HONG KONG, Dec. 8, 2021 /PRNewswire-PRWeb/ -- Leading Hong Kong-based Asian venture capital firm Chiron Partners today officially launched the Chiron Terra Fund I (CTI), its first dedicated protocol-specific investment fund, with US $50 million in capital commitments to invest in innovative projects that align with the firm's vision of transforming the digital ecosystem.
CTI, among the first in the industry, will invest in projects built on top of the Terra ($LUNA) ecosystem. These projects will span decentralized finance (DeFi) applications, metaverse-linked non-fungible token (NFT) platforms, and more. The move cements Chiron Partners' position as a key player in accelerating the development of promising, disruptive, and emerging technologies.
Launched in 2019, Terra ($LUNA) is a decentralized public blockchain protocol providing fast, affordable settlements via fiat-pegged algorithmic stablecoins. It combines fiat currency stability with next-generation, blockchain-powered instant settlement and frictionless cross-border transactions.
In October 2021, Terra ($LUNA) completed its Columbus-5 upgrade, significantly improving scalability and enhancing network interoperability. Over 160 new projects are scheduled to launch on the Terra ecosystem by early 2022, with many existing projects announcing enhancements made possible by the upgrade.
"We're thrilled to have Chiron Partners join the booming Terra ecosystem as a valuable resource to help equip ecosystem projects and builders with capital, strategic expertise, and other guidance," says Do Kwon, Co-Founder and CEO of Terraform Labs.
"The Terra ($LUNA) ecosystem's growth potential, particularly after the latest Columbus-5 upgrade and announcements on Risk Harbour insurance wrapped protection, is limitless. We want to work closely with visionaries behind up-and-coming projects built on Terra – supporting them with not just capital, but also our strategic, extensive resources and expertise," said Jake Cormack, Founding Partner and COO of Chiron Partners.
"CTI fills a vital gap in the digital assets space. We truly believe every great project requires a well-built protocol to flourish, and CTI will make that happen. We're excited to advance our thematic approach and identify promising investment opportunities." said Sean Hung, Founding Partner and CEO of Chiron Partners.
About Terra
Terra is an application-specific decentralized public blockchain built on the Cosmos SDK and Tendermint consensus. The Terra protocol deploys a suite of algorithmic, fiat-pegged stablecoins underpinning a thriving DeFi ecosystem with apps such as Anchor, Pylon, Mirror Protocol, and many other ecosystem projects. LUNA, the native staking and governance asset of Terra, absorbs the short-term volatility of Terra's stablecoins, with stablecoin demand being a function of the overall demand for Terra's DeFi ecosystem and uptake across various chains where UST is supported -- accruing value to LUNA via seigniorage.
About Chiron Partners:
Headquartered in Hong Kong, Asia-based investment group Chiron Partners focuses on high-growth digital asset investment opportunities globally, aiming to accelerate the digital assets ecosystem by deploying significant resources on promising projects. Chiron Partners was founded by Sean Hung and Jake Cormack in 2021 to back companies creating new markets, improving efficiency, and disrupting the financial landscape.
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SOURCE Chiron Partners
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