspect of our lives, and that we have just touched the tip of the iceberg. As a fund which specializes in web3 and blockchain investing, our vision is to invest in and help build companies to become category leaders and add real value to its stakeholders and help build the broader ecosystem.”
CoinDCX
The crypto exchange will set aside around $13 million (Rs. 100 crores) for CoinDCX Ventures over the next 12 months – to support & accelerate the growth of Web3 ecosystem.
CoinDCX brings on board Rohit Jain, a Harvard Business School graduate, as Senior Vice President and Head of Ventures and Investments, to lead the investment arm.
Sumit Gupta, co founder and CEO of CoinDCX, said:
“CoinDCX Ventures marks yet another great milestone in the company’s already phenomenal 2022, and we are not even halfway through the year. This is an immense leap forward for CoinDCX as we continue to chart the way forward and shape the Web3 industry at large, placing India on the map as a global hub for crypto and blockchain innovation.”
“Having worked closely with venture capitalists in the space, we understand the value and importance of such support, inspiring our move to contribute to the still nascent industry as it cements its position in the future of finance and technology.”
CoinDCX Ventures has already made several investments in blockchain and crypto startups, including a cross chain bridge protocol, a Decentralized push notification protocol, a Web3 social network, a Web3 gaming platform, as well as a decentralized cloud storage, to name a few.
CoinDCX Ventures’ Investments
- Spheron – a decentralized cloud storage infrastructure for web3 developers.
- EPNS – Decentralized push notification protocol that enables dApps to communicate with their users.
- MetaEngine – a gaming platform to offer real-time gaming development. The Web3 gaming engine enables AAA quality multiplayer games/metaverse in web3.
- Syndr – Efficient protocol that enables synthetic assets with lower collateralization ratios than incumbents.
- Router – Cross-chain solutions that unifies liquidity across chains, and enables cross-chain communication.
- Liminal – Wallet as a service and custody solution for insitutions, focus on APAC/ MENA.
- Taki – a web3 social network where users can earn a daily income by simply posting content and engaging with community.
CoinDCX is the most valuable Indian crypto company
CoinDCX has raised a total of $244 million in funding over 9 rounds. Last month, CoinDCX closed its latest funding of over $135 million in an oversubscribed Series D round. The funding valued CoinDCX at $2.15 billion, making it the most valuable Indian crypto company.
Read Also: CoinDCX Is Now India’s First Crypto Unicorn After $90M Funding
