By Cryptonew.org 
Former TON Foundation Executives Launch $40M TON Ventures Fund
In a significant development within the blockchain industry, former executives of the Telegram Open Network (TON) Foundation have announced the launch of TON Ventures, a new venture fund with $40 million in capital. This fund aims to bolster the blockchain ecosystem by investing in promising projects and technologies, marking a strategic shift from their previous roles at the foundation.
The TON Foundation, originally founded by Telegram, sought to create a decentralized platform for various blockchain-based applications. Despite its promising vision, the project faced significant regulatory hurdles, leading to Telegram abandoning the project in 2020. This resulted in the open-source community taking over the development of the project, which continued under the name The Open Network (TON).
Former executives from the foundation have now transitioned into a new venture, TON Ventures, to leverage their expertise and network within the blockchain sector. This move signals a renewed focus on fostering innovation and supporting the next generation of blockchain projects.
TON Ventures is led by key figures from the original TON Foundation, including notable names such as Alexander Filatov and Andrew Rogozov. With a fund size of $40 million, TON Ventures is poised to make strategic investments in blockchain technologies that demonstrate strong potential for growth and innovation.
The fund will focus on early-stage investments, targeting projects that align with its vision of enhancing blockchain utility and adoption. By providing capital and strategic guidance, TON Ventures aims to nurture startups that can significantly impact the blockchain landscape.
The primary goal of TON Ventures is to identify and invest in projects that have the potential to revolutionize the blockchain industry. The fund is particularly interested in projects related to decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 technologies. By focusing on these areas, TON Ventures hopes to drive innovation and contribute to the broader adoption of blockchain solutions.
In addition to financial support, TON Ventures plans to offer strategic advice and mentorship to its portfolio companies, leveraging the extensive experience of its executives. This holistic approach is designed to help startups overcome challenges and accelerate their growth trajectories.
The launch of TON Ventures comes at a time when the blockchain and crypto industry is experiencing rapid growth and transformation. With an increasing number of projects entering the space, there is a pressing need for investment and guidance to ensure their success. TON Ventures positions itself as a key player in this landscape, providing much-needed capital and expertise.
Compared to other venture funds, TON Ventures offers a unique value proposition due to its deep understanding of the blockchain ecosystem and its strong connections within the industry. This positions the fund to identify high-potential projects that might otherwise be overlooked.