Crypto Investment Fund FD7 Ventures Launches A $250 Million Micro-Fund In India
FD7 Ventures, a Dubai-based crypto investment fund, has opened its first India office in Bengaluru and launched a $250 million micro-fund.
The micro fund aims to invest in altcoin projects such as Polkadot (DOT) and Cardano (ADA).
The company, in a statement, said FD7 aims to invest approximately $1-5 million across 50 companies yearly with the new fund.
Around 30% of Polkadot and Cardano ecosystem-based companies would receive secondary investments in the range of $5-20 million, depending on their growth metrics, the statement added.
The India-focused fund will be led by Neeraj Singh.
Recently, India-based cryptocurrency startups CoinDCX, CoinSwitch Kuber, Zebpay, WazirX, Unocoin, and PocketBits signed up for an online petition to educate and build awareness amongst policymakers and the public about cryptocurrencies.
Speaking on the fund, Prakash Chand, global managing director at FD7 Ventures, said,
“Positioning our new location where we have in Bangalore gives us a home-field advantage to tap into some of the world’s best future talent in blockchain and cryptocurrency development.”
The Dubai-based crypto investment fund claims to have $1 billion in Bitcoin under management.
With offices in Dubai, UAE, and Toronto, Canada, the fund make investments in all stages of crypto and blockchain projects.
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