FinTech news in funds category

Its new ecosystem fund is backed by previous investors like Pantera and Jump as well as other web3 players, including Kraken Ventures, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital. Injective, a layer-1 blockchain focused on building financial applications, has launched a $150 million fund ecosystem initiative, the platform CEO and co-founder, Eric Chen, told journalist. The group aims to support projects building on Injective or Cosmos blockchains in the interoperability, DeFi, trading, proof-of-stake infrastructure and scalability solutions sectors, it said. In the current market, there’s a lot of quality projects looking for backing but having more difficulty reaching investors, Chen noted.