Dubai-based TD VC launches $100m Web3 ‘special situation’ fund

TradeDog Group, the parent company of TD VC that is based in Dubai in the UAE, has announced the launch of their $100M Web3 “special situation” fund that will be allocated in projects with good products and businesses with struggling token markets.

The company’s recent investment announcement comes with a GP commitment of $10 million.

In a statement, the company said that TD VC’s fund will be spent to invest in promising young companies and support the limitless possibilities of Web3 tech. It is designed to allow entrepreneurs to bring forth the actual value of innovative project offerings in building the internet on blockchain.

TradeDog will leverage its following of more than 3 million traders and investors to build an active trading community for the portfolio of TD VC Fund 2, while TradeDog Market Management (TDMM) will be useful to execute sophisticated strategies in live markets (exchanges & DEXs) if required, the statement added.

TD VC is a Multi-Strategy fund with a portion allocated to a flagship strategy “special situations investment.” With this, TD VC will be able to provide crypto businesses with tailored injections of capital based on the requirements of the token.

Its thematic fund will primarily invest in companies with strong fundamental businesses but whose token markets are currently underperforming.

Rupesh Pednekar will lead the operations of the special situation fund, the company said.

He is a partner and a seasoned strategic business leader who will use his experience in building and growing startups on board, as well as, extensive technology and institutional financial experience.

With his vast experience, Pednekar has advised multiple entrepreneurs, startups, and mid-size firms in their growth strategy and venture capital raise as part of a boutique advisory firm.

Pednekar also spent more than eight years at Moody’s Investors Service in New York City, where he led several critical initiatives around regulatory compliance, process and methodology upgrades, including technology transformation.

Before he joined Moodys, Pednekar also led high-impact projects at Verizon Wireless, including the 4G launch, billing systems upgrades, and technology integration for the company’s many acquisitions.