Indian crypto trade CoinSwitch has launched a Web3 Discovery Fund with preliminary capital of US$10 million to again early stage startups.
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The Web3 Discovery Fund will curate portfolio startups and supply single-window entry to marquee investor companions, equivalent to Tiger World, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF companions), in addition to incubation companion Buidlers Tribe, the corporate stated in an announcement. The initiative will observe progress, curate and facilitate subsequent fundraising of its portfolio startups from its investor companions.“India wants platforms and funds that establish and allow early stage Web3 startups that remedy actual (world) use circumstances, to not simply fund them but in addition mentor and equip them to hit the market and develop,” CoinSwitch founder Ashish Singhal stated on Twitter.CoinSwitch Web3 Discovery Fund may also be an AWS Activate Supplier. The fund’s early stage portfolio startups can apply for AWS Activate Portfolio and obtain AWS credit, technical help, coaching and sources, to speed up their development.CoinSwitch, which says it has 18 million customers, was based in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari.
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