Web 3 startups’ latest backer is a US$150 mln fund from Cosmos founders

Web 3.0 startups’ latest backer is a US$150 mln fund from Cosmos founders

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The fund aims to support and speed up the time-to-market of early-stage projects that have already initiated development.

See related article: Tendermint CEO Peng Zhong on how the Cosmos ecosystem is connecting a multi-chain world

Fast facts

  • Accelerator will focus on the multi-chain ecosystem and help bridge the gap faced by new interoperability projects in gaining technical and business expertise.
  • Fund backed by 11 investment partners, including Alameda Research, KuCoin Ventures, OKX Blockdream Ventures, Hashkey Capital, and more. 
  • The accelerator is Ignite’s (formerly Tendermint) third offering aimed at helping blockchain developers.
  • Tendermint founders were involved with Cosmos, the world’s largest cross-chain ecosystem. 
  • The accelerator also runs Ignite Ventures, launched last year, and Ignite CLI, a solution for developers to seamlessly build interoperable and sovereign blockchains.
  • Ignite hopes the accelerator will help participating startups with capital and expert resources, including guidance in areas like blockchain development, marketing, and tokenomics, to speed up their development cycle. 
  • “Ignite Accelerator ensures that individuals who would like to be part of building an open and decentralized global future are set up for success,” said Ignite CEO Peng Zhong. 

See related article: What is Cosmos — the ‘internet of blockchains’?

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