China Merchants Bank and Nervos Foundation launch blockchain fund with $50 million in assets

CMB International, the financial arm of China Merchants Bank, and the Nervos Foundation, based in China, launched the blockchain fund InNervation with $50 million in assets.

? BIG NEWS

Nervos has partnered with CMBI to launch #InNervation, a $50M fund for early and growth-stage startups building dApps, #DeFi protocols, #NFT marketplaces, and more blockchain solutions ?

Find out what this means for the Nervos Network ? https://t.co/luzxUvuvk6 pic.twitter.com/4BKSqxIWIS

— Nervos (@NervosNetwork) May 19, 2021

Over the next three years, the fund will invest in a range of projects, including DeFi protocols and NFT marketplaces leveraging Nervos technology. The investment per project will range from $200,000 to $2 million.

CMB International and the Nervos Foundation will also provide projects with access to Nervos infrastructure components, including a decentralized exchange, the Ethereum solution Polyjuice, and the open rollup framework Godwoken.

Earlier Multicoin Capital launched a DeFi- and NFT-focused fund with assets of $100 million.

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