Skynet EGLD Capital, Elrond’s first licenced fund accepting in-kind subscriptions, just completed its fundraising round. The partnership raised more than $40 million to aid in the creation of Elrond.
Skynet EGLD Capital is regarded by the market as the brainchild of Skynet Trading’s founders, the business that increased its portfolio by more than $100 million in three years. Skynet Trading’s staff will offer its expertise and knowledge, as well as the necessary resources, to help Elrond expand.
Skynet EGLD Capital’s Founding Partner, Jordy Fiene, offered his thoughts on the latest events. Skynet EGLD Capital, according to Jordy, has been a long-time backer of the Elrond Network and the product they’ve been developing. As the network grows, more developers join the ecosystem, making now the ideal moment to help the Elrond Network reach its full potential.
Project backers include Spark Digital Capital, Elrond Foundation, Morningstar Ventures, Verko, Woodstock, and others. With their cooperation, Skynet EGLD Money will be able to focus on assisting new projects with market access, capital, and consultancy.
Aside from these well-known brands, MEXC, Binance Institutional, Bitmart, Kucoin, and Huobi Global have also pledged their support to the Elrond Network.
The fund’s formation was also discussed by Beniamin Mincu, Co-Founder and CEO of the Elrond Network. According to Mincu, the fully regulated fund will assist Web3 inventors in gaining access to a large amount of liquid cash. Skynet EGLD Capital will also assist them in determining the quickest path to sustainable growth in the Elrond environment.