Crypto Exchange Gate.io Launches $100M Fund to Invest in Early Stage Projects

[RSRS]

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 up to “multimillions” of dollars. It also will offer grants to open source projects that are actively building Web 3.0 and open-finance infrastructure.

Gate.io’s fund coincides with its participation in May, alongside Hacken, Coin DCX, and BRZ to support a $60 million initiative to help support projects building atop the Solana blockchain in emerging markets.

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