Explore The Last Investment Projects On Web3, AI, and Crypto of 1-5.04
In Brief
Technology investment is expanding, with notable initiatives including a $100 million crypto fund, $30 million injection into gaming startups, and NVIDIA’s $200 million AI centre in Indonesia.
In a week marked by notable financial initiatives, the landscape of technology investment witnesses a dynamic expansion, highlighting the diverse strategies shaping the industry’s trajectory. From a $100 million crypto fund to a $30 million injection into gaming startups and NVIDIA’s collaboration with Indosat on a $200 million AI centre in Indonesia, each endeavour symbolises a strategic leap towards harnessing the full potential of emerging technologies.
Galaxy Digital Spearheads $100 Million Crypto Fund Initiative in Collaboration with External Investors
Galaxy Digital, a venture capital firm focused on cryptocurrencies, is leading the market by starting negotiations with outside partners to establish its first cooperative cryptocurrency investment fund. This fund, called Galaxy Ventures Fund I, LP, intends to raise a sizeable $100 million and distribute it to 30 firms over the course of the coming three years with an emphasis on fostering early-stage crypto initiatives. The fund will give priority to monetary software solutions, technological frameworks, and protocols built on cryptocurrency, with investments beginning at $1 million.
Mike Wursthorn, Galaxy’s head of communications, underscored the significance of this venture, highlighting Galaxy Digital’s commitment to fostering innovation in the virtual asset network by collaborating with external investors. This move marks a pivotal moment for Galaxy Digital as it expands its footprint in the crypto investment landscape while continuing its own independent investments.
Andreessen Horowitz Fuels Gaming Innovation with $30 Million Investment in Tech-Powered Startups
VC powerhouse Andreessen Horowitz (a16z) is making waves in the gaming industry with a bold move to inject $30 million into cutting-edge tech-driven GameFi startups. The investment, part of a16z’s SPEEDRUN accelerator program, targets startups leveraging AI, VR/AR, and Web3 technologies to revolutionise gaming experiences. With a focus on nurturing up to 40 startups, each selected company stands to receive a substantial $750,000 boost, showcasing a16z’s commitment to driving development.
The program, known for its rigorous selection process, admitting only about 1% of applicants, offers more than just capital; it provides invaluable professional guidance, career development support, and access to a vibrant founder community. This strategic investment underscores a16z’s belief in technology’s transformative potential to reshape gaming’s future.
NVIDIA and Indosat Forge $200M Investment for AI Center in Indonesia’s Central Java
Tech giant NVIDIA, renowned for its AI-chip prowess, partners with Indonesian telecommunications leader PT Indosat Ooredoo Hutchison to embark on a groundbreaking venture: establishing an artificial intelligence (AI) centre in Central Java with a staggering investment of $200 million, as revealed by Indonesia’s communication minister, Budi Arie Setiadi. The proposed AI hub, set to materialise in 2024 in Surakarta city, may encompass telecommunications infrastructure or serve as a vital human resource hub.
The decision to anchor the AI centre in Surakarta stems from its preparedness, strong workforce, and cutting-edge 5G network. While both Indosat and Nvidia are yet to provide official comments on the initiative, this strategic collaboration signifies a significant leap forward in Indonesia’s AI landscape, leveraging cutting-edge technology to propel the nation’s digital transformation agenda.
Premier Meloni Unveils Italian AI Legislation and €1 Billion Investment Drive
Italian Premier Giorgia Meloni made significant strides in technological governance by announcing the imminent introduction of national legislation to regulate Artificial Intelligence (AI), pledging its alignment with the forthcoming EU AI Act. In her address to the ‘Artificial Intelligence for Italy’ conference, Meloni emphasised the legislation’s role in complementing European regulations while outlining measures to bolster Italy’s technological prowess.
Additionally, she revealed plans for a substantial €1 billion investment fund dedicated to the AI sector, facilitated by the State lender CDP’s Venture Capital unit. This strategic move underscores Italy’s commitment to fostering innovation and harnessing the transformative potential of AI to drive economic growth and societal progress.
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About The Author
Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
