CoinSwitch's Web3 Discovery Fund to empower up to 100 Indian startups

by IANS |

New Delhi, Aug 10 (IANS) India's largest Crypto investing app CoinSwitch has announced a Web3 Discovery Fund, which will invest in and incubate early-stage startups building blockchain solutions for the rapidly evolving Web3 landscape.

The Web3 Discovery Fund will 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, the company said in a statement.

"The venture programme is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realise this vision of #MadeinIndia 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," said Ashish Singhal, Co-founder and CEO, CoinSwitch.

CoinSwitch Web3 Discovery Fund will also 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.

According to the company, Web3 Discovery Fund will be an active investor and provide strategic support for the rapid growth of the portfolio startups.

Founders and builders can pitch at ventures@coinswitch.co, the company said.

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