Crypto exchange Gate.io has launched a $100 million fund designed to support budding projects in the industry.
Gate Ventures, the exchange’s venture capital vehicle, is focused on early-stage investments in decentralized infrastructure, ecosystems and applications, according to a press release on Monday.
Gate Ventures will invest in “wide-ranging” projects with capital injections of up to “multimillions” of dollars. It also will offer grants to open-source projects that are building Web 3.0 and open-finance infrastructure.
According to the exchange, Gate Ventures offers financing, operational resources and industry expertise to the operations it invests in. The fund will also offer support from the existing Gate.io ecosystem.
Three main areas of focus for the fund’s investment will be technical and financial infrastructure, ecosystems and applications.
“We believe it’s still the early days in the crypto and blockchain industries,” Marie Tatibouet, the exchange’s chief marketing officer, said. ”Gate Ventures is an extension of the existing Gate.io ecosystem, which aims to cultivate innovation in the market.”
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