An early crypto-focused investor on Web3, Amesten Capital has raised $ 9 million in funding from family houses in the Middle East and Europe for the fresh capital.
The new fund will stake bets in the decentralized (DeFi) finance, infrastructure, and gaming space and will cut $200,000-$500,000 in checks.
The Mumbai-based Amesten Capital was founded in 2018by Sachin Jain, It is a seed investment fund that focuses on early-stage startups in various verticals.
Sachin has invested in over 18 startups in the past including Delta Exchange, Unmarshal, EasyFi, Nord Finance, and Kalamint. Sachin’s initial investments saw healthy exits, reaching an internal rate of 480%.
“Web3 is a trending idea right now and there can be a lot of hype. But there are a handful of products which are actually doing work on a good level that will make a difference tomorrow. Most of the crypto ecosystem, apart from a few Non-Fungible Token (NFT) marketplaces and crypto exchanges, are still in its infancy in terms of deal making”, said, Sachin Jain, CEO and co-founder of Amesten.
“Gaming is a very important area for us. There are a lot of pre-product-market fit startups in the ecosystem that is more of an idea at this point; most of them are still at the early stages of attracting the first set of users”, he added.
Many funds are investing in the Web3 ecosystem in India in the initial phase.
In notable early-stage deals, Ethereum Push Notification Service (EPNS) has raised $10.1 million in this month and Stader Labs, a cryptocurrency staking management platform, has raised $12.5 million funding in January.
About Amesten Capital
Amesten Capital is a seed investment fund focused on early-stage blockchain startups.
