The Serum Ecosystem Development Fund has raised $75 million
The Incentive Ecosystem Foundation, a community-managed Project Serum fund, has raised $75 million in a new funding round with a goal of $100 million. Serum is a decentralized exchange and Solana-based liquidity infrastructure.
Tiger Global, Commonwealth Asset Management, Tagus Capital, Golden Tree Asset Management took part in the round.
The Fund plans to develop the Serum ecosystem with fresh capital. Fifteen percent of the funds, or $15 million, will be allocated for these purposes, JHL said in a statement.
The Ecosystem Foundation plans to support future Serum projects in areas such as DeFi, NFT and games. The Foundation also plans to offer such projects business development assistance and marketing support.
According to JHL, the rest of the capital will be used for Project Serum development initiatives, such as holding hackathons and hiring employees.
