Recently, Crypto exchange Gate.io announced a $100 million fund, designed to facilitate innovations in the digital age. The fund will focus on three main areas: Technical and Financial Infrastructure, Crypto-Native Ecos, and Next-Gen Applications.
According to the firm, the early-stage crypto venture capital fund - Gate Ventures, is a worldwide venture investment initiative, which is focused on decentralized infrastructure, ecos, and applications that will reshape the world in the digital age. The endeavor will offer financing, operational resources, and expertise to the crypto industry for next-gen innovations.
The initiative will also offer grants to open source projects active in building the future of web3 and open finance. Gate.io said that the new endeavor will not only act as an investor but a builder and cultivator.
Source: gate.io
The exchange believes that continued innovation in Layer 1, Layer 2 and cross-chain solutions are going to be very important for future mass adoption of cryptocurrencies. In the way that DeFi, NFT and Gaming markets reach new heights, and other new sectors like the ‘metaverse’ emerge, the crypto exchange aims to promote the forefront of innovations in people's lives.
The exchange also said that Gate Ventures invests in wide-ranging companies, with investments up to multimillion Dollars in value. The endeavor will work closely with industry leaders to help promising teams and new companies to develop innovative ideas into reality and redefine mankind's social and financial interactions.
Interestingly, the launch of Gate Ventures coincides with Gate.io participation in May, along with Hacken, Coin DCX, and BRZ to support a $60m raise to help support projects building centered on the Solana blockchain in emerging markets.
"Gate.io deeply recognizes that the cryptocurrency and blockchain industry still remains in early stages, and the industry still needs to continue to move forward in innovative practices in the future." wrote the company."Gate Ventures will be committed to providing portfolio companies with various supports in aspects of product development, operational expansion and global growth. "