Gate Ventures (a global venture capital firm specializing in blockchain), Movement Labs (a leader in Move-based blockchain technology), and Boon Ventures (an emerging tech startup investor), announced the establishment of a $20 million fund designed to transform the Web3 space. This alliance will invest in cutting-edge projects and accelerate the development of Move-based blockchain technologies.
This fund will concentrate on four key areas:
1.) Movement Labs, Gate Ventures, and Boon Ventures forge a strategic alliance to champion next-gen, Move-based blockchain projects
2.) Accelerating the adoption of Move-based blockchain solutions
3.) Enhancing security and performance in decentralized networks
4.) Supporting projects that bridge Move and EVM ecosystems
5.) Driving innovation in Web3 infrastructure and applications
This partnership utilizes the unique strengths of each entity:
1.) Gate Ventures brings extensive resources, a global network, and deep experience in Web3 investments, enabling strategic partnerships and growth opportunities.
2.) Movement Labs provides profound expertise in Move-based blockchain technology, infrastructure and ecosystem building.
3.) Boon Ventures has a solid track record of empowering innovative startups across multiple sectors through funding, mentorship, and strategic guidance.
To help achieve its goals, the fund will implement several key initiatives:
1.) Organize global hackathons to stimulate innovation in Move-based technologies and attract top talent.
2.) Set up a mentorship program connecting industry veterans with promising Web3 startups to provide guidance and expertise.
3.) Create a research grant program to advance blockchain interoperability solutions, fostering cross-ecosystem collaboration.
4.) Host quarterly thought leadership summits to address pressing challenges in the Web3 space and drive collective progress.
As the fund deploys $20 million, the partners are committed in fostering innovation and driving the Web3 space forward. They will provide updates on investments, collaborations, and leading-edge technologies that will define the future of Web3, blockchain, and decentralized applications.
KEY QUOTES:
“This $20 million fund marks a significant milestone in our mission to drive forward-thinking solutions in the Web3 ecosystem. By collaborating with Movement Labs and other visionary projects, we’re paving the way for the future of decentralized technology.”
-Kevin Yang, Managing Partner at Gate Ventures
“This $20 million fund is a game-changer for the Move ecosystem. It’s a powerful validation of what we’re building at Movement Labs. Move’s capabilities in security and scalability are setting new standards in Web3. This fund will specifically be used to support builders building the future of secure decentralized finance, fully on-chain gaming and consumer, as well as decentralized physical infrastructure efforts.”
-Rushi Manche, Co-Founder of Movement Labs
“This is the beginning of a great journey forward in the Web3 space. It’s not aimed at short-term goals but at building a promising future for a decentralized society.”
-Teerus Boon-Long, CEO of Boon Ventures
