Trending...
- Orchard Audio's New PecanPi®+ DAC and Streamer Feature AKM's Latest Flagship Chips
- Aquia Inc. Joins the AWS Partner Network and the AWS Public Sector Partner Program
- Mercy Street to Host the Largest Opening Day Event in the Organization's 20 Year History
The venture capital firm joins dozens of other investors in new Layer 1 project
SAN FRANCISCO - AkGlobe -- Today, Shima Capital is delighted to announce its investment in Monad Labs, which is building a new Ethereum Virtual Machine (EVM)-compatible smart contract platform. Shima Capital, a web3 venture capital firm founded by Yida Gao, contributed to the $19 million seed funding round that was led by Dragonfly Capital, with additional contributions from Placeholder Capital, Lemniscap, Finality Capital, and angel investor Naval Ravikant.
Monad is a Layer 1 EVM-compatible blockchain that is rethinking what can currently be done on EVM chains, including Ethereum itself. Keone Hon, co-founder and CEO of Monad Labs, told TechCrunch, "We're ultimately building a platform to optimize both consensus and execution […] which ultimately results in a system that can process a billion transactions per day and 10,000 transactions per second."
"The world of web3 is ready and waiting for a platform to replace Ethereum's high costs and low throughput," said Yida Gao, who is also Managing General Partner at Shima Capital. "We believe Monad can be that platform by re-imagining the EVM with lower fees, higher speeds, and more complex app integrations. Keone and the entire Monad Labs team are well positioned to tackle this issue."
More on AkGlobe News
Monad Labs is the team that supports Monad the blockchain, and with help from his own team, Yida Gao is excited to continue supporting Monad Labs as they navigate new territory in the quest to unseat Ethereum as the unquestioned leader in decentralized applications. Shima Capital adds value for portfolio companies by advising on technology, token economics, marketing, and by making further introductions to their vast network of partners.
For more on Shima Capital, visit www.shima.capital. For more on Monad, visit www.monad.xyz.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/
Monad is a Layer 1 EVM-compatible blockchain that is rethinking what can currently be done on EVM chains, including Ethereum itself. Keone Hon, co-founder and CEO of Monad Labs, told TechCrunch, "We're ultimately building a platform to optimize both consensus and execution […] which ultimately results in a system that can process a billion transactions per day and 10,000 transactions per second."
"The world of web3 is ready and waiting for a platform to replace Ethereum's high costs and low throughput," said Yida Gao, who is also Managing General Partner at Shima Capital. "We believe Monad can be that platform by re-imagining the EVM with lower fees, higher speeds, and more complex app integrations. Keone and the entire Monad Labs team are well positioned to tackle this issue."
More on AkGlobe News
- Waterleaf International, LLC Announces Hiring of Chief Sales Officer
- EVERWILD Returns To Legend Valley With Lineup Featuring Pepper, Bone Thugs-N-Harmony, and host band Tropidelic
- World's First AI-Generated Satirical News Website Launches, Outperforms Humans in Humor and Intelligence
- Genie Script: 20 Word Script by Wesley Virgin
- Jake Paul Teams Up with The Berman Team, Sponsored by Berman Law Group for charity event supporting Boxing Bullies
Monad Labs is the team that supports Monad the blockchain, and with help from his own team, Yida Gao is excited to continue supporting Monad Labs as they navigate new territory in the quest to unseat Ethereum as the unquestioned leader in decentralized applications. Shima Capital adds value for portfolio companies by advising on technology, token economics, marketing, and by making further introductions to their vast network of partners.
For more on Shima Capital, visit www.shima.capital. For more on Monad, visit www.monad.xyz.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/
Source: Shima Capital
0 Comments
Latest on AkGlobe News
- Orbex Introduces Double Profits for New Traders
- Quotehunt.co.uk: Revolutionising the UK B2B Market with Comprehensive Comparison Services for Small Businesses
- Dr. Kelli Ward and Martha Boneta Fain join the advisory board of Legacy PAC , a partner of Veterans for Trump
- 2023 Employee Handbook Templates Now Available
- Mercy Street to Host the Largest Opening Day Event in the Organization's 20 Year History
- The Nashville International Chopin Piano Competition Announces the Alexei Sultanov Memorial Discovery Prize
- Kobie Voted a Top Workplace USA
- Aquia Inc. Joins the AWS Partner Network and the AWS Public Sector Partner Program
- Perfect Body Laser and Aesthetics ® Offers Tetra CoolPeel Co2 Laser Skin Resurfacing
- Databloom's Blossom Achieves Faster and More Efficient Big Data Analytics
- Orchard Audio's New PecanPi®+ DAC and Streamer Feature AKM's Latest Flagship Chips
- Country Artist Ashley Wineland to Release Poignant Ballad 'I'm Going Home'; Announces Her 2023 National Tour
- Jennifer S. Wilkov Finalizes Lineup for the 2023 April Speak Up Women Conference
- Doug Brownridge Joins STS Capital Partners
- CSC Motorcycles Announces New Twin Cylinder 650cc Sport Touring Model
- Cargill joins Selerant on stage at American Food Innovate 2023
- The In-N-Out Burger Financial Planning Story
- Cash Depot Appoints Tony Gaines as Chief Revenue Officer and Brand Ambassador
- Sip Social Co. Partners With Apé Canada For Supply Of Piaggio Apé's
- Eddie Turner is Recognized as the #9 Motivational Speaker in the World By Global Gurus!