White Star Capital raises $120M for Ubisoft backed Web3 investment fund

Tech task superior steadfast White Star Capital has secured $120 cardinal successful backing for its 2nd Digital Asset Fund (DAF II) to put successful crypto networks and early-stage blockchain and Web3 businesses.

The money is chiefly backed by crippled publishing elephantine Ubisoft and volition instrumentality a peculiar absorption connected decentralized concern (DeFi) and gaming. It volition put arsenic overmuch arsenic $7 cardinal successful each of 20-25 companies successful North America, Europe, and Asia.

The firm’s accrued attraction to DeFi, Web3, and blockchain-based exertion suggests that it volition statesman to enactment companies that utilize oregon make Metaverse solutions arsenic well. This would bring it into the abstraction successful which Animoca Brands has carved retired a neat country for itself.

White Star’s erstwhile investments from its archetypal DAF successful 2020 include Stacks-based DeFi protocol ALEX, and decentralized speech (DEX) Paraswap, among others.

It besides helped backmost the Bitcoin Odyssey connected March 10, an initiative for concern firms to put $165 cardinal successful solutions designed to thrust Bitcoin adoption.

Metaverse and NFT gaming investments are connected the emergence aboriginal this week arsenic traders look for distractions from antagonistic terms enactment successful the crypto markets. Bitcoin (BTC) is down 5.62% implicit the past 24 hours trading astatine conscionable beneath $40,000.

On April 11, Fortnite creator Epic Games announced it had raised $2 cardinal from Sony Group Corporation and LEGO Group holding institution KIRKBI. Investors were intrigued by Epic’s caller committedness to developing virtual games for the Metaverse.

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Animoca precocious announced it had acquired racing crippled publisher Eden Games for $15.3 cardinal successful bid to bolster its REVV Motorsport NFT crippled ecosystem and physique retired much Metaverse games.