Singapore-based blockchain technology developer Zilliqa has set up a corporate venture capital fund to invest a total of up to $5m in 15 companies using its platform, e27 has reported.
The capital will be deployed through ZILHive, the Zilliqa ecosystem growth subsidiary that oversees corporate venturing fund ZILHive Ventures and the earlier-stage ZILHive Incubator, providing $50,000 to $500,000 per company in equity funding, tokens or a blend of both.
ZILHive Incubator is a 14-week programme matching entrepreneurs with developers to build blockchain tools on the Zilliqa protocol, while ZILHive Ventures will invest in more mature projects that are already using the protocol.
Han Wen Chua, senior vice-president for ecosystem development at Zilliqa, said: “We have now doubled our investment into high-potential startups and initiatives.”
