Polygon has entered a partnership with AU21 to launch a fund for supporting startups in the Polygon ecosystem. The $21M fund will help small teams and startups build better on Polygon blockchain.
The final result will be more products and features on Polygon that ultimately helps grow the community. AU21 is a strategic partner for Polygon in this fund. The company has invested in many of the biggest crypto exchanges in the industry.
More Opportunity to Grow on Polygon
Funding startups on blockchains is crucial for growing the community around them. It’s the reason many major blockchains launch funds to help small teams. Polygon has experienced considerable growth in the last months now plans to grow more with the help of small teams.
When these teams have access to enough money, they can focus more on their ideas and ultimately make attractive products on the blockchain. The $21M AU21 Polygon Ecosystem Fund is now announced to help startups on the blockchain.
AU21 is one of the most famous venture capitalists in the crypto industry. The firm has invested in big crypto exchanges like Binance, Huobi, OKEx, and Gate.io. The fund will be paid to teams and startups that focus on Polygon. They should use Polygon features and tools for building decentralized applications. The fund will be paid to teams for various use-cases. They can use the money for business development, marketing, and human capital initiatives.
The $21M AU21 Polygon Ecosystem Fund has already started investing in some Polygon products. Polystarter is one of the investments receiving products. It’s a Polygon-first launchpad.
One of the main reasons Polygon has grown very fast and is successful in attracting teams is the support for Ethereum projects. Alexi Nedeltchev, Manager of the AU21 Polygon Ecosystem Fund, said:
“We decided to back Polygon-based projects in particular for two main reasons. First, Polygon’s coordination with Ethereum allows us to capture an already active ecosystem. Second, Polygon’s exceptional development potential has already been realized through a number of partnerships with top DeFi protocols, creating an important framework for future development on Polygon’s infrastructure.”
Teams and startups that want to find investment from the AU21 fund should submit their pitch decks and other documents on the AU21 website. AU21 execs will review the projects with the help of Polygon experts and invest in startups that have more potential for creating practical products on Polygon.
AU21 has invested in some other major blockchain projects like Polkadot, Graph, Casper Labs, Covalent, Cere, and Elrond. The new partnership shows their serious plans for supporting potential blockchain projects.
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