Gate Ventures, Movement Labs, And Boon Ventures Introduce $20M Fund To Boost Web3 Innovation
In Brief
Gate Ventures, Movement Labs, and Boon Ventures launch a $20 million fund aimed at investing in projects built on Move programming language.
Global venture capital firm specializing in blockchain, Gate Ventures, announced the establishment of a $20 million fund aimed at driving innovation in the Web3 sector in collaboration with Movement Labs, a network of modular Move-based blockchains, and Boon Ventures, an investor specializing in emerging technology startups. This strategic partnership is set to invest in forward-thinking projects, accelerating the development of blockchain technologies built on the Move programming language and contributing to the ongoing evolution of decentralized ecosystems.
“This $20 million fund marks a significant milestone in our mission to drive forward-thinking solutions in the Web3 ecosystem,” said Kevin Yang, Managing Partner at Gate Ventures, in a written statement. “By collaborating with Movement Labs and other visionary projects, we’re paving the way for the future of decentralized technology,” he added.
The fund will prioritize four main areas: accelerating the adoption of Move-based blockchain solutions, improving security and performance in decentralized networks, supporting projects that bridge Move and Ethereum Virtual Machine (EVM) ecosystems, and fostering innovation in Web3 infrastructure and applications.
New Fund To Focus On Organizing Global Hackathons, Establishing Mentorship Programs, And Offering Research Grants
This collaboration combines the strengths of each partner. Gate Ventures brings extensive resources, a global network, and deep expertise in Web3 investments, fostering strategic partnerships and growth opportunities. Movement Labs contributes specialized knowledge in Move-based blockchain technology, infrastructure, and ecosystem development. Boon Ventures adds its proven success in empowering startups through funding, mentorship, and strategic guidance.
In order to help achieve these goals, the fund will introduce several key initiatives. These include organizing global hackathons to drive innovation in Move-based technologies and attract top talent, establishing a mentorship program that connects industry experts with promising Web3 startups to provide guidance and expertise, creating a research grant program to advance blockchain interoperability solutions and encourage cross-ecosystem collaboration, and hosting quarterly leadership summits to address key challenges in the Web3 space and promote collective progress.
Gate Ventures, the venture capital division of Gate.io—one of the major cryptocurrency exchanges—focuses on early-stage investments in blockchain technology and digital assets.
Recently, the firm made a strategic investment in double jump.tokyo, a Japan-based Web3 gaming company. Additionally, Gate Ventures participated in the Series A funding round for Space and Time (SxT), further expanding its portfolio.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
