Linea LEIA Unveils First Seven Investments to Boost Web3 Innovations
Joerg Hiller Jun 11, 2024 02:06
LEIA announces inaugural investments targeting DeFi, Social, and Gaming sectors.
LEIA's Groundbreaking Investment Announcement
The Linea Ecosystem Investment Alliance (LEIA) has revealed its initial seven investments, marking a significant milestone for the investment syndicate. According to linea.mirror.xyz, LEIA comprises over 50 leading venture capital firms dedicated to supporting startups within the Linea ecosystem, the largest and fastest-growing zkEVM on Ethereum.
Focus Areas and Goals
LEIA, launched in July last year, aims to streamline the fundraising process for startups by investing across various stages and sectors, with a particular emphasis on decentralized finance (DeFi), social applications, and gaming. The alliance not only connects venture capital firms to promising startups but also provides technical support and mentorship to the selected projects.
Kavan Canekeratne, Partner at Draper Dragon, highlighted LEIA’s role in curating investments and aiding in the evaluation of underlying technology. Similarly, Sumeet Surana, Investment Director at Cypher Capital, praised the collaborative efforts with LEIA and Linea in advancing web3 adoption.
Meet the Seven Inaugural Investments
Among the 600 applications submitted, LEIA selected seven standout projects:
Agora: Aims to revolutionize payment and asset infrastructure on blockchain with its stablecoin AUSD, offering a unique, incentive-aligned approach.
CARV: A modular data layer platform for gaming and AI, enabling users to control and monetize their own data. CARV boasts over 2.5 million users and partnerships with 350 companies.
Entangle: Provides a customizable platform for secure, interoperable data handling across blockchains, enhancing decentralized application interoperability.
MYX: Develops a scalable, cost-efficient derivatives protocol with its Matching Pool Mechanism, aiming to become the liquidity hub for decentralized trading.
Tomo: Innovates the web3 SocialFi wallet, allowing users to invest in creators by purchasing Keys on Linea. Tomo has facilitated significant user engagement and transactions on the platform.
ZeroLend: The largest lending market on L2s, focusing on liquid restaking tokens, governance, and real-world asset lending. ZeroLend excels in user acquisition and unique incentive structures.
Inverter: Offers a modular protocol stack for no-code smart contract infrastructure, targeting real-world tokenization use cases and sustainable treasury growth.
Looking Ahead
LEIA continues to seek innovative projects that align with Linea’s vision of empowering communities through decentralized technologies. The alliance encourages builders to join the Linea community and contribute to its growing ecosystem.
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