Crypto VC firm Foresight Ventures has committed $25 million to support early-stage blockchain initiatives on BNB Chain.
Singapore-based crypto venture capital firm Foresight Ventures will invest up to $25 million in projects on BNB Chain through 2025 as part of the BNB Incubation Alliance.
In a Feb. 24 press release shared with crypto.news, the firm said the initiative is aimed at boosting blockchain adoption by supporting emerging startups via BIA, an initiative which supports projects with access to resources, mentorship, and funding opportunities, including grants from BNB Chain and support from YZi Labs.
“By backing projects within BIA, we aim to bridge promising ideas with the essential resources and networks they need to thrive. This collaboration reinforces our belief in the transformative power of blockchain technology and our responsibility to foster its adoption globally.”
Foresight Ventures co-founder Forest Bai
With the funding, BIA plans to host global events to bring early-stage projects together with investors and experts. While the exact funding requirements for startups are not clear, the press release notes that selection will be based on innovation, scalability, and how well projects fit with BNB Chain’s ecosystem.
In mid-February, BNB Chain revealed its tech roadmap for 2025, highlighting the ecosystem’s focus on using artificial intelligence to boost transaction speeds and security.
Originally developed by Binance, the blockchain aims to reduce transaction latency to sub-second speeds, enable gasless transactions, and scale to handle 100 million transactions per day. In addition to these upgrades, the network is tackling long-standing security challenges, especially those linked to maximal extractable value exploits.
