Southeast Asian early-stage VC firm Golden Gate Ventures has announced a $10 million fund focused on blockchain and cryptocurrency investments.

The firm is spinning out LuneX Ventures, which it describes as Southeast Asia’s first dedicated crypto/blockchain fund with traditional VC backing. The initiative has been formed in partnership between the firm and its former Head of Growth, Kenrick Drijkoningen, now Founding Partner of LuneX.

“We view blockchain as a foundational technology, on a par with or possibly exceeding the Internet in disruptive potential. Right now valuations have come down to more reasonable levels and the industry is moving from pioneers to early adopters, which is a great time to start investing,” Drijkoningen said in a statement.

LuneX Ventures has hired Tushar Aggarwal, who runs blockchain podcast “Decrypt Asia,” as its first full-time associate. Aggarwal also has experience as a mentor to young fintech companies, and will finish a master’s degree in digital currency and blockchain while working at LuneX.

The fund will invest exclusively in high-growth blockchain companies and cryptocurrency assets. It will not just provide blockchain entrepreneurs with capital, but also industry access and expertise, which traditional VC funds have difficulty to provide.

According to the official release, LuneX will take a long-term approach to investments as the adoption curve of the technology is still in the early stage.

“Traditional investors currently struggle to access this new asset class: there are legal, custodian, banking, tax and other operating obstacles to overcome. LuneX Ventures has been been built from the ground up to address all these. We have gone the extra mile to make sure the fund is fully compliant while providing easy access to accredited investors. Our mandate allows us to invest in tokens of promising startups,” Drijkoningen added.

According to TechCrunch, the fund is seeking a $10 million raise. LuneX is looking for entrepreneurs and firms working in areas such as scalable infrastructure and interoperability that will help advance the blockchain industry to the next level.