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DCG Leads $205M Funding Round for The Graph



 Blockchain indexing service The Graph has launched a $205 million investment fund to encourage new crypto projects and attract them to the platform. Another example of how venture capitalists remain keen on promoting Decentralized Apps (DApps).


The main backers of the new development fund are Digital Currency Group, Multicoin Capital, Reciprocal Ventures, Gumi Cryptos Capital, NCG and HashKey. The fund's stated goal is to accelerate the growth and advancement of The Graph's ecosystem.


Deng Chao, Managing Director of HashKey Capital, explains in this context that his company wants to provide the necessary resources for developers of decentralized apps and crypto projects so that they can establish themselves on the institutional market. The Digital Currency Group is already a major supporter of The Graph's ecosystem, with the DCG looking to use its new funds to specifically help out in the Decentralized Financial Services (DeFi) and Metaverse space.


Miko Matsumura of Gumi Cryptos Capital describes The Graph as an "important part of Web3" because the platform also has a special focus on programming interfaces that enable the construction of the internet of the future.


In the past, the Graph Foundation has already given considerable funding to developers to promote the expansion of their own network. In December, for example, the foundation provided 60 million US dollars for Semiotic AI , which is intended to improve the integration of artificial intelligence (AI). Also in the same month, open API platform The Guild was a $48 million beneficiary .



Development of investment capital for the crypto industry from 2015 to 2021. Source: CBI Insights

The past year has been a record year for investment capital in the crypto industry, and the trend continues. As Cointelegraph recently reported, there have been multiple nine-figure funding rounds, including $200 million for Alchemy and Aleo , a $450 million investment round for Polygon , and a $109 million injection of funds into the crypto wallet phantom .

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