Cosmos Builder, 11 VCs invest $150M in multichain crypto teams

Ignite (formerly Tendermint), is leading a $150 million investment to support teams within the Cosmos (ATOM), blockchain ecosystem.

Announced Tuesday, the core contributor to Cosmos development is teaming with 11 crypto investment firms to fund “early-stage projects that have already initiated development.”
The accelerator’s initial group of strategic partners include Sam Bankman Fried’s Alameda Research, KuCoin Ventures, OKX Blockdream Ventures, Hashkey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake and Galileo.
CoinDesk was informed by an Ignite spokesperson that the accelerator is open to all multichain crypto projects, not just Cosmos-based. (It appears to be a continuation of the network’s anti-maximalist trend.)
Ignite has now opened applications for the initial round of its six-month program. The company plans to support 20 projects annually.
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