![]() That background is part of why Nailwal thinks Symbolic is especially well-positioned to assist emerging market founders. He added that he took a similar approach in growing Polygon, where he said he would test out one new technology at a time and wait until it had acquired a certain number of users before experimenting with the next idea. “Because they are all pushed against the wall for their survival, they need to build something that will generate some revenue, and they can survive on that,” Nailwal said. He views founders in emerging markets as generally more pragmatic because of the constraints they face compared to their better-resourced counterparts in Silicon Valley. Wang, meanwhile, is deeply familiar with the web3 ecosystem in China and Southeast Asia, giving the pair a wide view of countries across the world, Nailwal added. But being from India, like, technically, I would be an angel investor or an advisor to 95% of all the good projects that you would see coming out of the Indian subcontinent - they would come to me some way or the other, for help or guidance,” Nailwal said. “It’s not closed for anybody who’s building in Silicon Valley, of course not. Through this new venture fund, Nailwal says he aims to allocate 80 to 90% of the capital to founders who, like him, hail from emerging markets. The fund has already made ~15 investments, including in web3 gaming studio BlinkMoon, Polygon-based metaverse Planet Mojo and esports platform Community Gaming, according to Nailwal.Īs an Indian founder, Nailwal has often sought to support his home country - he made headlines last year when Vitalik Buterin donated $1 billion worth of crypto to an Indian COVID-19 relief fund he had arranged. They always use it via some app,” Nailwal told TechCrunch. It’s not like I’m going to build a blockchain, and people will come and use the blockchain - nobody uses blockchain directly. “My core mission is to bring mass adoption to web3, and that mass adoption is only going to happen via apps. Symbolic plans to primarily back companies building consumer-facing decentralized apps (dApps), Nailwal said, a move that seems aligned with Polygon’s own goal to speed up web3 app development. Nailwal, alongside Cere co-founder Kenzi Wang, has raised $50 million from investors including other venture firms, crypto exchanges, family offices and institutions, though they did not share specific names. ![]() Now, the protocol’s co-founder Sandeep Nailwal is launching another project, he told TechCrunch exclusively - this time, in the form of Symbolic Capital, a venture capital fund built by and for web3 founders. Ethereum layer-two scaling platform Polygon raised $450 million earlier this year in its first major financing round.
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