Bitcoin-Backed Core Chain Reveals $15 Million in Funding for Builders

The Core Foundation announced Thursday that it has launched the Core Venture Network (CVN), a community of over 50 venture capitalists and investors supporting the development of Core Chain, a Bitcoin-secured, Ethereum Virtual Machine-compatible blockchain.

The CVN announced $15 million in regional ecosystem funds for projects based in Africa, Latin America, and Southeast Asia. The $5 million Core Africa Innovation Fund was the first regional fund launched back in January.

"We've made an effort to focus funding on the regions most dedicated to Web3 and impacted by its benefits—regions where access to decentralized finance can completely change a life's trajectory or where digital communication is deeply ingrained in the culture," Core contributor Brendon Sedo said in the release. "We want to focus our efforts where they are the most impactful, both for our platform and the entrepreneurs we are investing in."

Venture capitalists who join the Core Venture Network can earn access to pre-seed and pre-token opportunities on upcoming Core Chain projects. Members may also receive co-marketing opportunities, access to events, and inclusion in the Core DAO Alliance leader panels.

In addition to funding, the CVN aims to provide mentorship, coaching, partnership facilitation, and potential co-investment from the $200 million Core Chain Ecosystem Fund launched with crypto exchanges Bitget and MEXC.

Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.