"Colosseum, a company that organizes hackathons for the Solana ecosystem, raised $60 million. The company has already distributed $250,000 to 11 different companies. 🎉

The fund, which will focus on making early seed investments in start-ups selected from the winners of the Solana Hackathons, is oversubscribed. 🚀

“There is clearly market demand for new, customized venture products in cryptocurrency, and we are excited to have a diverse group of investors, including ecosystem founders and hackathon alumni,” said Colosseum co-founder Clay Robbins. 😎

Colosseum sees hackathons – events where developers and founders come together to innovate – as a “melting pot” for crypto innovation and company formation. 🧑‍💻

Among the investors, Bonk DAO, a 12-person council of Solana power brokers that manages $124 million worth of the BONK token, said it plans to invest $500,000 in its fund. 💰

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