BlockBeats News, July 28th, Singapore-based digital asset investment firm Psalion announced the completion of its largest-ever venture capital fundraise to date, launching its third fund with a size of $50 million, aimed at investing in the next stage of blockchain application development.

The fund adopts the Singapore Variable Capital Company (VCC) structure, managed by Conduit Asset Management Pte. Ltd. (CAM), with a focus on early-stage projects that bring blockchain technology into the real-world economy, particularly targeting infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralized finance (DeFi).

Psalion stated that the fund will primarily invest in pre-seed and seed-stage startups, with a focus on the implementation of Web3 infrastructure in consumer-facing applications, including changes in asset ownership, transaction methods, and user interaction models.

Psalion Managing Partner Tim Enneking stated that in the past, the crypto market represented an investment thesis distinct from the traditional financial system, but today the team is focused on their convergence, allowing Web2 enterprises to operate on top of Web3 infrastructure.