Bitrabo Editorial
Singaporean venture capital firm, Foresight Ventures, is now accepting applications for the second phase of their accelerator program. This round will be dedicated to Web3 projects in emerging ecosystems. The firm has pledged an additional $10 million for the initiative.
Overview of the Foresight Ventures Web3 Acceleration Program
The accelerator was first launched in November 2022 with an initial investment of $10 million. The focus was on nurturing 30 Web3-based companies. Selected projects received funding between $50,000 to $200,000 to develop their ideas.
The second phase will have enhanced financial support, with each successful project receiving a fixed investment of $200,000. Additionally, they will receive guidance and mentorship from up to three mentors and one fund partner.
The accelerator will be followed by a Demo Day, a platform for participating startups to showcase their accomplishments, progress and potential to a wide audience. This will increase their visibility in the market and attract further support.
Investment Amounts to $20 Million
With the recent pledge of $10 million, the total investment by Foresight Ventures for the Web3 accelerator program is $20 million. This will support the growth and development of Web3 projects in areas such as Zero-Knowledge systems, Artificial Intelligence, Machine Learning, Liquid Staking Derivatives, Bitcoin, and NFTs.
Since its launch in 2020, Foresight Ventures has raised over $400 million in venture capital portfolio asset under management (AUM).
Foresight Ventures Backs a Web3 Game
Foresight Ventures is also backing the launch of a women-centric Web3 game called “HIM”. The game is based on a unique concept, combining Artificial Intelligence and gaming.