Avalanche Foundation Launches Fund Worth Over $200M Dedicated to Supporting Ecosystem Development…
Avalanche Foundation Launches Fund Worth Over $200M Dedicated to Supporting Ecosystem Development, Innovation
Blizzard Fund investors include the Avalanche Foundation, Ava Labs, Polychain Capital, and Three Arrows Capital.
The Avalanche Foundation has launched Blizzard, an over $200M fund dedicated to accelerating development, growth, and innovation across the ecosystem of builders and users of the Avalanche public blockchain and beyond.
Blizzard is composed of contributions from the Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/Crypto Fund, Collab+Currency, Lvna Capital, and Finality Capital Partners amongst others.
The fund is focused on four key areas of growth across the Avalanche ecosystem: DeFi, enterprise applications, NFTs and culture applications, and will also look for opportunities to support other emerging use cases such as security token issuances, liquidity providers and self-sovereign identity. Support for projects from Blizzard will include equity investments, token purchases, and various forms of technology, business development and ecosystem integration support.
A dedicated team of fund managers composed of experts in blockchain and decentralized finance research and development, capital markets and finance, business development and operations, marketing and community development will oversee the deployment of capital and provide post-investment portfolio support.
“The last two months have shown incredible growth across Avalanche, with users, assets, and applications joining the community in record-highs,” says Emin Gün Sirer, Director of the Avalanche Foundation. “Blizzard will play a key role in further accelerating this growth, and solidifying Avalanche’s position as the premiere home for projects and people pioneering the next era in our space.”
Since launching in September 2020, Avalanche is one of the fastest organically growing ecosystems in blockchain. It now has over 320 projects building on the platform, including top-tier DeFi projects like Tether, SushiSwap, Chainlink, Circle, and The Graph, and over a thousand validator nodes staking tokens.
Further, applications on Avalanche now account for over $8.2B in total value locked according to DeFi Llama, a measure of the total amount of assets locked in the various DeFi applications smart contracts.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Avalanche is also the premier platform for individuals and enterprises to easily create powerful, reliable, and secure private or public networks with complete control over their implementation. These “Subnets” can be the foundation for the creation of new ecosystems of value in asset tokenization and regulated institutional use cases.
Projects interested in joining the Blizzard portfolio by expanding to Avalanche or building the next big thing in the Avalanche community should contact Blizzard@avalabs.org.
About Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
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