Colosseum raises $60 million to invest in winners of Solana hackathon program

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Cointime2024/06/25 13:34

By:Cointime

Venture-capital fund Colosseum has raised $60 million to invest in select winners of Solana's hackathon program, with the aim of profiting from the blockchain's outsourced engineering and product-design competitions and attracting new developers. The fund will make pre-seed investments in winning Solana-based projects that enter a five-week accelerator program. Colosseum's combined programming and investments aim to support early-stage projects during a funding drought and expand the Solana ecosystem. Over 60,000 individuals have participated in Solana's hackathons, with projects raising over $600 million, including winners Ore, Banger.lol, and a Solana client that boosts transaction capacity and yield.

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