Sei Foundation launches $65m DeSci venture fund

The SEI Foundation has unveiled a venture capital fund of $ 65 million intended for investments in the decentralized scientific ecosystem.

In a announcement Published for the first time by The Block, the SEI Foundation said that “Sapien Capital – Open Science Fund I” would seek to invest in DESCI projects that are built on the SEI blockchain of layer 1 (BE).

With the Crypto space and the blockchain transforming scientific funding and research by DESCI winning the field, the fund of $ 65 million aims to redefine the sector. According to the SEI Foundation, Sapien Capital will not only change the way in which science is funded, but also the way it is shared and validated.

According to the announcement, the new fund is not designed for the SEI ecosystem and, therefore, does not include subsidies.

Instead, it is intended for venture capital investments in DESCI startups, including those focused on the discovery of gamified drugs and portable devices. 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 in the next three to four years, said Justin Barlow, head of development and investment in the SEI Foundation.

The interest in DESCI has VC investments of some of the main venture capital funds of space. This includes A16z Crypto Investment in Aminochain Last September and Yzi Labs, previously Binance Labs’ Bet on the organic protocol in November.