Miguel Cordon · · 2 min readSaison Capital to accelerate Web3 investments with new token fund
Photo credit: Saison Capital
Saison Capital, the venture arm of Credit Saison, has set up a new token fund to accelerate investments across the Web3 sector despite the current market downturn.
The Singapore-based investor told Tech in Asia that the average first check via the token fund, which is also backed by Credit Saison, ranges between US$200,000 to US$500,000 with “follow-on support” throughout the portfolio company’s journey.
The VC firm noted that it looks to continue backing Web3 founders with “strong Web2 experience.” So far, it has done 30 deals in the sector, which have primarily been a combination of equity and tokens.
“The borderless promise of Web3 has yet to be fully realized when it comes to the opportunities for Asia-based startups,” Qin En Looi, principal at Saison Capital, said in a statement.
Some of its portfolio firms include trading platform Finblox, multiparty computation-protected wallet Krayon, and Web3 gaming outfit Avium. Saison Capital also recently participated in the US$5 million seed round of Gomu, an NFT infrastructure firm.
The investor added that as a Startup SG Entrepass Partner, foreign founders in its portfolio will have extra support, dependency passes, and accelerated application processes.
Saison Capital also aims to give its portfolio firms tokenomics advisory and talent acquisition support to accelerate their go-to-market strategies within Southeast Asia and India.
See also: 43% of Singaporeans own cryptocurrency despite declining confidence
Editing by Thu Huong Le and Lorenzo Kyle Subido
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