Canadian venture capital firm Round13 has launched a dedicated fund to invest in the emerging blockchain and digital asset markets.
The new crypto native fund has raised US$70 million of an initial target of US$100 million.
The fund is partnered with Satstreet, a growing Canadian digital investment firm.
Round13’s fund has already invested in several projects to date, alongside other global investors in the space.
Investments have been made in UK-based Improbable Worlds, US-based Trust Machines and Ibex, as well as Canadian-based Chainsafe and Red Jar Digital Infrastructure.
The new Round13’s managing partner Satraj Bambra is a software engineer who was most recently CEO of BlockEQ, after co-founding the company in 2018.
Accompanying managing partner Khaled Verjee is a lawyer and investment banker by trade, and has been an early investor and advisor to several blockchain startups since 2015.
Commenting on the recent fund launch, Bambra says: “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.”
Verjee adds: “It is very encouraging that a pension fund and traditionally conservative family offices are actively investing in our fund and looking to capitalise on the tremendous opportunities in the market.
“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.”
