The crypto investment fund FD7 Ventures recently made an announcement regarding the opening of their office in Bangalore, India. The new office location would be serving as a home to a micro-fund of FD7 Ventures focussed on $250 million providing attention to investments in groups. However, those groups building out projects for Polkadot and Cardano ecosystems will be the focus.
FD7 Ventures to Launch $250 Million Micro-Fund in India
The recent move is a strategic part of the crypto investment fund’s street map to building its presence in the silicon valley of India, Bangalore. Neeraj Singh, a local partner, is going to lead the Bangalore-based fund.
FD7 Ventures will be getting regional advantages that will be different from the crypto and blockchain technology scenes in the United States. The university-level programs of India, such as IIT, will be offering accessibility to a hotbed for leading tech talent.
Prakash Chand, the Global Managing Director at FD7 Ventures, 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.”
In addition to this, he revealed:
“With my last company, Ask The Doctor, my team consisted of many IIT grads and I saw first-hand the amazing quality of programming from these engineers. Positioning our new location where we have in Bangalore gives us a home-field advantage to tap into some of the world’s best future talent in blockchain and cryptocurrency development.”
Latest Investments in Polkadot and Cardano Ecosystem-Based Companies
Chand embracing talents coming out of the Indian Institute of Technology is backed by a long list of notable graduates from this institution.
The list includes names like Sundar Pichai, the CEO of Alphabet.Inc and its subsidiary, Google, Co-Founder of Sun Microsystems, Vinod Khosla, Founder and CEO of Fairfax Financial Holdings, Prem Watsa, and even the Former President of SoftBank, Nikesh Arora.
Along with that, the firm noticed the bullish trend on NFT projects and will now be seeking investment opportunities. Prakash Chand continued his statement and said:
“Just look at Bondly, which is built on Polkadot. It literally blew up overnight when YouTuber Logan Paul sold more than 5 million dollars’ worth of NFTs in just 24 hours. This is not just a space to watch but one which is proving its investment-worthiness with almost daily records being set with increased use cases for non-fungible tokens that support cryptographic art, collectibles, gaming and more.”