CoinSwitch Kuber is launching the Web3 Discovery Fund to invest in 100 early-stage startups in the web3 space.
Much like the funds that give access to startup companies, CoinSwitch will offer investments to their portfolio company from people such as Tiger Global, Sequoia Capital, and Ribbit Capital.
CoinSwitch will give startups access to prominent investors, as well as technical training and other resources in order to grow their startups. CoinSwitch has a 10 million dollar fund that, in addition to grants, provides investments.
CEO Ashish Singhal says India will be the launching pad for population-scale web3 projects. The venture programme is the result of a belief that India will be the launchpad for population-scale web3 projects. To realise this vision, we have to identify and enable entrepreneurs and early-stage startups to leverage the potential of crypto to solve real-world problems unique to India.
CoinSwitch was founded in 2017, and its funding rounds led to a valuation of $1.9 billion last year. Silicon Valley venture capital company, Andreessen Horowitz, was one of the investors at $260 million.
