Crypto investment firm FD7 Ventures has announced the launch of India's first office in Bengaluru and $ 250 million worth of micro-funds as investments in altcoin projects such as Polkadot (DOT) and Cardano (ADA).
Located in Dubai, FD7 aims to invest $ 1-5 million in 50 companies each year with the latest funds.
About 30% of Polkadot and Cardano ecosystem-based companies will receive secondary investments worth between $ 5-20 million, depending on metric developments.
FD7 Ventures global managing director Prakash Chand described Bengaluru as a strategic location as the Indian Institute of Technology (IIT) has produced many talented graduates in engineering and has been involved in university-level Polkadot and Cardano projects.
Last week, FD7 also revealed their plans to sell Bitcoin holdings worth $ 750 over the next 30 days with the aim of further increasing the company's position in Cardano and Polkadot.
The move is the best opportunity to meet the needs of its investors who want to diversify their portfolio in the cryptocurrency sector.
Apart from Bengaluru, FD7 also has business offices in Toronto and Dubai where it has invested in every level of crypto and blockchain projects.
Meanwhile last month, Twitter CEO Jack Dorsey announced his plans to provide 500 BTC to new funds in support of Bitcoin development in India and Africa.
