The Sei Foundation, which is supporting the growth of Layer 1 blockchain Sei, has launched a $65 million venture fund focused on decentralized science (DeSci) as the sector gains momentum. Dubbed “Sapien Capital — Open Science Fund I,” the venture fund will invest exclusively in DeSci startups initially built on the Sei blockchain. The Sei Foundation has committed $65 million in capital to the fund. The company may partner with outside investors or limited partners in the future.
DeSci, or blockchain-based science, is seen as a way to expand access to research funding, enable open data sharing, and ensure that scientists are fairly compensated. Unlike traditional research institutions, where centralized organizations control the distribution of funding, DeSci puts power in the hands of decentralized communities. Using mechanisms such as decentralized autonomous organizations (DAOs), funding decisions are made transparently on-chain, and research data is openly shared.
Notably, the fund is not an ecosystem fund and will not offer grants; instead, it will make venture investments in both tokens and equity in DeSci startups, with check sizes ranging from $100,000 to $2 million. The fund plans to deploy all of its capital over the next three to four years.
Image: freepik
Designed by Freepik
Read the full article here
