According to Foresight News, Layer 1 blockchain aelf has announced the launch of a $50 million venture capital fund called aelf Ventures. The fund is focused on supporting transformative businesses transitioning from Web2 to Web3, making strategic and financial dual-track investments in both startups and mature crypto companies. The areas of investment include, but are not limited to, gaming, DeFi, NFTs, and public products.

aelf Ventures has invested in decentralized Web3 gaming ecosystem Crystal Fun and collaborative entertainment protocol Mythic Protocol. In addition, aelf Ventures has incubated social recovery account abstraction wallet Portkey, cross-chain bridge eBridge, NFT marketplace Forest NFT Marketplace, DEX Awaken Swap, IDO platform EWELL, and casual NFT game BeanGo Town.