Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
The rapidly growing TON blockchain, originally started by messaging app Telegram, is getting its own venture capital fund with ecosystem leaders spinning out an independent, for-profit entity from the network's development foundation.
TON Ventures announced its formation on Wednesday, led by Ian Wittkopp, the former director of TON Accelerator, and Inal Kardan, former gaming lead at TON Foundation.The organization has already raised $40 million and plans to invest in early stage consumer applications in the TON ecosystem with"mass appeal," the press release said.
"TON and Telegram have created a paradigm shift for web3," Ian W., managing partner of TON Ventures, said in a statement."With our deep experience in the ecosystem, we believe the highest leverage point is in capital allocation for TON."in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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