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CoinSwitch on Tuesday announced the launch of Web3 Discovery Fund, the company’s corporate venture capital initiative. The fund will invest in and incubate early-stage startups building blockchain solutions for the rapidly evolving Web3 landscape.
“The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realize this vision of Made in India Web3, we have to identify and enable entrepreneurs and early-stage startups leveraging the potential of Crypto to solve real-world problems unique to India. I’m absolutely thrilled to work with Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, Elevation Capital, and Buidlers Tribe toward this mission,”said Ashish Singhal, Co-founder and CEO, CoinSwitch.
The Web3 Discovery Fund intends to curate portfolio startups and provide single-window access to marquee investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF partners), and incubation partner Buidlers Tribe. CoinSwitch Web3 Discovery Fund will be an AWS Activate Provider. The fund’s early-stage portfolio startups can apply for AWS Activate Portfolio and receive AWS credits, technical support, training, resources, and more to accelerate their growth. Further, the portfolio startups will also benefit from ready access to CoinSwitch’s in-house capabilities, ecosystem network, and 18 million-strong user base, accelerating their product life-cycle strategy.