Blockchain focused venture firm Woodstock in plans to raise $100M from US investors

The firm plans to hold a final close for the new funds at the end of March, market raises the first time the asset manager has courted US investors. 

Blockchain focused venture firm Woodstock in plans to raise $100M from US investors
Global Web3 fund with deep roots in India taps US investors for a second vehicle. 

A blockchain focuses venture capital firm with deep roots in India, is tapping US investors for the first time as it aims to raise $100 million for its latest fund, The firm aim to hold a final close for the vehicle, Woodstock Capital Fund at the end of March, one of the people said. The funds have already held a first close with limited partners, including a number of family offices. 

The funds feature feeder vehicles that accept a capital contribution from the US and non-US investors alike. That's a departure from the first fund, Woodstock Capital Fund which focused on seed-stage investment opportunities and dealt exclusively with investors outside the US. 

The firm founder, which has outposts in India, the United Arab Emirates, and the US, sees a natural bridge between Web3 investment opportunities in Asia and the Middle East and a growing appetite from the US to supply risk capital for such plays. 
 
Woodstock includes Web3 projects like Covalent, Marlink, and Polygon, Plus NFT business Terra Virtua and MetaSky as well as Defi startups ParaSwap and UniLend. 
 
Woodstock purchased on Adam Mastrell, a 10 year IBM veteran who helped build out the technology giant's blockchain services, a partner focused on business development in the US, where he plays a key role in capital raising for the latest fund.
 
The first fund which predominantly backed early-stage companies and protocols, Woodstock Capital Fund will favor a middle east market, growth equity strategy. The plan is to back the treasuries of blockchain protocols as an investor and otherwise snap up tokens on the open market and from third parties. 
 
The vehicle targets promising Series investment opportunities as the team did in its first fund look to engage in staking and assist protocols with infrastructure development and governance. 
 
The firm source said that has outlined to limited partners three crucial growth areas for crypto: financialization, or tokenizing of real-world assets. virtualization, a Web3 driven belief that the virtual world will increasingly mesh with reality and convergence of technologies and cultures. 
 
The fund aims to write tickets of $1 million to $5 million. it imposes a five-year lockup on investor capital, with two one-year extension options at the discretion of limited partners. 
 
Woodstock, led by founding partners Pranav Sharma and Himanshu Yadav, now has nine full-time employees, The firm has mulled opening an office in Singapore as Web3 development grows in the country.