TON Ventures, launched by former executives of the TON Foundation, initiates a $40 million fund.

Odaily Planet Daily News Former senior members of the $TON Foundation have established a new venture capital firm, The Open Network Ventures ($TON Ventures for short), officially announcing the launch of a $40 million fund aimed at supporting early-stage crypto projects within the $TON ecosystem. $TON Ventures will focus on consumer applications utilizing the Telegram social platform, including Telegram mini-programs. In addition to providing financial support, selected projects will also receive resources such as Telegram advertising, media support, strategic partnerships, and more. $TON Ventures is led by former $TON Accelerator Director Ian Wittkopp and former $TON Foundation gaming lead Inal Kardan. It is worth noting that the $TON core team recently collaborated with Tonkeeper to introduce the W5 smart wallet standard, supporting gas-free transactions on the $TON blockchain, further lowering the barrier for users to enter the $TON ecosystem.