FD7 Ventures Launches $250M Fund to Invest in ADA, DOT
CoinEdition
Published Mar 02, 2021 01:15PM ET
Updated Mar 02, 2021 01:30PM ET
FD7 Ventures Launches $250M Fund to Invest in ADA, DOT
- FD7 Ventures launches a $250M fund to invest in ADA & DOT.
- The firm has opened its office in Bangalore.
- FD7 partners noted that the firm is bullish on NFT projects.
FD7 Ventures has launched a $250 million micro-fund to invest in projects including Polkadot (DOT) and Cardano (ADA) ecosystem.
Based in India, FD7 has opened its office in Bangalore. The move is part of the firm’s strategic road map to create its presence in Bangalore. In addition, expansion into India’s investment space will offer FD7 benefits. Specifically, India’s university-level programs such as IIT can offer proximity to a hotbed for leading tech talents.
FD7 Ventures Global Managing Director Prakash Chand said,
“The India Institute of Technology (IIT) is churning out top talent who are already working on Polkadot and Cardano projects at the university level.”
Even more, the claim of top tech talents from the university is backed by a long list. Notably, IIT grads include Alphabet (NASDAQ:GOOGL) and Google CEO Sundar Pichai, Sun Microsystems Co-Founder Vinod Khosla, Fairfax Financial Holdings (OTC:FRFHF) CEO Prem Watsa, and SoftBank former President Nikesh Arora.
Nevertheless, FD7’s new fund aims to make investments of approximately $1-5 million across 50 firms yearly. With roughly 30% of those Polkadot and Cardano ecosystem-related firms receiving secondary investments of $5-20 million, depending on their growth metrics.
In addition, FD7 partners noted that the firm is bullish on NFT projects. Also, they will seek investment opportunities to bolster their DOT and ADA-based project holdings. Moreover, FD7 is excited to have plans on the way to work with professional cricket players and Bollywood celebrities on NFT projects in the near future.
Last month, FD7 Ventures also shifted $750M worth of BTC into ADA and DOT holdings after saying that Bitcoin is useless.
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Written By: CoinEdition
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