Cryptocurrency startups receive investments from venture capital firms, hedge funds, and other crypto companies
The Gate.io cryptocurrency exchange yesterday announced the launch of its $ 100 million fund. The fund is intended to support startups in the cryptocurrency sector and is available to applicants who are interested in scaling their projects.
The exchange announced this yesterday on its platform. The fund, called Gate Ventures, will finance crypto startups. Gate.io stated that “Gate Ventures is a global venture investment initiative focused on decentralized infrastructure, eco-friendly and applications that will reshape the world in the digital age. Gate Ventures is supported by Gates eco and provides the crypto community with funding, operational resources and expertise for next generation innovations. Gate Ventures also offers grants for open source projects that are active in building the future of Web3 and Open Finance. “
The cryptocurrency exchange stated that it would act not only as an investor but also as a builder and cultivator. The fund will focus on three key areas; technical and financial infrastructure, crypto-native ecosystems and next-generation applications.
In addition, Gate.io said it will invest in layer 1, layer 2 and cross-chain solutions to ensure the future mass adoption of cryptocurrencies. “As the DeFi, NFT and gaming markets reach new heights and other new sectors such as the “Metaverse” emerge, Gate.io aims to promote the forefront of innovation in people’s lives“Added the exchange.
Marie Tatibouet, the exchange’s chief marketing officer, stated that Gate.io believes the crypto and blockchain industries are still in their infancy. The stock exchange wants to make a decisive contribution to the development of the industry and ensure more innovation in the coming years.
“Gate Ventures will work closely with industry leaders to help promising teams and startup companies turn innovative ideas into reality and redefine people’s social and financial interactions“Concluded the cryptocurrency exchange.
The cryptocurrency market is now worth over $ 2 trillion and is expected to continue to grow in the years to come.