{"id":487684,"date":"2022-08-25T17:34:00","date_gmt":"2022-08-25T14:34:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/polygon-founder-sandeep-nailwal-raises-50m-for-web3-fund\/"},"modified":"2022-08-25T17:34:00","modified_gmt":"2022-08-25T14:34:00","slug":"polygon-founder-sandeep-nailwal-raises-50m-for-web3-fund","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/polygon-founder-sandeep-nailwal-raises-50m-for-web3-fund\/","title":{"rendered":"# Polygon founder Sandeep Nailwal raises $50M for Web3 fund"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fccb4870ee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fccb4870ee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/polygon-founder-sandeep-nailwal-raises-50m-for-web3-fund\/#%E2%80%9D_Polygon_founder_Sandeep_Nailwal_raises_50M_for_Web3_fund_%E2%80%9C\" >&#8221; Polygon founder Sandeep Nailwal raises $50M for Web3 fund  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Polygon_founder_Sandeep_Nailwal_raises_50M_for_Web3_fund_%E2%80%9C\"><\/span>&#8221; Polygon founder Sandeep Nailwal raises $50M for Web3 fund  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvZjVlYjQzN2UtMzNjZi00NDE1LWFlNTMtMTliZjJmOGU5MjM1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Cryptocurrency entrepreneur and Polygon founder Sandeep Nailwal has raised $50 million for a new startup fund dedicated to Web3 companies, underscoring venture capital\u2019s growing interest in the blockchain-powered internet.\u00a0<\/p>\n<p>Nailwal\u2019s venture firm, Symbolic Capital, is backed by cryptocurrency protocols, exchanges, crypto-focused auditing firms and other venture capital investors, the company disclosed Thursday. Symbolic\u2019s fund has already invested in three blockchain-focused gaming startups: BlinkMoon, Planet Mojo and Community Gaming. The initial funding received by these startups was not disclosed. <\/p>\n<p>In perhaps a new take on venture funding, Nailwal said his company is focused on supporting project founders from emerging markets. \u201cStarting Polygon in India, we struggled to get connected to VCs that believed in our vision and abilities as founders,\u201d he said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The rise of Web3 has resulted in the need for decentralized storage solutions that allow users to archive, retrieve and maintain their own data. <\/p>\n<p>Will they be able to break centralized web service providers&#8217; stranglehold on the market? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uJOthHq8lI\">https:\/\/t.co\/uJOthHq8lI<\/a><\/p>\n<p>\u2014 Cointelegraph (@Cointelegraph) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph\/status\/1552704196289482752?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nNailwal co-founded Polygon in 2017 in India before relocating to Dubai two years later. In an interview with Bloomberg, Nailwal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-11\/india-faces-crazy-crypto-brain-drain-polygon-co-founder-says\">said<\/a> he left his home country due to a lack of regulatory clarity around crypto. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>VC Roundup: Lightning Network payment rail, DeFi trading platform and blockchain security firm raise millions<\/em><\/strong><\/p>\n<p>Like other crypto-focused VCs, Symbolic Capital is focused heavily on Web3 projects, or solutions that will advance the decentralized internet. As reported by Cointelegraph, two Web3-focused funds were announced earlier this month \u2014 CoinFund launched a $300 million venture and Shima Capital debuted with a $200 million commitment.<\/p>\n<p>According to Cointelegraph Research, Web3 projects represented the lion\u2019s share of crypto venture funding in the second quarter, accounting for 42% of individual deals. Venture funds invested a whopping $14.67 billion into crypto startups between April and June, matching their allotment in the first quarter.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/polygon-founder-sandeep-nailwal-launches-50m-web3-fund\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Polygon founder Sandeep Nailwal raises $50M for Web3 fund &#8220; Cryptocurrency entrepreneur and Polygon founder Sandeep Nailwal has raised $50 million for a new startup fund dedicated to Web3 companies, underscoring venture capital\u2019s growing interest in the blockchain-powered internet.\u00a0 Nailwal\u2019s venture firm, Symbolic Capital, is backed by cryptocurrency protocols, exchanges, crypto-focused auditing firms and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":487685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvZjVlYjQzN2UtMzNjZi00NDE1LWFlNTMtMTliZjJmOGU5MjM1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75719,93542,117,71745],"class_list":["post-487684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-funding","tag-web3","tag-business","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/487684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=487684"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/487684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/487685"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=487684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=487684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=487684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}