Sei Foundation has unveiled a $65 million venture fund aimed at investments in the decentralized science ecosystem.
The Sei Foundation has announced that its “Sapien Capital – Open Science Fund I” will be looking to invest in DeSci initiatives that are building on the layer 1 blockchain Sei.
The objective of the $65 million fund is to reimagine the sector in light of the fact that the cryptocurrency and blockchain ecosystem is reshaping the funding of scientific research and that it is gaining popularity.
The Sei Foundation asserts that Sapien Capital will not only alter the manner in which scientific research is supported, but it will also alter the manner in which it is validated and disseminated.
It has been stated in the release that the new fund is not intended for the Sei ecosystem, and as a result, it does not offer grants. Instead, it is geared toward venture capital investments in DeSci firms, such as those that are centered on gamified drug development and wearables.
Additionally, the fund will invest in stock as well as project tokens, with check amounts ranging from one hundred thousand dollars to two million dollars.
According to Justin Barlow, who is the head of business development and investments at the Sei Foundation, Sapien resources intends to fully deploy its resources within the next three to four years.
Venture capitalists from some of the most successful venture capital firms in the industry have shown interest in DeSci. This includes the investment that a16z Crypto made in AminoChain in September of last year, as well as the bet that YZi Labs, formerly known as Binance Labs, made on BIO Protocol in November.
