JAKARTA The blockchain-based cross-border payment company giant Ripple is reportedly participating in funding the next generation of internet infrastructure development, Web3. Ripple is the main participant in funding US$40 million (Rp596 billion) for Dispersion Capital.
This information was conveyed by Dispersion Capital. The plan is that the funding will be used to improve the Web3 ecosystem, which has experienced significant developments in recent years.
For your information only, Dispersion Capital is an early-stage venture capital firm that focuses on investing in decentralized technology development. Decentralization is a key principle in Web3. Until now Dispersion Capital has succeeded in funding around 20 Web3 companies. Not only that, but these companies received additional funding injections after receiving early-stage investments.
According to a U.Today report, Patrick Chang as the founder and managing partner of Dispersion Capital received praise for his ability to identify promising talent for the Web3 industry.
Previously, Chang led blockchain investment in Samsung Next. Circle Ventures acknowledged this skill and experience, which is also a participant in this funding. Circle Ventures emphasizes the focus of Dispersion Capital in overcoming the infrastructure gap and supporting developers in the web3 ecosystem.
| TEKNOLOGI 22 Mei 2023, 20:08
The main goal of Dispersion Capital is to be a catalyst in the development of functional, scalable, and accessible decentralized applications. However, there are currently still questions about the extent of web 3 infrastructure maturity and the success of the next generation of web implementation.
Circle Ventures welcomes Dispersion Capital's efforts and is enthusiastic to see the impact this company will have on the web3 ecosystem.
On the other hand, Disepersion Capital not only gets an injection of funds from Ripple but also from other leading companies such as Faction, Lightspeed, Wemade, Alchemy Ventures, Hashkey, Forte, and so on.
Of course, this shows great support from various parties, especially for the development of web3 infrastructure. The participants in this funding believe that through the right investment, they can help fill the infrastructure gap and encourage the progress of decentralized applications in the future.
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