Singapore blockchain firm Zilliqa launches $5m fund to back startups

Photo: Hitesh Choudhary/Unsplash

Singapore-based blockchain platform Zilliqa announced on Thursday the launch of a strategic annual investment fund to invest up to $5 million in 15 companies building on its platform.

The investment will be funnelled through the ZILHive Incubator and ZILHive Ventures initiatives of Zilliqa’s ecosystem growth arm ZILHive. These two initiatives serve to supplement the $5 million already committed to grants, accelerators, and education initiatives in 2018, ZILHive said.

“ZILHive has always had big ambitions: to drive more open and inclusive finance and commerce gateways for communities and companies worldwide, and power the Web 3.0 era. We have now doubled our investment into high-potential startups and initiatives in service this goal: guiding entrepreneurs from right from the drawing board, seeding and nurturing them to become not merely a blockchain success story, but provide truly useful applications for people,” Zilliqa senior vice president of Ecosystem Development Han Wen Chua said. 

Aimed at budding tech talent and entrepreneurs, the ZILHive Incubator is a 14-week programme that looks to match the  developers and industry professionals as they build innovative blockchain solutions on the Zilliqa protocol. 

Selected participants will have the opportunity to showcase their projects to potential investors and industry partners at Zilliqa’s annual town hall event in August this year. 

Meanwhile, to support more mature projects, ZILHive Ventures will look to focus on developing projects that are built using the Zilliqa protocol. The $5 million fund will invest between $50,000 to $500,000 into promising companies in exchange for equity, tokens, or a combination of both.

The fund aims to invest in 15 companies annually from around the world. The best projects hoping to further scale and seeking growth capital for expansion will be referred to Zilliqa Capital, the recently launched central business and investment hub aimed at investing in decentralised and fintech solutions to grow Southeast Asia’s fintech and emerging tech ecosystem.

Founded in 2017, Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications. Zilliqa addresses limitations in scalability and security, enabling real-world usability across a variety of industries, including finance, digital advertising, and gaming.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.