Former TON Foundation member established TON Ventures with an initial fund size of US$40 million

PANews reported on August 14 that according to The Block, former TON Foundation members Ian Wittkopp and Inal Kardan founded TON Ventures and launched the first fund worth $40 million. The fund aims to support projects based on the TON blockchain. Wittkopp and Kardan served as director of TON Accelerator and game director respectively. TON Ventures mainly invests in start-up projects within the TON ecosystem, focusing on decentralized finance, games, advertising/marketing and regulated financial products.

Wittkopp said TON Ventures has supported more than a dozen startups including Catizen, Tradoor and Evaa Protocol. The fund's average investment is $500,000 or less, but it will also participate in late-stage "strategic" transactions such as large agreements. The fund is expected to be fully deployed within a year.