Gate Ventures, Movement Labs, and Boon Ventures have launched a $20 million fund to accelerate Web3 innovation, focusing on Move-based blockchain technologies.
Gate Ventures, Movement Labs, and Boon Ventures have announced the launch of a $20 million fund aimed at accelerating innovation in the Web3 space. This strategic partnership will focus on investing in cutting-edge projects and enhancing the development of Move-based blockchain technologies.
The newly established fund is a significant milestone in the mission to drive forward-thinking solutions in the Web3 ecosystem. Kevin Yang, Managing Partner at Gate Ventures, emphasized the importance of collaboration in paving the way for decentralized technology.
Rushi Manche, Co-Founder of Movement Labs, described the fund as a game-changer for the Move ecosystem, highlighting its potential to support builders in decentralized finance, on-chain gaming, and decentralized infrastructure.
Teerus Boon-Long, CEO of Boon Ventures, expressed optimism about the long-term vision of the fund, stating that it aims to build a promising future for a decentralized society rather than focusing on short-term gains.
The partnership leverages the unique strengths of each entity:
To achieve its goals, the fund will implement several initiatives:
As the fund begins to deploy its $20 million, the partners are dedicated to fostering innovation and advancing the Web3 space. They will provide updates on investments, collaborations, and technologies that will shape the future of blockchain and decentralized applications. This initiative marks a significant step forward in the evolution of Web3, promising to enhance security, scalability, and user experience in decentralized networks.
| The Manila Times ](https://www.manilatimes.net/2024/10/13/tmt-newswire/pr-newswire/gate-ventures-movement-labs-and-boon-ventures-launch-20m-fund-to-accelerate-web3-innovation/1983681), The Manila Times.
