Tykhe Block Ventures, a USA based Venture Capital firm, has announced the first close of it’s Blockchain Growth Fund. The first close was led by a clutch of UHNWIs and Family Offices operating in South-East Asia & Middle East.
The firm has also committed that approximately $10 Mn of the fund will be allocated to invest in blockchain & Web3 startups in the Middle East region. Tykhe is also in the process of setting up their Dubai office and aims to launch a $100 Mn fund later this year.
Tykhe Block Ventures was started in 2021 by Prashant Malik, one of the leading investors in SEA (early investor in multiple unicorns like Urbanclap, Shadowfax, OfBusiness, Coinswitch) and widely recognized as the creator of Apache Cassandra– the distributed database used by majority of technology enterprises globally. Prashant built Cassandra when he joined Facebook as one of the earliest employees – that was later open-sourced as Apache Cassandra.