Information Technology
Gate Ventures, Movement Labs, and Boon Ventures Launch $20M Fund to Accelerate Web3 Innovation
"This $20 million fund marks a significant milestone in our mission to drive forward-thinking solutions in the Web3 ecosystem," said Kevin Yang , Managing Partner at Gate Ventures. "By collaborating with Movement Labs and other visionary projects, we're paving the way for the future of decentralized technology."
Rushi Manche , Co-Founder of Movement Labs added, "This $20 million fund is a game-changer for the Move ecosystem. It's a powerful validation of what we're building at Movement Labs. Move's capabilities in security and scalability are setting new standards in Web3. This fund will specifically be used to support builders building the future of secure decentralized finance, fully on-chain gaming and consumer, as well as decentralized physical infrastructure efforts."
Teerus Boon-Long, CEO of Boon Ventures said, "This is the beginning of a great journey forward in the Web3 space. It's not aimed at short-term goals but at building a promising future for a decentralized society."
As the fund deploys its $20 million , the partners are committed to fostering innovation and driving the Web3 space forward. They will provide updates on investments, collaborations, and leading-edge technologies that will define the future of Web3, blockchain, and decentralized applications.
Gate Ventures is the venture capital arm of Gate.io , one of the world's largest and most trusted cryptocurrency exchanges, specializing in early-stage investments in blockchain technology and digital assets. Our mission is to drive innovation and foster growth across the global blockchain ecosystem. By collaborating with industry leaders worldwide, we support visionary teams and startups that have the potential to reshape social and financial interactions. As a long-term investor, we are committed to offering comprehensive support to our portfolio companies, from product development and operational scaling to global expansion. Follow Gate Ventures on X for more updates.
Movement Labs develops the Movement Network, an ecosystem of Modular Move-Based Blockchains. The company is creating the first Move Virtual Machine L2 for Ethereum, along with open-source tools to promote Move adoption across blockchains. Their platform enables developers to launch high-performance Move VM rollups easily, bridging Move and EVM ecosystems. Backed by
$38 million in Series A funding, Movement Labs is advancing Move-based technologies and blockchain interoperability in Web3. Follow Movement Labs on
X and on
Discord for updates.Movement Labs is on a mission to create a global community of Move builders, working together to increase the security, performance, and user experience of building in decentralized networks.
Boon Ventures is a single-family office spun out of the Boon-Long family, one of the longest-established families in Thailand , in 2015. Since then, it has served as the alternative investment and advisory arm of the Boon-Long family. Boon Ventures is an independent, fast-moving organization with a strong network and partnerships both in Thailand and globally, driven by a mission to foster innovative change, long-term growth, and sustainable value.
View original content: https://www.prnewswire.co.uk/news-releases/gate-ventures-movement-labs-and-boon-ventures-launch-20m-fund-to-accelerate-web3-innovation-302274524.html