EMURGO Launches $100 Million Cardano Investment Fund
- The fund will invest into early startup and growth-stage companies building on Cardano.
- It will consist of two separate subsidiaries—EMURGO Africa and EMURGO Ventures.
Shutterstock
EMURGO, the official commercial arm of the Cardano blockchain, announced the launch of a new Cardano ecosystem investment fund. According to a press release published on 27 September, the $100 million fund will invest into early startup and growth-stage companies building socially impactful solutions on the Cardano blockchain.
The fund will consist of two subsidiaries — EMURGO Africa and EMURGO Ventures — each with a distinct investment thesis.
EMURGO Africa will support over 300 regional startups in Africa through seed funding and incubation. The goal of the subsidiary will be to have Cardano adopted as the technological platform standard across the continent, the company said.
EMURGO Ventures will focus on other, more developed markets. It will support the development of the Cardano ecosystem with a set capital allocation for seed investments into startups building DeFi services, NFT projects, blockchain developer education tools, and other dApps on the network.
“We are more focused than ever on accelerating the development of Cardano’s ecosystem with a rich mix of decentralized services catering to a global community that is increasing in overall blockchain awareness,” said Ken Kodama, the CEO of EMURGO. “EMURGO is dedicated to meeting this demand by providing the capital and strategic resources necessary for our portfolio companies to scale rapidly and bring new solutions to Cardano.”
Charles Hoskinson, the CEO of Cardano’s parent company IOHK, said that EMURGO’s investments will help shape the future of the Cardano ecosystem, turning it into a mature network with a creative network and a diverse community.
- The long awaited Vasil upgrade had finally been activated, enabling increased network capacity, higher throughput, and lower transaction costs on Cardano.
- The upgrade gas also made significant improvements to the Plutus smart contract language, though its full capabilities will be unlocked on 27 September.
Shutterstock
- Cardano’s native token ADA has become the fourth asset to be supported by Sygnum’s staking platform, the rest being ETH, ICP, and YTZ.
- Although Sygnum first debuted its crypto staking service two years ago, it has already become an integral part of its business.
- On 26 December U.S. users will loose the ability to open new positions in ADA and TRX, and by 31 December will no longer be able to stake the tokens.
- eToro will limit the selling of the assets sometime in Q1 2022, after it has made its wallet compatible with ADA and TRX.