[CertiK announces the establishment of CertiK Ventures to promote blockchain development]
CertiK, a well-known blockchain security solutions company, announced the launch of CertiK Ventures to support emerging on-chain platforms. CertiK Ventures will focus on advancing security-first projects, participating in venture capital (VC) rounds and building ecosystem partnerships.
Jason Jiang, Chief Business Officer at CertiK, commented on the importance of this initiative and its impact on Web3: "The launch of CertiK Ventures is an important part of our mission to secure a Web3 world. By combining our years of expertise in the blockchain security industry and With strategic investments, we aim to accelerate the growth of innovative projects that will shape the future of the industry.”
CertiK Ventures' portfolio includes companies such as Pantera, LINE, Sei, Hashkey Capital, WEMIX, Dora Hacks, Meta Era, Playbux, Shima Capital, SevenX Ventures, Borderless Capital and Ling Feng Capital. CertiK Ventures will leverage CertiK’s blockchain security expertise to provide its portfolio companies with resources and expertise aimed at supporting the “development and deployment” of blockchain technology.
In an exchange with Cointelegraph, a CertiK spokesperson spoke about the challenges ahead: “The main challenge is the fluctuation of market dynamics in the crypto industry. However, our experience in multiple market cycles allows us to effectively deal with these fluctuations and Take advantage of favorable conditions.”
Founded in 2018, CertiK focuses on blockchain security and has attracted several technology investors including Sequoia Capital, Goldman Sachs, Tiger Global Management and Insight Partners. CertiK has detected over 60,000 vulnerabilities, including the recent $5 million Wormhole security flaw caused by a "critical vulnerability" in an open source multi-chain bridge. The blockchain security company has also secured over $380 billion in digital assets, working with over 4,500 well-known blockchain projects including Ripple, Polygon, TON, BNB Chain, Sandbox, and Aptos.
Speaking about how CertiK reduces centralization risks and prioritizes decentralization across its portfolio companies, a CertiK spokesperson said: “In our work […] we understand what is necessary to succeed in Web3.We also know that the reason projects end before they begin is often due to insufficient security, which is often caused by and exploited by centralization. We prioritize platforms with meaningful security and decentralization measures in place. "
CertiK's move to support blockchain development reflects a broader discourse in the industry, which is still in a "very early" stage according to Luis Ocegueda, director of engineering at Trust Wallet. In an interview with Cointelegraph, Ocegueda explained that the technology underpinning blockchain is still in development but has not yet been translated into “a unified product or a unified experience.”
