Hong Kong-based venture capital firm Chiron has raised a $50 million fund dedicated to backing projects on the Terra blockchain, the company announced Wednesday.
The fund is the latest cash influx into Terra’s rapidly growing ecosystem, which attracted a $150 million decentralized finance (DeFi) fund in July.
Investor confidence in the Terra ecosystem has never been higher, a representative of the fund told CoinDesk, as the blockchain’s native LUNA token continues testing all-time highs despite an overall market downturn.
“The Terra ecosystem’s growth potential, particularly after the latest Columbus-5 upgrade and announcements on Risk Harbor insurance wrapped protection, is limitless,” said Jake Cormack, chief operating officer at Chiron Partners. “We want to work closely with visionaries behind up-and-coming projects built on Terra, supporting them with not just capital, but also our strategic, extensive resources and expertise.”
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