The commercial arm of Cardano has announced the launch of a $100 million fund that will “invest into early startup and growth stage companies focused on building socially impactful solutions powered by Cardano.”
EMURGO, which was founded in 2017, is “a global blockchain technology company providing solutions for developers, startups, enterprises, and governments”; and it “develops enterprise-grade applications, builds developer tools, invests in startups, and provides blockchain education.” The company has “offices and manages projects in Singapore, Japan, the USA, India, and Indonesia.”
In a press release issued on September 27, EMURGO, which is better known as “the official commercial arm of the Cardano blockchain”, announced that this new Cardano investment vehicle will be “composed of two separate entities, EMURGO Africa, and EMURGO Ventures, each with a distinct investment thesis.”
EMURGO Africa has already announced “two major partnerships to rapidly expand the Cardano ecosystem in Africa and utilize the large business networks of its partners.”
As for EMURGO Ventures, it has has announced “ts first seed investment into Milkomeda – a dcSpark sidechain project bridging Cardano and other Layer 1 blockchain protocols that will utilize wrapped ADA (wADA) as an asset.”
EMURGO CEO Ken Kodama had this to say:
“We are more focused than ever on accelerating the development of Cardano’s ecosystem with a rich mix of decentralized services catering to a global community that is increasing in overall blockchain awareness. EMURGO is dedicated to meeting this demand by providing the capital and strategic resources necessary for our portfolio companies to scale rapidly and bring new solutions to Cardano.“
And Charles Hoskinson, Co-Founder and CEO of IOHK, said:
“EMURGO’s investments will help to shape the future of the Cardano ecosystem, a maturing network with a creative and diverse community, growing smart contract capabilities and partnerships across the globe that provide social and financial services utilizing Cardano’s provably-secure technology.“
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