Psalion announced its third and largest venture fund on July 27, introducing a $50 million Singapore vehicle for pre-seed and seed-stage blockchain companies.
Summary
- Psalion launched a $50 million Fund III targeting seed-stage blockchain infrastructure, stablecoins, RWA and DeFi.
- MAS records list Fund III as restricted, limiting Singapore offers to accredited and institutional investors.
- Fund III led Beezie’s $4 million round, its first disclosed investment after the launch announcement.
The firm said Fund III will target infrastructure, middleware, trade finance, real-world assets, stablecoins, decentralised finance and selected consumer applications.
The announcement was followed one hour later by Fund III’s first publicly disclosed deal. Psalion said it led a $4 million funding round for Beezie, a commerce platform that links physical collectibles with on-chain digital twins.
Psalion Fund III targets six blockchain sectors
Psalion said the fund will back founders connecting established businesses with blockchain rails. Managing Partner Tim Enneking described the strategy as investing where web2 businesses operate on web3 infrastructure. The firm did not publish target cheque sizes, its planned number of investments or a deployment deadline.
The release called the vehicle a $50 million fund, but it did not identify limited partners, committed capital or a first-close amount. Its headline said Psalion had “closed” the fund, while the body described the event as a launch. The available documents therefore support describing $50 million as the announced fund size, rather than independently confirmed capital already deployed.
Psalion’s website says its existing venture portfolio includes projects such as Solana, Aave, Sushi, Polkadot, Arkis, Hinkal and stablecoin protocol Usual. The firm also operates digital-asset yield and lending strategies for professional investors.
Singapore records limit the fund to eligible investors
Fund III uses Singapore’s Variable Capital Company structure and is managed by Conduit Asset Management. The Monetary Authority of Singapore’s directory confirms that Conduit holds a Capital Markets Services licence for fund management.
MAS’s CISNet database lists Psalion VC Fund III VCC as a restricted scheme. That listing means MAS has been informed of an intended offer to accredited and other eligible investors. It does not authorise the fund for non-accredited retail investors and does not represent an MAS endorsement.
Singapore’s Accounting and Corporate Regulatory Authority describes a VCC as a corporate structure created for investment funds. A VCC can issue and redeem shares without shareholder approval and can operate as one fund or as an umbrella containing separate sub-funds.
Psalion said Fund III led Beezie’s $4 million round. Beezie allows users to obtain physical collectibles through a gamified system, then keep an item or sell it back under the platform’s terms. Each physical asset receives an on-chain digital twin, according to the company.
Moreover, Beezie reported more than $170 million in gross merchandise value, over $85 million in year-to-date revenue and more than 30,000 active users since January 2026. The press release presented those figures as company data and did not include audited financial statements.
The capital is intended to support inventory purchases, geographic growth and expansion across collectibles, luxury and entertainment. Psalion did not disclose its individual contribution, valuation terms or ownership stake in Beezie.
The investment fits Psalion’s stated focus on consumer products where blockchain infrastructure operates behind the interface. It also gives Fund III a disclosed portfolio company immediately after its launch.
Crypto venture capital remains selective
The fund arrives during a weaker venture environment. As previously reported, Coinbase Ventures completed 30 investments during the first half of 2026, while broader fundraising slowed and capital became concentrated among fewer investors and projects.
Psalion’s target sectors continue to attract large rounds. Pharos Network raised $44 million for institutional RWA infrastructure. Citi Ventures also invested in stablecoin payments company BVNK, although the investment amount was not disclosed.
The next updates will be further portfolio announcements, details about investor subscriptions and any revised disclosures concerning the $50 million size. Fund III must also remain within Singapore’s restricted-scheme framework while being offered there.
No public token or listed security was announced in connection with the fund. There was therefore no verified market-price reaction directly tied to the launch.
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