Psalion Raises $50 Million Third Fund for Early-Stage Crypto Projects

Singapore digital asset investment manager Psalion said it has closed its third fund at $50 million, its largest fund to date. According to ChainCatcher, the fund is a Singapore-registered variable capital company managed by Conduit Asset Management, which holds a license from the Monetary Authority of Singapore.The fund will target Pre-Seed to seed-stage projects, with a focus on infrastructure, middleware, trade finance, real-world assets, stablecoins, and DeFi. It will also look for consumer-facing Web3 projects that change how assets are owned, traded, and interacted with.Psalion Managing Partner Tim Enneking said the firm is investing in what he described as the synthesis of crypto and traditional finance, with Web2 businesses operating on Web3 rails. He added that its previous two funds were launched during market downturns, which the team viewed as a better entry point because valuations were more reasonable and founders were more focused.