Cryptocurrency

Injective launches $150M fund backed by Pantera, Jump Crypto

Finance-focused blockchain Injective launched a $150 million ecosystem fund to accelerate adoption of interoperable infrastructure and decentralized finance (DeFi), according to Jan. 25. raised. Press release.

The focus of the fund will be limited to founders building within Injective and the broader Cosmos ecosystem.

Built using the Cosmos SDK, Injective provides native access to Cosmos IBC-enabled chains and Ethereum.

The new fund is backed by leading Web 3.0 companies including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs and IDG Capital. The consortium will support promising projects focused on interoperability, DeFi, trading, proof-of-stake (PoS) infrastructure, and scalability solutions.

Some Web 3.0 projects receive bespoke token and equity investments. Projects are also mentored in technology development, crypto research, business development, marketing, and community growth.

Eric ChenInjective Labs co-founder and CEO said in a press statement:

“Developer activity at Injective is growing rapidly with major projects, and this new ecosystem fund provides an unparalleled opportunity for new builders to enter the entire Web3 and Cosmos ecosystems.”

Injective also announced a hackathon in March with $1 million in prizes, grants and investments.

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