Psalion launches $50M fund to back blockchain startups

Psalion, a Singapore-based digital asset firm, launched a $50 million early-stage venture fund, VC Fund III, structured as a Singapore-domiciled Variable Capital Company and managed by Conduit Asset Management Pte. Ltd., a Monetary Authority of Singapore-licensed entity.

The fund will target pre-seed and seed-stage founders building blockchain infrastructure, trade finance and real-world asset platforms, stablecoin systems, decentralized finance applications and consumer-facing Web3 products where blockchain technology powers ownership and transactions.

Managing Partner Tim Enneking described the firm’s approach as a synthesis between traditional finance and crypto: “Crypto was the thesis. The traditional financial system was the antithesis. What we’re investing in is the synthesis — where web2 businesses run on web3 rails.” He added that the firm has preferred to launch funds in down markets because valuations are more reasonable and founders who remain active tend to focus on long-term product development.

Psalion disclosed its first investment from VC Fund III by leading a $4 million round for Beezie, a commerce platform that combines ownership, discovery and liquidity. Beezie reported more than $170 million in gross merchandise value since launch and surpassed $85 million in year-to-date revenue, expanding more than 50-fold in nine months. The platform has drawn over 30,000 active users since January 2026.

The round followed a community offering on Echo in late June that initially targeted $250,000, sold out in 10 minutes and was capped at $1 million within 24 hours. Beezie plans to use the new capital to expand inventory and scale its commerce platform globally, with a focus on collectibles, luxury goods and entertainment.

Beezie founder and CEO Andrea Miele said the company aims to increase consumer engagement with each transaction: “At its core, Beezie is about making consumers feel something every time they transact.” She welcomed Psalion’s backing as the platform scales across new categories and geographies.

Psalion described VC Fund III as its largest venture vehicle to date. The firm said it will back projects that integrate Web3 quietly into user experiences and support tokenized assets and payment rails. The fund’s Singapore domicile and management by a MAS-licensed manager place it within the city-state’s regulatory framework for financial and blockchain activity.