Developers in India building on Cardano and Polkadot can get $ 250 million from this Dubai fund.
From FD7, Cardano and Polkadot fund
The Dubai-based FD7 Ventures is launching a new $ 250 million fund in India, Bengaluru, which will invest in developer teams built on Polkadot and Cardano, according to a press release dated Feb. 28.
The company plans to split it into 50 different projects each year for up to $ 5 million. The most successful will be able to earn up to $ 20 million alongside the initial investment.
Bengaluru is home to the Indian Institutes of Technology (IIT) with notable alumni such as Alphabet CEO Sundar Pichai and Fairfax Financial CEO Prem Watsa. Prakash Chand, managing partner of the fund, says IIT is developing projects supported by Cardano and Polkadot:
The Indian Institute of Technology (IIT) brings out top talent who are currently working on university-level Polkadot and Cardano projects. ”
FD7 Ventures also wants to take advantage of two of the best blockchains to create a market for tokens (NFTs) that are unmatched in India. Chand says he will involve cricket players as well as Bollywood celebrities.
FD7 is excited to have plans to work with Bollywood celebrities and star Cricket players on NFT projects in the near future.
Last week, FD7 announced that it will liquidate $ 750 million of Bitcoin to put all that money into Cardano and Polkadot. The BTC purchase was announced again in mid-February.