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Hong Kong-based Chiron Partners launches $50M Terra fund



Hong Kong-based Chiron Partners launches $50M Terra fund Hong Kong venture capital firm Chiron Partners has launched a new ecosystem fund dedicated to Terra , opening the door to new innovations for the layer-one decentralized finance, or DeFi, protocol. The Chiron Terra Fund I, also referred to as CTI, will deploy $50 million in capital to support innovative projects building on top of the Terra ecosystem. Projects at the intersection of decentralized finance and β€œmetaverse-linked” nonfungible token platforms are eligible for support, the company announced Wednesday. β€œCTI fills a vital gap in the digital assets space. We’re excited to advance our thematic approach and identify promising investment opportunities,” shared Sean Hung, Founding Partner and CEO of Chiron Partners. Major crypto venture funds including Pantera Capital, Galaxy Digital and BlockTower Capital contributed to the raise. Related: The stablecoin scourge: Regulatory hesitancy may hinder adoption Terra has emerged as one of the largest DeFi-oriented blockchains on the market, with total value locked surpassing $13 billion, according to industry data. Only Ethereum has a higher TVL. Last month, the cryptocurrency peaked above $77.00.

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