Psalion Launches $50M Blockchain Adoption Fund
Psalion, a global digital asset investment manager, has announced the launch of its third and largest venture fund to date. The USD 50 million vehicle is aimed at the next wave of blockchain adoption, with a focus on pre-seed and seed stage companies.
The new fund is structured as a Singapore-domiciled Variable Capital Company (VCC), managed by Conduit Asset Management Pte. Ltd. (CAM), which is licensed and regulated by the Monetary Authority of Singapore (MAS).
According to Tim Enneking, Managing Partner of Psalion, 'Crypto was the thesis. The traditional financial system was the antithesis. What we're investing in is the synthesis, where web2 businesses run on web3 rails.'
Psalion has a history of launching funds in down markets, and Enneking noted that 'some of the best opportunities arise in down markets. Valuations are more reasonable, founders are more focused, and the builders who show up are in it for the long term.'