OKX Ventures and Aptos Foundation Launch $10M Growth Fund

Facilitating Innovation 

This fund will be used to support various projects through an accelerator program. The program is designed to promote innovation and will start in September. The focus will be on projects using the Aptos blockchain, which utilizes the Move programming language. This language enhances the reliability, usability, and security of on-chain transactions. 

That said, selected projects will receive a range of support, including venture backing, mentorship, market exposure, and access to the extensive networks of OKX, Ankaa, and the Aptos Foundation.  

A panel made up of representatives from these organizations will select five promising projects for the first cohort of the accelerator. Ankaa will be the primary investor and manage the day-to-day operations of the program. 

The initial focus areas for the program include: 

• Infrastructure 

• Decentralized Finance (DeFi) 

• Real-World Assets (RWA) 

• Gaming 

• Social Applications 

• Artificial Intelligence (AI) 

• Other Decentralized Applications (dApps) 

These areas are critical for the advancement of the Aptos ecosystem and Web3 technologies. 

Investing Strategically 

OKX Ventures has been active in the blockchain space for the past two years. They have invested in over 300 projects across five continents, with a fund size of around $1 billion. This partnership with Aptos Foundation is part of OKX Ventures’ commitment to supporting innovative blockchain projects and technologies. Their goal is to create long-term value for the ecosystem. 

Jeff Ren, a partner at OKX Ventures, expressed optimism about the potential of Aptos. He highlighted the Move programming language as a key factor. Ren believes it can revolutionize the creation of secure and efficient smart contracts, especially in the DeFi space. He emphasized the importance of supporting projects that strengthen the core infrastructure of blockchain and Web3. 

Expert Opinions 

Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, praised OKX Ventures’ network and expertise in the Web3 space. Lazaar noted that the partnership aligns perfectly with the vision of the Aptos Foundation. He emphasized the foundation’s commitment to fostering innovation and growth within the Aptos ecosystem. 

Mo Shaikh, CEO of Aptos Labs, also shared his thoughts on the initiative. He believes the joint ecosystem growth fund and accelerator will be crucial in establishing Aptos as a leading Layer 1 blockchain. Shaikh highlighted the program’s potential to showcase use cases and help onboard Web2 developers into the Web3 space. 

Prospects for The Future 

Applications for the Ankaa accelerator program will open in August. OKX Ventures, Aptos Foundation, and Ankaa are encouraging interested developers and projects to reach out. They are eager to explore potential collaborations and provide support to promising projects. 

This initiative marks a significant step in the ongoing development of the Aptos ecosystem and the broader Web3 landscape. The $10 million fund and accelerator program aim to nurture new projects and bring innovative ideas to life.