White Star Capital raises $50m for digital asset vehicle

The specialized fund will invest in crypto-networks and blockchain-enabled businesses and exceeded its previously announced target of $30m.

Multi-stage investor White Star Capital announced it has held a final of $50 million on its Digital Asset Fund, a specialized fund that focuses on seed-stage crypto-networks and blockchain-enabled businesses. The firm had previously held a $30 million first close on the fund last year. The firm said backers included institutional investors and corporations, such as Bpifrance and Ubisoft.

The fund gives White Star more than $700 million in assets under management and a global team with presence across North America, Europe and Asia. The Digital Asset Fund marks the firm’s first specialized fund, and it will be run by New York-based general partner Sep Alavi, who will be joined by principals Thomas Klocanas in New York and Sanjay Zimmerman in Toronto.

Source: White Star Capital