LONDON (Bywire News) – Round 13 Capital has launched a new investment fund dedicated to the emerging blockchain and digital asset markets. The new crypto native fund has so far raised around $70 million of an initial target of $100 million thanks to investment from a major Canadian Pension Fund, high net worth individuals, family offices and members of the Round 13 team. The fund has also partnered with Satstreet, one of Canada’s fastest growing digital investment firms which has a strong track record in the crypto space.
The fund is looking for projects with highly technical teams solving problems involving scalability, and interoperability and those bringing top tier applications, all of which are themes which will play a fundamental role in building the infrastructure for the mass adoption of Web 3 projects.
The fund has also invested in a number of projects such as UK Based Improbably World’s, US based Trust Machines and Ibex as well as the Canadian based Chainsafe and Red Jar Digital Infrastructure (RJDI).
The new fund benefits from the guiding hands of two veterans of the blockchain and digital asset space, Satraj Bambra and Khaled Verjee. Bamba comes from a software engineering background and has built and sold two companies. The was most recently the co-founder and CEO of Block EQ a mobile native wallet and decentralised exchange built on Stellar’s blockchain.
Verjee, meanwhile is a lawyer and investment banker but has been an early investor in blockchain start-ups since 2015.
“I’ve been immersed in this space for several years but have not seen as much interest in the emerging blockchain and digital asset market as we are seeing today,” said Bambra. “We are seeing a particularly encouraging and rapidly growing trend of new teams joining and building blockchain applications and protocols. This has historically been the strongest signal of adoption and growth. I truly believe we are just getting started and the best is yet to come.”
For Verjee, meanwhile, the fund is a chance to support the growing number of developers operating in Canada as well as globally.
“It’s very encouraging that a pension fund and traditionally conservative family offices are actively investing in our fund and looking to capitalize on the tremendous opportunities in the market,” he said. “And while this fund will invest globally, we are uniquely positioned in Canada to invest in and support the robust and growing number of developers building in the space.”
The new Round 13 fund is a member of the Web3 Council of Canada and anticipates playing an important role in the development of a strong regulatory framework.
(Writing by Tom Cropper, editing by Klaudia Fior)
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