NEW DELHI: India's premier Crypto investing app CoinSwitch has announced a Web3 Discovery Fund, which will invest in and incubate early-stage startups building blockchain solutions for the quickly evolving Web3 landscape.
According to a statement from the company, the Web3 Discovery Fund will select portfolio startups and offer single-window access to notable investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF partners), as well as incubation partner Buidlers Tribe.
"Our conviction that India will serve as the starting point for Web3 projects at the population scale led to the creation of the venture programme. We must find and support entrepreneurs and early-stage firms using the potential of cryptocurrency to solve real-world issues specific to India in order to realise this goal of "Made in India Web 3." "Co-founder and CEO of CoinSwitch, Ashish Singhal, said
AWS Activate Provider status will also be granted to CoinSwitch Web3 Discovery Fund.
Startups in the early stages of the fund's portfolio are eligible to apply for AWS Activate Portfolio and have access to AWS credits, technical assistance, training, tools, and more to help them expand more quickly.
Besides, the portfolio firms will gain from having immediate access to CoinSwitch's internal resources, ecosystem network, and 18 million users, which will speed up their product life-cycle approach.
The company claims that Web3 Discovery Fund will be a proactive investor and offer strategic support for the fast-paced expansion of the startups in its portfolio.Founders and builders can pitch at firstname.lastname@example.org, the company said.