Zilliqa launches US$5m investment fund via ecosystem growth arm

ZILHive will offer support to promising talents and projects across the tech ecosystem.

Blockchain giant Zilliqa has injected a strategic annual investment fund of up to $6.7m (US$5m) for 15 promising companies building on its platform, through two new initiatives in its ecosystem growth arm ZILHive.

The new initiatives, ZILHive Incubator and ZILHive Ventures, serve to supplement the investment fund previously committed to grants, accelerator, and education initiatives in 2018. ZILHive, now comprising a total of five growth engines, is designed to offer holistic support to promising talent and high-growth projects across the global tech ecosystem.

ZILHive Incubator is a 14-week programme designed to match developers and industry professionals looking to build blockchain-based solutions, whilst ZILHive Ventures is an investment vehicle that will support mature projects that have completed both the ZILHive Incubator and Accelerator programmes.

“We have now doubled our investment into high-potential startups and initiatives in service to this goal: guiding entrepreneurs from right from the drawing board, seeding and nurturing them to become not merely a blockchain success story, but provide truly useful applications for people,” Zilliqa senior vice president Han Wen Chua said.