Singapore Firm Psalion Launches $50M Blockchain Fund Amid Web3 Adoption

Singapore-based digital asset firm Psalion has launched a $50 million venture fund to back blockchain startups, particularly in areas like infrastructure, trade finance, real-world assets, and stablecoins.

The new fund is structured as a Singapore-domiciled Variable Capital Company (VCC) and managed by Conduit Asset Management Pte. Ltd., a Monetary Authority of Singapore, licensed entity.

Psalion's Managing Partner Tim Enneking said the firm's strategy remains unchanged, investing in startups during market downturns when valuations are more reasonable and founders are more focused.

The fund has already made its first disclosed investment, leading a $4 million round for Beezie, a commerce platform that blends ownership, anticipation, discovery, and liquidity to turn transactions into experiences.