Venture firm White Star Capital has raised $150M for its second Digital Asset Fund (DAF II). The structure will focus on investments in crypto networks, startups from the Web3 business, DeFi and blockchain gaming.
The anchor investor of DAF II was the gaming giant Ubisoft.
The fund plans to invest between $1 million and $7 million in tokens and shares of 20-25 companies, mainly from North America, Europe and Asia.
“The DAF investment team is taking a deeply exploratory approach, applying both crypto industry and traditional VC valuations to partner with startups in seed rounds, Series A funding, and token sales,” according to the press release.
The company’s first DAF since its inception in 2020 has invested in 20 companies including Ledn, ALEX, Multis, ParaSwap, Exlusible and Rally.
“With the new fund, we look forward to continuing to support a new generation of visionary founders building the companies of tomorrow for Web 3.0, DeFi and gaming as they unlock the new ‘Internet of Value’ for billions of people in the world,” said the managing partner of DAF II Sep Alavi.
Uniswap Labs, behind Uniswap, has created a venture division for investments in Web 3.0.
