Polygon Co-Founder Launches $50M Fund to Invest in Web3 Projects

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Polygon co-founder Sandeep Nailwal has recently launched Symbolic Capital, a $50 million venture capital fund focused on supporting Web3 startups in emerging markets.

Nailwal’s partner in the project was Cere Network founder Kenzi Wang. Their joint company raised funds for the fund from other venture capitalists, crypto exchanges, family offices and institutions, whom they declined to name.

According to Nailwal, the structure intends to primarily support the creators of dApps. He has said:

“My primary mission is to enable mass adoption of Web3, and that will happen through applications. I’m not going to create a blockchain to be used. People don’t do it directly, but always through some kind of dapp.”