Ubisoft backs White Star Capital’s $120 million crypto fund

Ubisoft backs White Star Capital’s $120 million crypto fund
фото показано с : invezz.com

2022-4-12 21:20

Ubisoft, the France-based gaming giant that gave the world Assassin’s Creed and Far Cry, has invested in White Star Capital’s second Digital Asset Fund.

White Star Capital, which raised $50 million in the first installment of a similar fund in 2020, wants to use the new fund to support metaverse-focused projects.

White Star expects to raise $120 million for its DAF II, with Ubisoft as the anchor investor, the New York-based company said in an announcement. Per the report, the second fund has so far secured $60 million from investors.

The Digital Asset Fund is a vehicle through which White Star Capital’s team finds strategic investment opportunities in the crypto and blockchain sector. Using a “research-driven approach”, the team identifies which projects to invest in, including in seed and token rounds.

White Star plans to invest $1million to $7 million in each project using the new fund. In total, the company expects to back 20-25 crypto startups spread across North America, Europe and Asia. These will add to the 20 companies supported so far, including ALEX, Exclusible, Haruko, Ledn, and Paraswap.

The post Ubisoft backs White Star Capital’s $120 million crypto fund appeared first on Invezz.

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