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The Core Foundation Launches Core Venture Network to Support Web3 Development
The Core Foundation announced the launch of the Core Venture Network (CVN), a community comprising over 50 venture capitalists and investors dedicated to fostering the advancement of Core Chain, a blockchain secured by Bitcoin and compatible with the Ethereum Virtual Machine.
The CVN revealed its commitment of $15 million in regional ecosystem funds to support projects in Africa, Latin America, and Southeast Asia. Notably, the Core Africa Innovation Fund, amounting to $5 million, was the inaugural regional fund introduced in January.
“We have deliberately directed our funding efforts towards areas deeply immersed in Web3 principles and poised to benefit significantly from them—regions where the integration of decentralized finance can herald transformative changes and where digital communication is deeply entrenched in societal norms,” stated Core contributor Brendon Sedo in the official announcement. “Our goal is to concentrate our resources where they can make the most notable impact, both for our platform and the entrepreneurs we back.”
Members of the Core Venture Network are granted access to early-stage investment opportunities in upcoming Core Chain projects. They may also avail themselves of co-marketing collaborations, event participation, and involvement in leadership panels within the Core DAO Alliance.
Beyond financial support, the CVN seeks to offer mentorship, guidance, assistance with forging partnerships, and the potential for co-investment from the $200 million Core Chain Ecosystem Fund established in collaboration with cryptocurrency exchanges Bitget and MEXC.
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