Arrington Capital Launches $100 Mln Fund to Finance Moonbeam Ecosystem

Investment firm Arrington Capital has set up a $100 mln fund for Moonbeam, one of Polkadot's parachains. The fund, created in conjunction with the Moonbeam Foundation and called the Arrington Moonbeam Growth Fund, will be used to support companies and protocols using the Moonbeam network.

The Fund will support various projects working in areas such as decentralized finance, marketplaces, non-fungible tokens, gaming. While it has been announced that the Arrington Moonbeam Growth Fund has already supported two projects, the names of those projects have not been disclosed.

Moonbeam contains 100 projects, including those already implemented or being prepared for implementation. Since January 2022, over 6.5 mln transactions have been made on the network and over 5,000 smart contracts have been written. Moonbeam provides blockchain developers with the necessary capabilities to create decentralized applications that can be used on different blockchains at the same time.

Image: Asia Crypto Today