Former TON Foundation member founded TON Ventures with an initial scale of US$40 million

According to BlockBeats, on August 14, The Block reported that 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 director of games 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.