CoinDCX launches CoinDCX Ventures to invest in blockchain and crypto startups

• ByStartupStory     |    May 11, 2022

CoinDCX has launched its new investment arm, CoinDCX Venture to back the early-stage crypto as well as blockchain startups in India. Through this venture, it is planning to deploy Rs 100 crore in accelerating the country’s digital assets. By far, the company has approximately invested about 10-15% of tier funds in over half a dozen startups and is aiming to distribute the rest portions over a period of 12 months, reaching a target of 40-50 startups. CoinDCX Ventures has already done various investments in the space involving wallet solutions, cross-chain bridge protocol, Web3 notification protocol and Web3 social engine along with distributed storage and computing protocol. 

CoinDCX was launched in 2018 and presently is among India’s largest and most valuable crypto companies with over 12.5 million users on its platform. This investment is aiming to fund crypto ventures in several sectors with a focused portfolio approach at an early stage. It is also concentrating on key sectors like investing in infrastructures, investing products (DeFi of CeFi), infra layer development and also the development of tools with Web3 applications.

The company also said that this investment will also enhance growth strategies and distribution which would help build communities and connect with key influencers with the best available HR practices. Sumit Gupta, the co-founder and CEO of CoinDCX said that this is a huge leap for the company as it continues to way forward and shape the Web3 industry, putting India on the map as the global hub for crypto and blockchain advancements.

The exchange has also raised $135 million from its Series D funding round from investors like Eduardo Saverin’s B Capital, who was a former co-founder of Facebook and also Coinbase, Polychain, Cadenza, and Pantera were among others. CoinDCX has recently appointed Rohit Jain as the Senior Vice President and Head of Ventures and investments to lead further the CoinDCX Ventures.

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