Aelf, a Singapore-based blockchain firm, has launched a US$50 million investment fund to back various blockchain projects.
Called Aelf Ventures, the fund aims to discover investment opportunities within the Web3 sector, particularly focusing on “high-performance” Layer-1 blockchain projects.
A Layer-1 blockchain is the base network of a platform that validates and finalizes transactions. Some common examples of Layer-1 blockchains include Ethereum, bitcoin, Solana, and BNB Chain.
Aelf said it is using a “vertical and stage-agnostic” approach, looking for firms addressing needs in the gaming, DeFi, and NFT spaces, among others.
It will also concentrate on projects that are looking to shift from Web2 to Web3, as well as blockchain projects within both the Aelf and multichain ecosystems.
Source: Tech in Asia