White Star Capital Announced Its Second Digital Fund, DAF II

White Star Capital announced its second Digital Asset Fund (DAF II). The fund will focus on web3 companies and cryptocurrency networks in their early stages. A total of $120 million is expected to be invested.

Gaming companies and DeFi will be the center of attention of DAF II, supported by institutional investors, such as anchor LP and Ubisoft. The investment team of the fund will look to partner with founders across Seed, token rounds and Series A.

The new fund has a similar concept to the recently launched Investcorp Fund.

The first fund that was launched in 2020 has invested in 20 companies. Among the companies that were invested in the first fund are Ledn, Paraswap, Rally, Exlusible, ALEX and Multis.

DAF II will invest between $1 million and $7 million in 20 to 25 companies in the United States, Europe and Asia. Sep Alavi will be managing the fund with the support of Eddie Lee, Luke Xiao, Florent Jouanneau, Sanjay Zimmermann and Dimitri Nitchoun.

Officials Statements

Dr Chiente Hsu, the CEO of ALEX said: "White Star Capital has a track record of backing many of today's top up-and-coming Defi start-ups and their experience has been very helpful as we grow our company.

"The team is passionate, driven and understands the steps entrepreneurs need to take to lead tomorrow's decentralized world."

Adams Reeds, the Co-Founder and CEO of Ledn, said, "Today's builders need the backing of investors who know what it takes to build tomorrow's next great digital asset company.

"White Star has established themselves as a top firm to help visionary founders scale. They have the team and the experience to be local champions while reaching global markets."

Sep Alavi said the following about the new fund: "In less than two years, we've backed many of the world's most successful and promising crypto companies as they were just starting out, which is a testament to our strategy, global network and unique domain expertise.

"Through our new fund, we're looking forward to continuing to back a new generation of visionary founders building tomorrow's greatest Web3, DeFi and Gaming companies as they unlock the new internet of value for billions of people around the world."