The Sei Foundation announced the launch of a $65 million venture fund to support decentralized science (DeSci) startups, aiming to transform scientific research utilizing blockchain technology.
Fund and Strategic Goals
The fund will invest in both tokens and equity of DeSci projects, with investment sizes ranging from $100,000 to $2 million. Justin Barlow, head of business development and investments at the Sei Foundation, stated that the full $65 million will be deployed over the next three to four years. Sapien Capital—Open Science Fund I will focus on key areas like wearable technology, user-owned data collectives, and gamified drug discovery. The aim is to leverage crypto's ownership and funding models to tackle systemic challenges in life sciences and biotech.
The Growth of DeSci and Challenges
Decentralized Science, or DeSci, is transforming the traditional scientific research landscape, offering transparent platforms for data-sharing and decentralized funding via DAOs. Despite its potential, the sector faces challenges regarding trust, regulation, and slow uptake by the scientific community. The Sei Foundation plans to work with respected academic institutions and companies to build trust and encourage widespread adoption.
Trends and Interest in DeSci
The DeSci sector is attracting interest from major players. In November 2023, YZi Labs (formerly Binance Labs) invested in BIO Protocol, marking one of the first major investments in the sector. Additionally, venture capital firms like a16z are showing growing interest in blockchain-powered science projects.
Through its Sapien Capital fund, the Sei Foundation is making a significant move toward advancing decentralized science by supporting innovative ownership and funding models in scientific research, advocating for their broader acceptance.
