Psalion kicked off its largest venture fund yet, announcing a $50 million pool targeting pre-seed and seed-stage blockchain ventures. The fund focuses on infrastructure, stablecoins, real-world assets, DeFi, and select consumer applications, aiming to bridge traditional businesses with blockchain technology.
Fund structure and investor restrictions
Set up in Singapore under the Variable Capital Company (VCC) framework, Psalion’s Fund III is managed by Conduit Asset Management, which holds a Capital Markets Services licence from the Monetary Authority of Singapore (MAS). However, the fund is classified as a restricted scheme under MAS rules, meaning it’s only offered to accredited and institutional investors within Singapore. Retail investors cannot participate, as it lacks MAS endorsement for public offerings.
First investment and strategic direction
Within an hour of the fund's announcement, Psalion disclosed its first transaction: leading a $4 million funding round in Beezie. Beezie operates a commerce platform connecting physical collectibles with on-chain digital twins, highlighting the fund’s interest in innovative use cases combining physical and digital assets. Managing Partner Tim Enneking explained the strategy focuses on supporting founders integrating conventional web2 enterprises into web3 infrastructure, though details like target check sizes or investment timelines remain undisclosed.
Psalion’s existing portfolio includes notable projects like Solana, Aave, Sushi, and Polkadot, emphasizing its strong foothold in blockchain ecosystems. The firm also runs digital asset yield and lending programs aimed at professional investors.
