Venture capital company White Star Capital raised $150 million for the second Digital Asset Fund (DAF II). The structure will focus on investments in crypto networks, startups from the Web3 business, Defi, and blockchain gaming.
The anchor investor of DAF II was the gaming giant Ubisoft.
The fund plans to invest between $1 million and $7 million in tokens and shares of 20-25 companies, mainly from North America, Europe, and Asia.
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“The DAF investment team is taking a deeply exploratory approach, applying both crypto-industry and traditional venture capital valuations to partner with startups in seed rounds, Series A funding, and token sales,” the press release reads.
The company’s first DAF has invested in 20 companies since its inception in 2020, including Len, ALEX, Multis, ParaSwap, Exclusive, and Rally.
“With the new fund, we look forward to continuing to support a new generation of forward-thinking founders building the companies of tomorrow for Web 3.0, Defi, and gaming as they open up a new “Internet of Value” to billions of people around the world,” said DAF II Managing Partner Sep Alavi.
Recall that Uniswap Labs, the company behind the Uniswap Ethereum exchange, has created a venture arm to invest in Web 3.0.
