- Web3 Foundation and Polychain Capital announce Polkadot Ecosystem Fund
- Fund aimed at supporting teams of all sizes and stages building on Polkadot
San Francisco & Zug, October 29, 2019 — Web3 Foundation and Polychain Capital are joining forces to launch the Polkadot Ecosystem Fund during San Francisco Blockchain Week.
The fund is a Polychain-operated investment vehicle jointly capitalized by Web3 Foundation and Polychain.
The two organizations together aim to expand the Polkadot ecosystem by making strategic deployments into investment targets at all stages of growth.
Attractive investment targets include projects building with Substrate; projects signaling intention to deploy a parachain; and projects building technologies further up the Web 3.0 stack that will contribute to the broader growth and adoption of the Polkadot network.
“Even before launch, robust funding channels are becoming available for development teams building within the Polkadot ecosystem,” said Dr. Gavin Wood, the founder and president of Web3 Foundation. “The Polkadot Ecosystem Fund offers an important outlet for teams at all stages to get the support they need.”
“We are excited to invest and partner with hardcore engineers and entrepreneurs to catalyze the development of economic software built for Polkadot,” said Polychain Capital founder and Chief Investment Officer Olaf Carlson-Wee.
Builders can contact the fund at fund@web3.foundation.
About Polkadot
Polkadot is the first interoperability protocol that enables blockchain networks to work together under the protection of shared security.
By parallelizing transactions, Polkadot solves major scalability issues that have thus far hampered blockchain development. Polkadot also introduces a highly advanced, open governance system that will allow the network to innovate and grow at a much more rapid pace than legacy networks. Applications from decentralized finance and energy to gaming and communications will thrive on Polkadot, forming the basis of digital jurisdictions in Web 3.0. Polkadot is the first project spearheaded by Web3 Foundation.
For more information on Polkadot, visit polkadot.network/.
About Web3 Foundation
Established in Zug, Switzerland by Ethereum co-founder and Chief Technology Officer Dr. Gavin Wood, Web3 Foundation funds research and development teams building the stack of technologies behind the decentralized web.
For more information on Web3 Foundation, visit web3.foundation.
About Polychain Capital
Polychain accelerates the global adoption of cryptocurrency with investments and active participation in blockchain networks.
Press Contact
Zeke Turner Head of Communications Web3 Foundation press@web3.foundation +41 78 932 72 27
Peter Mauric Head of Public Affairs Parity Technologies press@parity.io +1 443 463 5658