Skynet Capital Raises $40 Million USD to Invest in the Elrond Ecosystem

Skynet Capital raises more than $40 million USD to invest in the Elrond ecosystem

Skynet EGLD Capital, the first licenced fund to take in-kind contributions in the Elrond Network blockchain's native currency EGLD, has raised over USD 40 million to boost the Elrond ecosystem.

Skynet Capital was founded by the creators of Skynet Trading, algorithmic trading software and consultancy business that built its holdings to a daily turnover of over $100 million in less than three years. They will combine their experience and skills with the resources and technologies at their disposal to help the Elrond Network ecosystem expand faster.

Jordy Fiene, Founding Partner at Skynet EGLD Capital, said:

The network is rapidly maturing and new waves of builders are joining the ecosystem at an unprecedented pace. This is the perfect time to double-down on our commitment and support Elrond’s  journey.

Through strategic partnerships with Elrond Foundation and Morningstar Ventures in addition to Spark Digital Capital, Woodstock and Verko, Skynet EGLD Capital plans to support startups in the Elrond ecosystem by providing capital, advisory services, and facilitating access to new markets and high-value collaborations.

Besides its investors, the fund is supported by Binance Institutional, MEXC, Huobi Global, Kucoin, and Bitmart, all of whom work together to promote the Elrond ecosystem's growth.

 Beniamin Mincu, Elrond Network Co-Founder and CEO said:

Powerful verticals such as Web3 payments, DeFi 2.0 and the Metaverse are joined by strong support from our strategic backers and partners, to form a nexus of forces that will drive the next superwave of growth for the Elrond ecosystem.

Every quarter, Skynet EGLD Capital opens up new EGLD subscribers. Signature Bank New York, the fund's long-term financial partner, also allows institutional investors, family offices, and high-net-worth individuals (HNWI) to invest in a diversified portfolio.

In less than two weeks, the whole $40+ million was raised. Further, investments have been made in Elrond initiatives like Itheum, delegations to verified Elrond Network staking providers, and balanced holdings in Maiar Exchange have already taken place.

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Source: https://elrond.com/blog/elrond-licensed-fund-skynet-egld-capital/