OKX Ventures and Aptos Foundation unveiled a $10 million fund to support the growth of the Aptos ecosystem and widespread adoption of Web3.
OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, and Aptos Foundation is building the Aptos blockchain, a scalable Layer 1 Proof-of-Stake (PoS) blockchain that uses the Move programming language to make on-chain transactions more reliable, easier-to-use, and secure.
The fund will be used to develop an accelerator program, operated in partnership with Ankaa and intended to bolster the growth of quality projects and applications built on Aptos.
The accelerator will provide selected Aptos ecosystem projects with venture support, focused mentorship, go-to-market exposure, and access to the extensive network of experts from OKX, Ankaa and Aptos Foundation combined.
A panel of judges from the Aptos Foundation, OKX Ventures and Ankaa teams will kick off the program by choosing five promising projects to include in this September’s inaugural accelerator cohort.
Ankaa will serve as the initial investor in accepted projects and run the accelerator’s daily operations. The accelerator’s key focus areas will initially include, but are not limited to, infrastructure, DeFi, RWA, gaming, social, AI, and other dApps critical to the growth and evolution of the Aptos ecosystem and Web3 in general.
“We see immense potential in Aptos, particularly due to its use of the Move programming language – a game-changer for creating secure and efficient smart contracts in the DeFi space,” said OKX Ventures partner Jeff Ren, in a statement. “As we witness the next wave of adoption – spurred not only by the Ethereum and Bitcoin networks but beyond – we’re enthusiastic about the prospect of Aptos becoming a major player in the blockchain space.”
Ren added, “We’re fully committed to supporting Aptos ecosystem projects that enhance the fundamental infrastructure of the blockchain and Web3 space, and warmly welcome all interested developers to reach out to us.”
Over the past two years, OKX Ventures has invested in over 300 projects across five continents with a fund size of approximately $1 billion, covering almost all investment tracks. Through the partnership with Aptos Foundation, OKX Ventures aims to double down its support and exploration of cutting-edge blockchain innovation and high-quality projects, committing to driving long-term value for the ecosystem.
“OKX Ventures’ vast network and robust expertise in supporting virtually all areas of the Web3 space is an invaluable resource for the Aptos ecosystem,” said Aptos Foundation head of grants and ecosystem Bashar Lazaar, in a statement. “The team’s commitment to fostering a conducive environment for innovation and growth aligns perfectly with our vision for Aptos. We’re excited to leverage their insights and resources to further foster the development of the Aptos ecosystem, and get some incredible projects off the ground.”
“With OKX and Aptos Foundation at the helm, this joint ecosystem growth fund and accelerator will prove critical to cementing Aptos as the Move-based L1 to prove out elusive use cases and onboard Web2 developers into Web3,” said Mo Shaikh, CEO of Aptos Labs, in a statement. Aptos Labs’ ecosystem will be providing blockchain support and advisory efforts for the joint accelerator.
Applications for the Ankaa accelerator program are set to open this August. OKX Ventures, Aptos Foundation, and Ankaa welcome all interested developers and projects to connect with their teams via this link.
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