Colosseum Raises $60 Million for Solana Startup Accelerator Fund

Colosseum, a startup accelerator focusing on the Solana ecosystem, recently announced that it has successfully raised $60 million for a fund dedicated to investing in early-stage projects. The fund, which exceeded its target amount, will primarily make pre-seed investments in selected startups that emerge as winners from Solana Hackathons.

Focus on Crypto Innovation and Entrepreneurship

The team at Colosseum views hackathons as a vital platform for fostering crypto innovation and facilitating the formation of new companies. By organizing events where developers and founders collaborate to create groundbreaking solutions, the accelerator aims to drive forward the evolution of the crypto space. Their approach is designed to empower global builders to experiment with crypto product development and launch onchain startups.

“Our hackathons are designed to level the playing field for builders globally to experiment with crypto product development and launch onchain startups,” explained Matty Taylor, co-founder of Colosseum and former head of growth at Solana Foundation.

The accelerator has already funded 11 companies and deployed $250,000 in investments. Among the supporters of the fund is Bonk DAO, a council of Solana influencers managing $124 million in BONK tokens, who have committed to investing $500,000 in the fund.