5 new funds inject $100 million into Solana blockchain ecosystem development
The Solana Foundation (Solana Foundation), the oversight of the emerging Layer 1 Proof of Stake (PoS) Solana blockchain protocol, today announced that it has partnered with exchanges Huobi and Gate Labs, and investment funds NGC Ventures and HashKey Group. As well as the cross-chain wallet of the MATH (multi-party partner) cooperation platform, five strategic investment funds have been launched to accelerate the development of key projects in China and provide continuous support for companies doing business on Solana.
Projects that have emerged from the market and can be used in the market by introducing a total of 100 million US dollars of new funds into the Solana ecosystem Solana Season hackathon Will be able to obtain dedicated investment and resources to expand its community and accelerate adoption.
“Solana is committed to the long-term growth of each project and developer based on Solana. As we continue to build a censorship-resistant and community-centric ecosystem, we are very happy to acquire new strategic partners Huobi, Gate Labs, NGC Supported by Ventures, HashKey and MATH Global Foundation.”
–Anatoly Yakovenko, Chairman of the Solana Foundation
Huobi’s fund will focus on projects that build infrastructure-related products, especially those that build middleware and DeFi infrastructure. Huobi has nearly ten years of experience and will provide strategic guidance for market insight, financing, mechanism design and market support for post-investment projects.
“Huobi has long focused on innovative blockchain infrastructure. Solana is now making revolutionary changes in the underlying hardware to improve performance, which are rare and valuable. We believe that by working in the Solana ecosystem, We can help develop the next generation of progressive and avant-garde blockchain projects. These projects aim to achieve goals that other public chains cannot support or achieve.”
-Huobi Investment Team and Director of Huobi Defi Labs (Unica Yin)
Through Gate Labs funds, projects carried out on Solana will be awarded opportunities for growth opportunities in new markets, especially in the Asia-Pacific region. As the investment arm of the Gate.io exchange, Gate Labs will help the project attract a global audience and support long-term brand awareness.
“Gate Labs was established in January of this year. Its mission is to provide entrepreneurs in the blockchain field with the development opportunities and services they need. We look forward to working with the Solana Foundation to empower talents who use blockchain technology to innovate. Entrepreneurs and outstanding projects.”
– Lin Han of Gate Labs
NGC Ventures and HashKey Group
The second and third funds have been NGC Venture Capital with Hash key group. NGC Ventures has focused on providing guidance since history, and they have always emphasized development, recruitment, and prudent fund management and financial management.
“One of Asia’s main advantages is the unique blockchain community that has developed in the past five years. As an important member of the APAC blockchain community, thanks to our leadership team and extensive network knowledge, HashKey is supporting the region’s Blockchain project development is in a unique position. We look forward to doing this with the Solana Foundation.”
– Ryan Chen of HashKey
By leveraging their experience in investing in many successful projects (including Theta, Chainlink, Algorand, Solana, Polkadot, and Filecoin), NGC Ventures will bring valuable relationships to projects in the Solana ecosystem. HashKey is a digital asset management and financial technology designed to bring more resources and provide guidance for projects seeking to enter the institutional and retail markets.
“NGC Ventures is happy to be an active investor in the Solana ecosystem. We look forward to the opportunity to invest in projects with innovative use cases to solve the immediate problems.”
– Roger Lim, founding partner of NGC
The final fund was established by the MATH Global Foundation (the Singapore team behind the development of MathWallet), which will focus on global investment and interoperable solutions that can establish more than 66 public chains with the Solana ecosystem. After successfully integrating Solana and Solana into its wallet application, MATH’s investment will provide funding, in addition to providing technical resources designed to support new communities that want to access its rapidly growing infrastructure and subscriber traffic.
“In the past few months, the amazing growth of the Solana ecosystem has brought tremendous momentum to the entire decentralized economy. We are committed to continuing to support the development and innovation of the Solana ecosystem, and look forward to investing in the world’s best through this new fund And the smartest builder.”
– Frank Fu, CEO of Math Global Foundation