Tykhe Block Ventures launching a $30-mn crypto fund; finding 30% tax too steep: Prashant Malik

economictimes.indiatimes.com:

As the acceptance of crypto investment rises in India, crypto funds are getting mainstream. Tykhe Block Ventures is an emerging homegrown crypto firm which aims to manage $30 million by the end of the year. «A delay in adoption of crypto in India may just increase brain drain from the country,» said Prashant Malik, Founder and General Partner at Tykhe Block Ventures. After a stint in Meta (formerly Facebook), Prashant Malik co-founded the e-commerce platform Limeroad. He has been among the early investor/advisors in the crypto companies such as CoinSwitch, Neo Banj Juno and Bluzelle. Edited excerpts from an interview:What kind of work does Tykhe Block Ventures do? Do you invest for yourself or manage funds for other investors as well? How big is your fund and how much return, in percentage terms, have you been able to reap so far?We are a crypto-asset investment firm. We invest in ventures and hold liquid investments within the blockchain sector with a focus on decentralisation technologies, digital assets and their key enabling infrastructure. We started private, we were only managing our own money, me and my partners pooled in the initial capital and we went with our idea of investing in frontier tech related to blockchain and Web3. After a full year of operation, we currently have roughly about 7 times in AUM over our initial capital. With this proven success behind us, we are now in the process of launching a $30 million fund, where we are inviting investors to take part in this journey with us.

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