"Sei Foundation Launches $65M Fund to Revolutionize Science Finance"

The Sei Foundation has launched a $65 million venture fund, Sapien Capital, to invest in decentralized science (DeSci) projects built on the layer 1 blockchain Sei (SEI). The fund aims to transform science funding and redefine how scientific research is shared and validated.

The fund, named "Sapien Capital – Open Science Fund I," is not designed for the Sei ecosystem and does not include grants. Instead, it focuses on venture investments in DeSci startups, including those working on gamified drug discovery and wearables. The fund will invest in both project tokens and equity, with check sizes ranging from $100,000 to $2 million.

Sapien Capital plans to fully deploy its capital within the next three to four years, according to Justin Barlow, the head of business development and investments at the Sei Foundation. The fund's launch comes amidst growing interest in DeSci, with leading venture capital firms such as a16z Crypto and YZi Labs (formerly Binance Labs) investing in the space.