On May 24, Singaporean venture capital firm Foresight Ventures announced that it would commit an additional $10 million to its Foresight X accelerator, bringing the total to $20 million. The move comes as the company opens the second phase of acceleration requests, which will focus on Web3 projects in the ecosystems of artificial intelligence (AI), zero knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives and non-fungible tokens.
Previously, Foresight committed $10 million to its accelerator, which launched last November. In its first phase, Foresight focused on 30 companies in its Web3 project group, providing an investment of between $50,000 and $200,000. As the accelerator moves into its second phase, Foresight will allocate $200,000 to each selected project and assign up to three mentors and one funding partner from the venture capital firm to provide hands-on guidance. A Demo Day will also be held at the end of the program.
