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HomeTechnologyUbisoft backs White Star Capital’s second crypto-focused venture fund

Ubisoft backs White Star Capital’s second crypto-focused venture fund

As an anchor investor, Ubisoft has funded White Star Capital’s second crypto-focused venture fund.

The French game maker, known for its Assassin’s Creed and Far Cry series, is the primary investor in White Star’s new Digital Asset Fund, which has raised $60 million. The funding marks the “first closure” for a vehicle that White Star plans to manage for $120 million in total. Family offices and affluent individuals are among the new fund’s other investors, and talks with institutional investors concerning a “second close” are ongoing.
White Star, a technology investment business created in 2014 and managing roughly $1 billion in assets, has launched its second dedicated crypto fund. Its inaugural Digital Asset Fund, which raised $50 million to invest in cryptocurrency businesses, launched in 2020 and has since funded 20 companies, including Ledn, Alex, Multis, Paraswap, Exlusible, and Rally.
Ubisoft had already invested in White Star’s first crypto fund, but is now doubling down on the current vehicle as part of a larger strategy to advance its blockchain-based gaming ambitions. The crypto funds managed by White Star invest in both equities and tokens. The second fund will make small investments of $1 million to $7 million at a time, with the goal of supporting 20 to 25 enterprises spanning North America, Europe, and Asia.
Six of the venture capital firm’s 36 workers, spread across New York, Toronto, London, and Paris, are full-time crypto experts.

Read more: Fabric Ventures eyes closing two web3 funds worth USD 245 million

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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