German Picus Capital is announcing a new investment unit with remit to back crypto and Web3 businesses, and it believes it can surprise those foreseeing a "crypto-downfall" with sound scaling up practice in the digital assets space.
The curtain is being lifted on Picus's Web3 and crypto-led division (dubbed Picus.xyz) with a few clients already under its belt, in the form of earlier Picus Capital investments Nefta, which teams up with games studios to integrate Web3 features, and D2X, a pan-European digital derivatives exchange.
Starting from Day One, Picus Capital is zooming in on specific logistical challenges in the sector, for example hiring the right talent, tailoring product design, or planning fundraising/marketing in the decentralised ecosystem.
Picus.xyz will also provide investments in the form of both equity funding and digital tokens, targeting founders with ideas that can abstract Web3's "complexity for consumers and developers."
There's no word on funding raised so it may be safe to assume Picus.xyz will invest straight from Picus's balance sheet. Aside from Nefta and D2X, the Picus Capital portfolio also includes decentralised token ecosystem platform Web3 Builders, as well as fellow crypto/Web3 businesses Spice, Stride, Arda, CypherD and Arch.
Commenting on the launch, Picus Capital founding partner and managing director Robin Godenrath said: "At Picus we are increasingly convinced that web3 will enable the next paradigm shift in the way we live, work and interact. picus.xyz represents a culmination of this belief and our desire to partner with the category-defining leaders of the open web era.
"We look forward to backing the next-generation of web3 founders with the full resources of the Picus franchise.”