Singapore-based blockchain firm Aelf launches $50m fund

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Aelf, a Singapore-based blockchain firm, has launched a US$50 million investment fund to back various blockchain projects.

Called Aelf Ventures, the fund aims to discover investment opportunities within the Web3 sector, particularly focusing on “high-performance” Layer-1 blockchain projects.

A Layer-1 blockchain is the base network of a platform that validates and finalizes transactions. Some common examples of Layer-1 blockchains include Ethereum, bitcoin, Solana, and BNB Chain.

Aelf said it is using a “vertical and stage-agnostic” approach, looking for firms addressing needs in the gaming, DeFi, and NFT spaces, among others.

It will also concentrate on projects that are looking to shift from Web2 to Web3, as well as blockchain projects within both the Aelf and multichain ecosystems.

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Founded in 2017, Aelf offers tools for developing smart contracts and decentralized apps on its blockchain platform. Its tools include a mainnet, a public testnet, and developer tools such as a blockchain explorer, wallets, and multilanguage SDKs.

Aelf Ventures has already made investments in projects like Crystal Fun and Mythic Protocol and is incubating others like Portkey, eBridge, Forest NFT Marketplace, Awaken Swap, EWell, and BeanGo Town.