Techub News reported that according to CoinDesk, Colosseum, an accelerator focusing on the Solana ecosystem, has raised $60 million to invest in early-stage projects. The company has deployed $250,000 to 11 different companies.

The fund is oversubscribed and will focus on investing in the Pre-Seed stage of startups selected by the winners of the Solana hackathon. Colosseum provides an innovative platform for developers and founders by organizing hackathons to promote the establishment of companies and technological progress in the crypto space. Colosseum co-founder Clay Robbins said that the market needs new and professional crypto venture capital products, and many investors recognize the potential of the Solana ecosystem. Colosseum's hackathon event aims to provide global developers with a fair chance to compete and promote the development of crypto products and the establishment of blockchain startups.