Sei Foundation has unveiled a $65 million venture fund aimed at investments in the decentralized science ecosystem.
In an announcement first published by The Block, the Sei Foundation said its “Sapien Capital – Open Science Fund I” will look to invest in DeSci projects building on the layer 1 blockchain Sei (SEI).
With the crypto and blockchain space transforming science funding, and DeSci research gaining traction, the $65 million fund aims to redefine the sector. According to the Sei Foundation, Sapien Capital will not only change how science is funded but also how it is shared and validated.
According to the announcement, the new fund is not designed for the Sei ecosystem and, therefore, does not include grants.
Instead, it is targeted at venture investments in DeSci startups, including those focused on gamified drug discovery and wearables. The fund will invest in both project tokens and equity, with check sizes ranging from $100,000 to $2 million.
Sapien Capital plans to fully deploy its capital within the next three to four years, Sei Foundation’s head of business development and investments, Justin Barlow, said.
Interest in DeSci has VC investment from some of the leading venture funds in the space. This includes a16z Crypto’s investment in AminoChain last September and YZi Labs, previously Binance Labs’ bet on BIO Protocol in November.
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