Former TON Foundation executive launches $40 million TON Ventures fund
According to Cointelegraph, a new venture capital firm called Open Network Ventures has officially launched a $40 million fund to support early crypto projects within the TON ecosystem. The new venture capital firm was founded by former senior members of the TON Foundation and aims to connect investors with builders to promote the development and innovation of TON.The press release states that TON Ventures will focus on consumer applications utilizing the Telegram social platform: "TON Ventures will focus on Telegram's social graph, Telegram mini-apps, and tools and infrastructure to support founders building mass-market applications." In addition to funding support provided by the new venture capital firm, selected projects will be able to "leverage the team's global resources and extensive experience." Selected projects will also receive benefits such as "Telegram ads, media support, strategic partnership relationships," among others.The early members of the TON Foundation and "former TON builders" established this new venture capital firm, combining their previous experience supporting successful TON Web3 games like Gatto and Catizen. Inal Kardan, former game director of TON Foundation, will lead TON Ventures.
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