Ex-TON Foundation President Launches $100 Million Venture Fund for TON Ecosystem
Steve Yun, former president of the TON Foundation, launched a $100 million venture fund named TVM Ventures to boost the TON ecosystem, focusing on decentralized finance (DeFi) and payment finance (PayFi).
- Capital includes contributions from an anonymous Toncoin miner.
- TVM Ventures aims to support early-stage projects building on The Open Network (TON), integrated with Telegram.
- The fund prioritizes startups developing DeFi protocols, payment solutions, and blockchain tools.
- Yun's goal is to create a comprehensive financial system for 500 million users in the coming years.
- In addition to funding, the initiative provides strategic guidance and access to a network of TON investors.
- Investments will target early-stage startups valued between $5 million and $10 million.
- TVM Ventures will allocate $5 million for "farming liquidity" to establish minimum liquidity for DeFi protocols.
- Liquidity is essential for trading, lending, and borrowing activities within DeFi.
- The fund has already invested in four projects: Factorial, Torch Finance, Fiva, and Memes Lab.