Solana's Colosseum closed a $60 million funding round for its first fund dedicated to developing its accelerator program. This capital will be used for pre-seed investments in teams accepted into Colosseum's Accelerator program. Colosseum is an independent organization focused on growing the Solana ecosystem through various initiatives.

Colosseum has been leading Solana's hackathons since 2024, when the Solana Foundation transferred some of its initiatives to the group. Under the foundation's organization, hackathons have managed to attract more than 60,000 participants through eight programs held since 2020.

Earlier this year, Colosseum held its first hackathon for the Solana Foundation, with 8,000 makers from 95 countries participating. The program received more than 1,000 product applications during a five-week competition.

Most venture capital-backed startups in the Solana ecosystem originated in Solana's hackathons, a spokesperson told Cointelegraph. Over $650 million in venture capital has been raised by startups, with total valuations in the billions.

As of January 2024, there were more than 2,500 monthly active developers in open source repositories in the Solana ecosystem. What do you think about these developments? We are waiting your comments.