DCG leads $205M growth fund for The GraphBy Cointelegraph (contrib. Fatstack)
Blockchain data indexing protocol The Graph has launched a $205 million ecosystem fund to lure new developers to its platform, offering further evidence that venture capital firms were still keen to support growth funds centered around decentralized applications.
The ecosystem fund was financed by Digital Currency Group, Multicoin Capital, Reciprocal Ventures, Gumi Cryptos Capital, NCG and HashKey. The fund’s stated purpose is to accelerate the growth and development of key projects in The Graph’s ecosystem.
HashKey Capital managing director Deng Chao said the company will provide resources and guidance to decentralized application developers and projects looking to gain access to institutional markets. Digital Currency Group, better known as DCG, already serves as a delegator for The Graph and will further support the ecosystem’s development around decentralized finance and the Metaverse.
Miko Matsumura of Gumi Cryptos Capital described The Graph as “an essential part of the Web3 stack,” . . .