New $30m digital asset fund makes first investment in Paris fintech
The Digital Asset Fund will deploy between $500,000 and $2m in initial investments into 15-20 companies at each layer of the tech stack, including protocols, infrastructure and applications. It will take a research-driven approach to maximise returns through early access in both equity and tokens.
Concentrating on North America and Europe, the fund has already made two investments: Multis, a Paris-based Y Combinator backed company, offering crypto-first business banking accounts to bridge the gap between decentralised and legacy finance, and dfuse, a Montreal-headquartered blockchain API company.
Digital Assets are gaining adoption, and venture valuations and token round distributions have rationalised, which is an attractive entry point, said Alavi. “Incumbents are rapidly entering the space and embracing the next wave of innovation. We are looking to partner with the next generation of startups building global networks and frictionless business models. We are actively interested in investing in crypto protocols, infrastructure and middleware, privacy, financial, gaming, and social use cases,” he explained.