Gate Ventures, Boon Ventures Launch $20M Web3 Fund

Three firms in the blockchain and tech sector, including Thailand single-family-office Boon Ventures, have teamed up to launch a fund intended to accelerate and drive innovation in the Web3 space.

In an October 24 press release, Gate Ventures, Movement Labs, and Boon Ventures said they have jointly established a $20M fund to be mobilized in four key areas: adoption of Move-based blockchain solutions, security and performance optimization in decentralized networks, Move and EVM interoperability initiatives, and Web3 infrastructure innovations.

In the strategic alliance, blockchain venture investor Gate Ventures will collaborate with Thai family office Boon Ventures and provide access to its network and resources from its Web3 investments to complement the expertise of Move-based blockchain tech platform Movement Labs. The fund plans to organize events such as hackathons, leadership summits, mentorship programs, and research grant programs.

View the press release here.

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