New Fund, TVM Ventures, Emerges with $100 Million Dedicated to Investments in Projects Utilizing the TON Blockchain Technology
TVM Ventures Launches to Invest in TON Ecosystem Startups
Steve Yun, former president of the TON Foundation, has recently launched a new venture capital fund called TVM Ventures. The fund is focused on investing in startups that build on the TON ecosystem, prioritizing DeFi (decentralized finance) and PayFi projects.
TVM Ventures is the second TON ecosystem-focused fund to launch, following TON Ventures which was launched last August with $40 million in funding. TVM Ventures, however, has an initial funding of $100 million from Yun himself and an undisclosed Toncoin miner.
The fund aims to take the lead position with checks of $500,000 to $1 million for early-stage startups valued between $5 million and $10 million. In addition, TVM Ventures will provide $5 million in farming liquidity to help protocols establish the minimum liquidity needed for their projects.
According to Yun, DeFi projects should be built natively on TON, including smart contract logic written on TVM directly. PayFi projects, while cross-chain by nature, must fully support the TON network.
Four TON-based projects, Factorial, Torch Finance, Fiva, and Memes Labs, have already received investments from TVM Ventures. The fund's goal is to build an advanced and comprehensive financial system capable of meeting the financial needs of 500 million users in the next few years.
While specific details on TVM Ventures' total amount raised or exact portfolio companies within TON have not been found in the provided search results or widely reported recently, it may require checking directly on their official announcements, company website, or trusted crypto/VC news platforms for up-to-date information.
The news about TVM Ventures launching to invest in TON ecosystem startups has set the stage for the expansion of financial systems, as the fund aims to support DeFi and PayFi projects. With an initial funding of $100 million, TVM Ventures plans to build a comprehensive financial system, incorporating advanced technology to cater to the needs of 500 million users.
