CoinSwitch, India’s largest crypto investing app, announced Tuesday the launch of Web3 Discovery Fund, the company’s corporate venture capital initiative, which will invest in and incubate early-stage startups building blockchain solutions for the rapidly evolving Web3 landscape.

The Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF partners), and incubation partner Buidlers Tribe, CoinSwitch said in a statement.

CoinSwitch Web3 Discovery Fund will also be an AWS Activate Provider. The fund’s early-stage portfolio startups can apply for AWS Activate Portfolio and receive AWS credits, technical support, training, resources, and more to accelerate their growth.

Further, the portfolio startups will also benefit from ready access to CoinSwitch’s in-house capabilities, ecosystem network, and 18 million-strong user base, accelerating their product life-cycle strategy.

“The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realize this vision of #MadeinIndia Web3, we have to identify and enable entrepreneurs and early-stage startups leveraging the potential of Crypto to solve real-world problems unique to India. That’s the raison d’être of the Web3 Discovery Fund,

“I’m absolutely thrilled to work with Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, Elevation Capital, and Buidlers Tribe toward this mission,” said Ashish Singhal, Co-Founder and Chief Executive Officer of CoinSwitch.

According to the statement, Web3 Discovery Fund will be an active investor and provide strategic support for the rapid growth of the portfolio startups.

Founded in 2017 by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari, and backed by blue chip investors including Andreessen Horowitz (a16z), Tiger Global, Sequoia Capital India, Ribbit Capital, Paradigm, and Coinbase Ventures, CoinSwitch is evolving into a wealth-tech destination for every Indian. The firm is creating an ecosystem that simplifies crypto and is trusted by over 18 million registered users.

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