Coinspeaker
P2 Ventures Launches $50M Investment Fund to Support Startups on Polygon
P2 Ventures, a crypto-focused financial investment firm, has launched a $50 million investment fund to support the growth of the Polygon ecosystem, citing a press release. According to the report, the funds will be dedicated to supporting startups building innovative applications on the Polygon chain through a founder’s program known as Hadron Founders Club (Hadron FC). The club, which currently has campuses in both Dubai and New York, was established in March 2024 to help early-stage crypto companies within the Ethereum ecosystem.
36 Crypto Projects Selected to Participate in Hadron FC
Startup companies based on the Polygon ecosystem will have to go through Hadron FC to be considered for the $50 million investment funds. The program is designed to provide the projects with mentorship, legal and regulatory assistance, networking opportunities, and comprehensive support to navigate the complexities of startup development and help them raise capital.
So far, P2 Ventures has selected 36 projects to participate in the Hadron FC program’s initial stage. Some of the chosen project founders will “engage in a week of in-person co-building at the facility in Dubai”.
Shreyansh Singh, head of investments at P2 Ventures, said the investment fund shows the company is confident “in Hadron Club’s unmatched ability to fuel the ambitions of visionary founders within the Polygon ecosystem”.
Polygon Adoption Fund
Meanwhile, the launch of P2 Ventures’ investment funds came when interest in Polygon increased following the market resurgence after two years of massive downturn. The layer-2 scaling solution, designed to improve the scalability challenges of the Ethereum blockchain, has been receiving significant attention from both venture capital firms and asset managers.
In March, a subsidiary of the Japanese banking giant Nomura launched an institutional fund dubbed the Laser Digital Polygon Adoption Fund to offer investors exposure to the Polygon chain.
“We are making Polygon-Matic digital asset investment accessible in the most secure and efficient way for institutional investors,” the company said.
Earlier this month, Polygon caught the interest of asset management company Franklin Templeton. The firm plans to expand its on-chain US government money fund to the network.
Polygon Labs also joined the trend with a $100 million planned fundraising in partnership with Immutable, a blockchain development company.
The fund, which is still in its early stages, is called the Inevitable Games Fund (IGF). So far, the companies have raised $30 million from institutional investors, which, once completed, will be used to support Web3 gaming companies and enhance the ecosystem’s growth.
P2 Ventures Launches $50M Investment Fund to Support Startups on Polygon