SEI Foundation Announces $50 Million in Funding

Bittime - The SEI Foundation launched the $50 million SEI Japan Ecosystem Fund to support the growth of crypto startups in Japan, with a focus on Web3 gaming, social and entertainment.

Launch of the Sei Japan Ecosystem Fund

The SEI Japan Ecosystem Fund was launched in recognition of the growth of the Japanese crypto startup space and aims to accelerate startup growth on SEI. This venture fund will provide strong support to early-stage startups as well as more established teams looking to scale their operations on Sei Network.

Because SEI V2, the most performant EVM blockchain to date, has the potential to open up new design space for consumer-usable blockchain applications, the fund's initial focus will be on Web3 gaming, social and entertainment use cases.

SEI Foundation Announces $50 Million in Funding

At the inaugural "Sei Web3 Day for Japan", hosted by SEI, Kudasai, New Economy, and CryptoBase in Tokyo on April 27, 2024, the Sei Foundation officially launched the $50 million Japan Ecosystem Fund. More than twenty Japanese companies spoke at this event. 

It serves as a platform to enhance ties with local industry and marks an important step in sustaining Japan's growing Web3 market. SEI's proactive approach supports the growth and expansion of its footprint in Japan's leading companies.

What is the Goal of SEI Funding?

The goal of the SEI Ecosystem Fund is to continue scaling the Sei ecosystem by attracting local talent and finding promising Japanese startups to bring to SEI.

Conclusion

As a strategic step to accelerate the growth of startups in Japan, especially in the fields of Web3 gaming, social and entertainment, the Sei Foundation launched the SEI Japan Ecosystem Fund with funding of $50 million. With strong support from early-stage startups and more established teams, the fund aims to scale the Sei ecosystem. The inaugural event, "Sei Web3 Day for Japan" in Tokyo, marked SEI's commitment to maintaining and growing the Japanese Web3 market.

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