Psalion launches $50M third fund to back early-stage real-world blockchain adoption

Psalion has launched its third and largest venture fund, a $50 million vehicle targeting the next wave of blockchain adoption across real-world use cases.

The fund is structured as a Singapore-domiciled Variable Capital Company and is managed by Conduit Asset Management Pte. Ltd., which is licensed and regulated by the Monetary Authority of Singapore.

Psalion plans to invest the capital into founders building infrastructure, middleware, trade finance, real-world assets, stablecoins, and DeFi, with a focus on pre-seed and seed stage companies. The firm is also watching consumer applications where web3 rails underpin ownership, trading, and interaction with assets.

“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,” said Tim Enneking, Managing Partner of Psalion.

Enneking noted that Psalion’s prior two funds both launched in down markets and that the firm is intentionally repeating that approach with the new vehicle. “Some of the best opportunities arise in down markets. Valuations are more reasonable, founders are more focused, and the builders who show up are in it for the long term,” he added.