Asset management firms Alpha Innovations and Arcanum Capital have floated a new fund focused on providing seed and Series A financing to blockchain technology companies in emerging markets with a special focus on India.
The new vehicle, christened Arcanum Emerging Technologies Fund I, is floated on the Alpha Innovations Laureates fund platform.
“We see a tremendous untapped opportunity to invest in early-stage blockchain companies in emerging markets, where the talent pool is incredibly deep and highly skilled,” said Arcanum founding member James McDowall.
Arcanum executive Karthik Bupathi said India is a particular focus for the firm given its deep relationships within the country’s blockchain ecosystem.
“Our on-the-ground presence and strong reputation allow us access to quality deal flow that is challenging for other VCs to attain without the robust local network our team members have built over the last several years,” he added.
Arcanum Capital is a US-based investment advisor focused on emerging market technology startups.
The new fund is anticipated to be the first of a series of funds launched by Arcanum. It is aiming for an initial close in late February.
Alpha Innovations was founded in 2018 by team members who have previously worked at Point72, Balyasny Asset Management, Goldman Sachs and Morgan Stanley. It is also the parent company of AI Global Investors (USA) LLC, a US-based asset management platform.