Solana Launches $100m Investment and Grant Fund for South Korean Web3 Startups

Solana Ventures and Solana Foundation have set up a $100 million investment and grant fund to deploy capital into South Korean web3 startups, Johnny Lee, general manager of games at Solana Labs, told TechCrunch. The fund will focus on gaming studios, GameFi, NFTs and DeFi in South Korea. The fund is backed by capital from the Solana community treasury in addition to the venture arm’s pool of capital.