Funds bringing $100M for Solana to boost its ecosystem growth
Total of $100 million, from the five strategic investment funds, have launched in a bid to accelerate the growth and development of Solana’s blockchain ecosystem.
Funding will be assigned to the projects developing on Solana Ecosystem within the Chinese region.
All the five funds are: 1.crypto exchange Huobi, 2.Gate.io’s investment arm, Gate Labs, 3.crypto investment firm NGC Ventures, 4.wallet provider MATH Global Foundation and 5.digital asset management group Hash Key. All of them have invested $20 million each.
According to the press-release, Huobi’s fund will focus on projects building infrastructure-related products within Solana, while NGC’s will be focusing on offering mentorships on the company’s development, hiring and financial management. Meanwhile, Gate Lab’s fund will provide projects access to growth opportunities within new markets, specifically the Asia-Pacific region.
In the context of building on Solana, HashKey’s fund will attempt to provide resources and guidance to projects looking to access institutional and retail markets. MATH’s fund will take a focus on global investments.
The foundation has now attracted a total of $140 million in funding, while including a $40 million investment from crypto exchanges OKEx and MXC in March.