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Cardano Stablecoin Issuer COTI To Launch $10M Ecosystem Fund

By:
Aaryamann Shrivastava
Updated: Mar 22, 2022, 14:19 UTC

Beyond funding the projects, COTI Ventures will also be advising the team and assisting the founding teams in achieving their objective.

Cardano Stablecoin Issuer COTI To Launch $10M Ecosystem Fund

In this article:

Key Insights:

  • COTI has launched its investment fund COTI Ventures.
  • Through the fund, COTI ecosystem-based projects will be receiving support.
  • COTI Ventures has already made two investments as of today.

In an announcement today, the issuer of the Cardano stablecoin ‘Djed’, COTI, introduced the foundation of the COTI ecosystem fund – COTI Ventures.

The investment fund will be the next step in expanding the COTI ecosystem by onboarding developers using the $10 million funding set aside for the same.

COTI Ventures Begins Investment

Having already invested in two projects on the Cardano blockchain, COTI Ventures will be investing as well as capitalizing on the ‘upside opportunities’ in the COTI ecosystem. 

Using the $10 million, COTI Ventures will be investing in equities, tokens, and other forms of capital in the early stages of the projects, building solutions for the ecosystem. 

But the investment will not be random as the fund is focusing on experienced founding teams with a strong business plan to develop a solid product that can be deployed into the market. 

Leading this venture will be COTI’s Chief Financial Officer, Yair Lavi, and a team of analysts and researchers.

Commenting on COTI ventures, Lavi stated,

“In the past few months we’ve seen numerous funds and multinational organizations like a16z, Sequoia, Bessemer and Bain setting up dedicated web3 and blockchain funds, as they believe blockchain technology and the new web3 economy will take a major place in our life in the near future. We’re excited to join them and others in partnering with the most talented founders forging this new future.”

Apart from making the initial investment, the fund will also advise on the projects and support the founding teams to help them achieve their business plans.

As of now, COTI Ventures has already invested in two major Cardano projects. The first investment was made in WingRiders, a Cardano-based decentralized exchange (DEX).

The second investment was in another Cardano DEX, AdaSwap, which managed to raise $2.6 million in funding from investors, including Gal Gadot.

The Growth of Investment Ventures

While COTI is joining this list now, many others have already set a footing in this department. One such venture was Singapore-based DeFi service and application provider Cake DeFi.

The platform launched Cake DeFi Ventures with $100 million earmarked in capital to invest in NFTs, Metaverse, and other Web3 projects.

COTI’s token, on the other hand, has been making some stellar growth in its price movement by rising over 14.93% in these last seven days to trade at $0.2198 at press time.

COTI price is up by almost 15% this week

About the Author

Holding a Mass Media Degree has enabled me to better understand the nitty-gritty of being a journalist and writing about cryptocurrencies’ news and price movements, effects of market developments, and the butterfly effect of individual assets nurtured me into a better investor as well.

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