The fund will support protocols targeting the Move programming language and interoperability with the Ethereum ecosystem.
Venture capital firms Gate Ventures and Boon Ventures announced a partnership with Movement Labs for a new $20 million fund dedicated to Web3 startups.
According to an Oct. 13 announcement, the fund targets the development of Move-based protocols, especially projects bridging the Move network with Ethereum-compatible (EVM) applications.
“The fund will invest across a range of Web3 verticals within the Move ecosystem,” a spokesperson for Gate Ventures, the investment arm of crypto exchange Gate.io, told Cointelegraph.
