Return to search

White Star holds initial close for second digital asset fund

DAF II will continue to invest in crypto-networks and early-stage blockchain-enabled Web3 businesses, with a focus on DeFi and gaming.

White Star Capital, a technology-focused venture capital firm, held a first close in its second digital asset fund. DAF II will continue to invest in crypto-networks and early-stage blockchain-enabled Web3 businesses, with a focus on DeFi and gaming. Ubisoft is serving as an anchor LP. White Star operates out of Guernsey, New York, Paris, London, Montreal, Toronto, Singapore and Hong Kong.

PRESS RELEASE

LONDON, April 11, 2022 /PRNewswire/ — White Star Capital, a multi-stage technology venture capital investment platform that backs founders building global businesses, announced the first close of its second Digital Asset Fund (DAF II). The new fund, which will continue to invest in crypto-networks and early-stage blockchain-enabled Web3 businesses, with a focus on DeFi and Gaming, is backed by major institutional investors and corporations including Ubisoft as an anchor LP.

The DAF investment team takes a deeply research-driven approach and applies both a crypto native and traditional VC lens to partner with founders across Seed, Series A, and token rounds. Since raising its first Digital Asset Fund in 2020, White Star Capital has successfully invested in 20 companies across seven countries including Ledn, ALEX, Multis, Paraswap, Exlusible, and Rally, just to name a few.

“White Star Capital has a track record of backing many of today’s top up-and-coming Defi start-ups and their experience has been very helpful as we grow our company,” said Dr. Chiente Hsu, CEO of ALEX. “The team is passionate, driven and understands the steps entrepreneurs need to take to lead tomorrow’s decentralized world.”

The Digital Asset Fund (DAF II) will deploy between $1 million and $7 million in token and equity investments into 20 to 25 companies with a core focus in North America, Europe, and Asia. The fund is run by Managing Partner Sep Alavi and is supported by Eddie Lee and Luke Xiao in New York, Florent Jouanneau in London, Sanjay Zimmermann in Toronto, and Dimitri Nitchoun in Paris.

“In less than two years, we’ve backed many of the world’s most successful and promising crypto companies as they were just starting out, which is a testament to our strategy, global network, and unique domain expertise,” said Sep Alavi. “Through our new fund, we’re looking forward to continuing to back a new generation of visionary founders building tomorrow’s greatest Web3, DeFi, and Gaming companies as they unlock the new internet of value for billions of people around the world.”

“Today’s builders need the backing of investors who know what it takes to build tomorrow’s next great digital asset company,” said Adams Reeds, co-founder and CEO of Ledn. “White Star has established themselves as a top firm to help visionary founders scale. They have the team and the experience to be local champions while reaching global markets.”

About White Star Capital
White Star Capital is a global multi-stage technology investment platform that invests in exceptional entrepreneurs building ambitious, international businesses. Operating out of New York, Paris, London, Montreal, Toronto, Singapore, Hong Kong, and Guernsey our presence, perspective, and people enable us to partner closely with our founders to help them scale internationally.