Skynet EGLD Capital, the first licensed fund that accepts in-kind subscriptions on Elrond, recently concluded its fundraising round. The venture gathered over 40 million dollars to support the development of Elrond.
The market considers Skynet EGLD Capital as the brainchild of Skynet Trading’s founders, the firm that boosted its portfolio by over 100 million dollars within three years. The team from Skynet Trading will share its expertise and knowledge and the required resources to boost Elrond’s growth.
Jordy Fiene, Skynet EGLD Capital’s Founding Partner, commented on the recent development. According to Jordy, Skynet EGLD Capital has been a strong supporter of the Elrond Network and the product they have been creating for years. As the network is gradually growing, new developers are joining the ecosystem, and that is why it is the perfect time to support the Elrond Network towards its optimal state.
Names like Spark Digital Capital, Elrond Foundation, Morningstar Ventures, Verko, Woodstock, etc., are backing the project. Their support will help Skynet EGLD Capital to focus on helping emerging projects in terms of market access, capital, and consultation,
Besides these renowned names, the fund has also gained the support of MEXC, Binance Institutional, Bitmart, Kucoin, and Huobi Global, who also aim to assist the Elrond Network.
Beniamin Mincu, Co-Founder and CEO of the Elrond Network, also talked about the fund establishment. Mincu stated that the fully regulated fund would help Web3 innovators find vast opportunities to gain liquid capital. In addition, Skynet EGLD Capital will help them find the shortest possible path to reach sustainable development in the Elrond ecosystem.