Let's talk money. Meet Singapore-based Grayscale Ventures, a new microfund for pre-seed SaaS startups. If you're a product-led founder looking for VCs as product-led as you, you'll want to know them.

• They had the first close of their fund soon after their launch.

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💰Fun(d) plans

They're a ten-year term fund with a plan to invest in 15–20 startups at pre-seed or as the first check.

• Check it. Check sizes are about $200k to $1M, targeting 10% ownership in each company.
• They prefer to lead the round or co-lead with other specialized funds whenever possible.

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😏 Are you a match?

They're looking for Southeast Asian and Indian product-led founding teams with strong developer capabilities.

• Grayscale is mainly focused on developer infrastructure (DevInfra), applications of AI, and vertical SaaS.

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🤝🏼 What they've got for you

It's more than just the money. They love co-building products with their founders, figuring out PMF (product-market fit) and opening up access to markets in the US and APAC.

• Most of the fund's LPs are founders and operators at Slack, Zendesk, Hasura, GlobalWay, Nexus, STRIVE, Apollo Munich, UOB across Japan, SEA, India and the US.

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😮 Are you next?

They've already made a few investments, like Olvy, a SaaS platform for product feedback lifecycle management and Localwell, a mobile SaaS platform for Indian pharma retailers.

Blast from the past. At their previous firm, Grayscale's Partners previously invested in over 25 startups, including unicorn Hasura and soonicorn Classplus.

• They've also taken partial secondary sales and merger and acquisition M&A opportunities in portfolio companies like Hasura, SuperK, and PopXO. 

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