Polygon founder Sandeep Nailwal raises $50M for Web3 fund

2022.08.25 19:49

Polygon founder Sandeep Nailwal raises $50M for Web3 fund

Cryptocurrency entrepreneur and Polygon founder Sandeep Nailwal has raised $50 million for a new startup fund dedicated to Web3 companies, underscoring venture capital’s growing interest in the blockchain-powered internet.

Nailwal’s venture firm, Symbolic Capital, is backed by cryptocurrency protocols, exchanges, crypto-focused auditing firms and other venture capital investors, the company disclosed Thursday. Symbolic’s fund has already invested in three blockchain-focused gaming startups: BlinkMoon, Planet Mojo and Community Gaming. The initial funding received by these startups was not disclosed.

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