US-based Tykhe Block Ventures has allocated $10 million from the $30 million fund to support Blockchain projects. The multifaceted asset Heru Finance, which invests primarily in Web 3.0/Blockchain centralization technology, such as digital assets and the essential mechanisms that make them possible, is used to run this organization. They are one of the most active investors in MENA Blockchain ventures.
Prashant Malik is the revered inventor of Apache Cassandra. He was also one of South East Asia’s most prolific angel investors, with more than 50 investments (eight of which have become unicorns), and led this $30 million Blockchain Growth Fund. According to their latest LinkedIn post, the company was delighted to close its first fund.
Tykhe has opened a Dubai office and is planning to launch a $100m fund by the end of 2023. Prashant Malik, a tech investor and founder of Tykhe, founded it in 2021. Tykhe has not suffered any repercussions following FTX’s bankruptcy. This is because most centralized entities involved with it are not linked to blockchain technology’s decentralization ethos as Malik believes.
Prashant Malik, who shared his insights in a news release, stressed the importance of funds for the development of the blockchain industry. In 2021, Prashant Malik and his partners set up a $30 million fund that has already achieved significant success.
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