Blockchain firm Zilliqa’s growth arm launches $5m fund to invest in 15 startups

ZilHive, an ecosystem growth arm of blockchain platform Zilliqa, has launched a strategic annual investment fund of up to US$5 million to invest in companies on the Zilliqa platform.

Photo credit: ZilHive

The fund will invest between US$50,000 to US$500,000 into 15 companies in exchange for equity, tokens, or a combination of both.

This investment will be funneled through two new initiatives in the ZilHive ecosystem – ZilHive Incubator and ZilHive Ventures. The former is a 14-week program that looks to match developers and industry professionals to build innovative blockchain solutions on the Zilliqa protocol. It’s estimated to run from May 4 to August 10 this year.

Meanwhile, ZilHive Ventures will look to focus on developing projects that are built using the Zilliqa protocol.

The best projects that aim to scale and are seeking growth capital for expansion will be referred to Zilliqa Capital, the firm’s recently launched central business and investment hub.

Moving forward, ZilHive will consist of five key initiatives: ZilHive Incubator, ZilHive Accelerator, ZilHive Ventures, ZilHive Grants, and ZilHive Education.

These initiatives will help the unit achieve three key objectives: developing a pool of technical talent to recruit from, providing venture-building programs to assist entrepreneurs at different stages of maturity, and funding ideas.