Eden Block and Solana Foundation, a blockchain-focused venture capital firm with offices in London and Tel Aviv, today announced the provision of up to 16 million US dollars in funding to advance Solana Ecosystem In Israel.
With this dedicated new fund, Eden Block and Solana Foundation will invest in pre-seed and seed-stage blockchain companies outside of Israel. Prior to this, Eden Block closed its first $30 million investment fund, focusing on pre-seed and seed-stage teams.
In addition, the Solana Foundation recently established a US$20 million investment fund to advance its ecosystem in South Korea, and previously provided US$60 million in funding for similar projects in Brazil, Russia, India, and Ukraine.
The Eden Block investment paper focuses on five areas of decentralized innovation. They are building web3, digital communities, the future of finance, cryptocurrency portals, and bridges to the real world.
Eden Block has a reputation as a unique early partner of disruptive blockchain and encryption platforms, and its investment portfolio includes early investments in Vega, Nym, Biconomy and Pocket Network. The past portfolio company Chainspace was acquired by Facebook as part of its Diem stablecoin project.
“With this new fund, Eden Block intends to actively expand local innovation through one of the fastest growing global crypto ecosystems.”
– Lior Messika, managing partner of Eden Block