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CoinSwitch launches $10 mn fund to support start-ups, blockchain tech

Web3 Discovery will give entrepreneurs access to investors like Tiger Global, Ribbit Capital, Coinbase Ventures

cryptocurrency | crypto trading | Tiger Global


Photo: Bloomberg
Photo: Bloomberg

Indian crypto company CoinSwitch has launched a $10 million fund for investments in early-stage start-ups and building blockchain solutions.

The Web3 Discovery Fund will curate portfolio start-ups and provide single-window access to investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, India, Woodstock Fund, Elevation Capital (ex-SAIF partners), and incubation partner Builders Tribe.

“The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realize this vision of #MadeinIndia Web3, we have to identify and enable entrepreneurs and early-stage startups," said Ashish Singhal, co-founder and chief executive officer of CoinSwitch, referring to a version of the worldwide web based on decentralised blockchain technologies.

CoinSwitch was founded in 2017 by Singhal, Govind Soni, and Vimal Sagar Tiwari. It is backed by blue chip investors that include Andreessen Horowitz, Tiger Global, India, Ribbit Capital, Paradigm, and Coinbase Ventures, CoinSwitch.

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First Published: Wed, August 10 2022. 14:40 IST