CoinSwitch comes with $10 million Web3 discovery fund

17 Aug 2022 , 11:50 AM

Early-stage companies from India in this industry continue to draw money from investors despite the massacre in the cryptocurrency market and doubts about the usefulness of web3 solutions.
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CoinSwitch Kuber has introduced a $10 million Web3 Discovery Fund. For entrepreneurs in the industry’s services, goods, and infrastructure, it will issue checks ranging from $25,000 to $250,000.
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Additionally, the fund would provide these firms access to well-known investors, including Coinbase Ventures, Tiger Global, Sequoia Capital, and Ribbit Capital.
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According to Vaas Bhaskar, principal at the fund that has backed Polygon and announced six investments in the past 12 months, early-stage investor Elevation Capital, a partner in the discovery fund, plans to expand the team evaluating this industry and continues to have a “high capital commitment” for Web3 startups.