Two subsidiaries of EMURGO will invest in projects on the Cardano blockchain, which are in the early stages of development.
According to the announcement of EMURGO, a new ecosystem development tool will soon be launched – an investment fund with a capitalization of $ 100 million. EMURGO is an international investment company, one of the three co-founding partners of Cardano, together with IOHK and the Cardano Foundation. Responsible for investment and project promotion.
According to Ken Kodama, CEO of EMURGO, two subsidiaries, EMURGO Africa and EMURGO Ventures, will invest $ 100 million in companies that develop DeFi and NFT applications, as well as African startups.
EMURGO Africa money will be invested in regional start-ups during the initial funding stage. The challenge is to make Cardano the standard for technology platforms in Africa. Adanian Labs, a venture capital studio supporting startups, and Adaverse, a Cardano accelerator program, will partner with the company.
EMURGO Ventures’ investments will be directed to other markets in order to facilitate the creation of solutions and services on Cardano. The money will be invested in startups and organizations that create DeFi and NFT tools. A seed investment has already been announced in Milkomenda, a dcSpark sidechain that connects Cardano and other Tier 1 blockchains using ADA (wADA) as their underlying asset.
“More than ever, we are focused on accelerating the development of the Cardano ecosystem. We strive to meet demand by providing the capital and strategic resources needed to scale and grow our core businesses, ”said Ken Kodama, CEO of EMURGO.
