Psalion, a Singapore-based disruptive venture capital fund focused on the Web3 ecosystem, has announced the launch of a $50 million vehicle aimed at the next wave of blockchain adoption.
The vehicle is Psalion’s third and largest venture fund to date. It is structured as a Singapore-domiciled Variable Capital Company (VCC), managed by Conduit Asset Management Pte. Ltd. (CAM), which is licensed and regulated by the Monetary Authority of Singapore (MAS).
The new fund aims to potentially back founders bringing blockchain into the real economy across infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralised finance (DeFi). It will focus on pre-seed and seed stage companies, with an eye on consumer applications where web3 rails are quietly reshaping how people own, trade, and interact with assets.
“Crypto was the thesis. The traditional financial system was the antithesis. What we’re investing in is the synthesis — where web2 businesses run on web3 rails,” said Tim Enneking, Managing Partner of Psalion.
“Some of the best opportunities arise in down markets. Valuations are more reasonable, founders are more focused, and the builders who show up are in it for the long term,” Enneking added.
Founded in 2021, Psalion is a global digital asset investment manager that invests across early-stage venture capital, yield strategies, and digital asset lending.
The investment management firm has two funds, both launched in down markets. Fund I has backed companies such as Binance, Aave, Bitbond, Celo, Chainlink, and Curve, while Fund II has invested in Arcadia, Avnu, Bitwave, Brickken, Genius, and Orbital.
