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The Skynet EGLD Capital crypto fund focused on the development of the Elrond Network ecosystem has raised over $40 million, representatives of the structure told ForkLog.
According to the press release, Skynet EGLD Capital has received “strategic backing” from the Elrond Foundation, Morningstar Ventures, Spark Digital Capital, Woodstock, Verko and others. The capital was also allocated by Binance Institutional, MEXC, Huobi Global, Kucoin and Bitmart.
The structure provides funding to startups in the Elrond ecosystem, as well as providing them with consulting and other support. A “significant” part of the funds raised has already been invested in projects like Itheum and Maiar Exchange.
The fund is available for subscription on a quarterly basis. In addition to the native tokens of the EGLD blockchain project, Skynet EGLD Capital also accepts USD contributions through its partner Signature Bank NY.
“We have personally supported the Elrond team and their developments from the very beginning. The project is growing rapidly, with new members joining the ecosystem at an unprecedented pace. This is the perfect time to double our commitment and support Elrond,” said Jordi Fien, Founding Partner at Skynet EGLD Capital.
Recall that in March, the Elrond Network project absorbed Twispay, a licensed payment service provider in Romania, which has the right to issue electronic money.
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