Israel is establishing itself as highly fertile soil for elite web3 entrepreneurs, developers, and researchers. As of December 2019, 150 blockchain companies are operating in Israel, which is a 32% increase from the previous year…
Eden Block, a blockchain-focused VC firm with offices in London and Tel-Aviv, and the Solana Foundation today announced a funding effort of up to $16 million to advance the Solana ecosystem in Israel.
With this specialized new fund, Eden Block and the Solana Foundation will invest in pre-seed and seed-stage blockchain companies out of Israel. This follows the closing of Eden Block’s first $30 million investment fund, focused on pre-seed and seed-stage teams.
Besides, the Solana Foundation recently set up a $20 million investment fund to advance its ecosystem in Korea and a previous $60 million in funding for similar projects in Brazil, Russia, India, and Ukraine.
The Eden Block investment thesis targets five areas of decentralized innovation. These are building web3, digital communities, the future of finance, gateways to crypto, and bridges to the real world.
Eden Block has a reputation as a unique early partner for disruptive blockchain and crypto platforms, with a portfolio that includes early investments in Vega, Nym, Biconomy, and Pocket Network. A past portfolio company, Chainspace, was acquired by Facebook as part of their Diem stablecoin project.
“With this new fund, Eden Block intends to aggressively scale local innovation through one of the fastest-growing, global ecosystems in crypto.”
– Lior Messika, Managing Partner of Eden Block