Key Takeaways
- • Psalion, a Singapore-based Web3 venture capital firm, launched a $50 million fund—its third and largest vehicle to date—structured as a Singapore-domiciled Variable Capital Company (VCC) and managed by Conduit Asset Management (licensed by the Monetary Authority of Singapore).
- • The fund targets pre-seed and seed-stage blockchain companies across infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralized finance (DeFi), with emphasis on "web3 rails" integrating blockchain into mainstream business operations.
- • Psalion's previous two funds, launched during market downturns, backed successful portfolio companies including Binance, Aave, Chainlink, Curve, Arcadia, and Avnu, demonstrating the firm's track record in early-stage crypto venture investing.
- • Managing Partner Tim Enneking positioned the fund thesis as the "synthesis" between traditional finance and crypto, targeting opportunities where "crypto was the thesis, traditional financial system was the antithesis," with focus on consumer applications and down-market valuations favoring long-term builders.
- • Founded in 2021, Psalion operates as a global digital asset investment manager across early-stage venture capital, yield strategies, and digital asset lending, capitalizing on founder focus and reasonable valuations during market cycles.
Summary
Psalion, a Singapore-headquartered venture capital firm specializing in Web3 and blockchain ecosystems, announced the launch of a $50 million venture fund designed to target the next wave of blockchain adoption across enterprise and consumer applications. The new vehicle represents Psalion's third fund and its largest capital raise to date, structured as a Singapore-domiciled Variable Capital Company (VCC) and managed by Conduit Asset Management Pte. Ltd., which holds a license from the Monetary Authority of Singapore (MAS).
The fund's investment thesis focuses on pre-seed and seed-stage companies operating at the intersection of blockchain technology and real-world business applications. Target sectors include infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralized finance (DeFi). Psalion emphasizes opportunities where established web2 businesses integrate blockchain infrastructure—what the firm describes as "web3 rails"—to reshape how participants own, trade, and interact with assets, particularly in consumer-facing applications.
Tim Enneking, Managing Partner of Psalion, framed the investment strategy as bridging crypto innovation and traditional finance. "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," Enneking stated. He further noted that down-market conditions typically present optimal opportunities, as valuations normalize, founders demonstrate stronger focus and conviction, and the capital attracts builders committed to long-term value creation rather than short-term speculation.
Psalion's track record validates its early-stage investment approach. Founded in 2021, the firm's first two funds—both launched during market downturns—generated meaningful outcomes. Fund I backed high-profile portfolio companies including Binance, Aave, Chainlink, Curve, Bitbond, and Celo, while Fund II invested in Arcadia, Avnu, Bitwave, Brickken, Genius, and Orbital. The firm operates as a diversified digital asset investment manager spanning early-stage venture capital, yield strategies, and digital asset lending across global markets.
The fund's investment thesis focuses on pre-seed and seed-stage companies operating at the intersection of blockchain technology and real-world business applications. Target sectors include infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralized finance (DeFi). Psalion emphasizes opportunities where established web2 businesses integrate blockchain infrastructure—what the firm describes as "web3 rails"—to reshape how participants own, trade, and interact with assets, particularly in consumer-facing applications.
Tim Enneking, Managing Partner of Psalion, framed the investment strategy as bridging crypto innovation and traditional finance. "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," Enneking stated. He further noted that down-market conditions typically present optimal opportunities, as valuations normalize, founders demonstrate stronger focus and conviction, and the capital attracts builders committed to long-term value creation rather than short-term speculation.
Psalion's track record validates its early-stage investment approach. Founded in 2021, the firm's first two funds—both launched during market downturns—generated meaningful outcomes. Fund I backed high-profile portfolio companies including Binance, Aave, Chainlink, Curve, Bitbond, and Celo, while Fund II invested in Arcadia, Avnu, Bitwave, Brickken, Genius, and Orbital. The firm operates as a diversified digital asset investment manager spanning early-stage venture capital, yield strategies, and digital asset lending across global markets.
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