Indian cryptocurrency firm CoinDCX has launched its funding initiative CoinDCX Ventures. The initiative goals to fund early-stage crypto and blockchain startups, bolster India’s digital asset ecosystem and speed up the transformation of India’s digital economic system. This announcement comes quickly after CoinDCX closed its $135 million Series D funding spherical. Additionally, CoinDCX has appointed Rohit Jain as its senior vice-president and head of ventures and investments, to guide CoinDCX Ventures.
CoinDCX continues to chart the way in which ahead and form the Web3 trade at giant, putting India on the map as a worldwide hub for crypto and blockchain innovation, Sumit Gupta, co-founder and CEO, CoinDCX, mentioned. “Having worked with venture capitalists in the space, we understand the value and importance of such support, inspiring our move to contribute to the industry as it cements its position in the future of finance and technology,” he added.
Jain has been an entrepreneur and investor for many of his profession. In his earlier stint, he was a companion at a development stage fund and labored within the digital ecosystem of India as an entrepreneur and operator as effectively. Previously, Rohit has labored in organisations equivalent to Myntra and McKinsey, along with founding startups within the SaaS, media, and B2B ecommerce sectors.
For Jain, CoinDCX Ventures is essential for underpinning CoinDCX’s mission to develop India’s Web3 capabilities. “CoinDCX Ventures will be crucial in supporting our vision of building India’s Web3 ecosystem and the march of emerging technologies in the nation and beyond. I’m looking forward to leading CoinDCX Ventures, bringing my knowledge across various industries and verticals to further CoinDCX’s mandate to cultivate a crypto landscape,” he said.
CoinDCX Ventures permits portfolio firms to start out their journey within the Web3 ecosystem, by providing them the insights, and sources to develop alongside India’s digital asset trade. CoinDCX is reportedly supported by former Facebook co-founder Eduardo Saverin’s B Capital, Coinbase, Polychain, Cadenza, in addition to new traders equivalent to Pantera, Steadview, Kingsway and DraperDragon, amongst others.
Source: www.financialexpress.com”