Trending...
- Expert tip: Private Jet Engine Maintenance Program - Pros and Cons for Preowned Jet Buyers
- Golden Limousine President Sean Duval Receives Humanitarian Award
- Levinger Regens Announces New Initiative to Improve Hydrogen Carbon Intensity
The venture capital firm joins dozens of other investors in new Layer 1 project
SAN FRANCISCO - Michimich -- Today, Shima Capital is delighted to announce its investment in Monad Labs, which is building a new Ethereum Virtual Machine (EVM)-compatible smart contract platform. Shima Capital, a web3 venture capital firm founded by Yida Gao, contributed to the $19 million seed funding round that was led by Dragonfly Capital, with additional contributions from Placeholder Capital, Lemniscap, Finality Capital, and angel investor Naval Ravikant.
Monad is a Layer 1 EVM-compatible blockchain that is rethinking what can currently be done on EVM chains, including Ethereum itself. Keone Hon, co-founder and CEO of Monad Labs, told TechCrunch, "We're ultimately building a platform to optimize both consensus and execution […] which ultimately results in a system that can process a billion transactions per day and 10,000 transactions per second."
"The world of web3 is ready and waiting for a platform to replace Ethereum's high costs and low throughput," said Yida Gao, who is also Managing General Partner at Shima Capital. "We believe Monad can be that platform by re-imagining the EVM with lower fees, higher speeds, and more complex app integrations. Keone and the entire Monad Labs team are well positioned to tackle this issue."
More on Michimich.com
Monad Labs is the team that supports Monad the blockchain, and with help from his own team, Yida Gao is excited to continue supporting Monad Labs as they navigate new territory in the quest to unseat Ethereum as the unquestioned leader in decentralized applications. Shima Capital adds value for portfolio companies by advising on technology, token economics, marketing, and by making further introductions to their vast network of partners.
For more on Shima Capital, visit www.shima.capital. For more on Monad, visit www.monad.xyz.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/
Monad is a Layer 1 EVM-compatible blockchain that is rethinking what can currently be done on EVM chains, including Ethereum itself. Keone Hon, co-founder and CEO of Monad Labs, told TechCrunch, "We're ultimately building a platform to optimize both consensus and execution […] which ultimately results in a system that can process a billion transactions per day and 10,000 transactions per second."
"The world of web3 is ready and waiting for a platform to replace Ethereum's high costs and low throughput," said Yida Gao, who is also Managing General Partner at Shima Capital. "We believe Monad can be that platform by re-imagining the EVM with lower fees, higher speeds, and more complex app integrations. Keone and the entire Monad Labs team are well positioned to tackle this issue."
More on Michimich.com
- Perfect Body Laser and Aesthetics ® Offers Tetra CoolPeel Co2 Laser Skin Resurfacing
- Databloom's Blossom Achieves Faster and More Efficient Big Data Analytics
- Orchard Audio's New PecanPi®+ DAC and Streamer Feature AKM's Latest Flagship Chips
- Country Artist Ashley Wineland to Release Poignant Ballad 'I'm Going Home'; Announces Her 2023 National Tour
- Jennifer S. Wilkov Finalizes Lineup for the 2023 April Speak Up Women Conference
Monad Labs is the team that supports Monad the blockchain, and with help from his own team, Yida Gao is excited to continue supporting Monad Labs as they navigate new territory in the quest to unseat Ethereum as the unquestioned leader in decentralized applications. Shima Capital adds value for portfolio companies by advising on technology, token economics, marketing, and by making further introductions to their vast network of partners.
For more on Shima Capital, visit www.shima.capital. For more on Monad, visit www.monad.xyz.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/
Source: Shima Capital
Filed Under: Business
0 Comments
Latest on Michimich.com
- Sip Social Co. Partners With Apé Canada For Supply Of Piaggio Apé's
- AAM Wins Dorian Award for Bottom Line Improvement
- Sterling Heights announces Sterlingfest 2023 entertainment lineup; Ann Wilson of Heart to headline S
- Eddie Turner is Recognized as the #9 Motivational Speaker in the World By Global Gurus!
- RE/MAX Signature Earns Top Regional Award
- Meijer Recognizes Seven Team Members with Legacy Awards, Introduces New Impact Award
- Atwell acquires Blueline to expand capabilities in the Pacific Northwest
- Golden Limousine President Sean Duval Receives Humanitarian Award
- Wohler releases out-of-band configuration tools for Riedel 2110 SFP's
- Levinger Regens Announces New Initiative to Improve Hydrogen Carbon Intensity
- Eve Wellness, a SF Breast Ultrasound Screening Clinic supports the recent FDA updates to the guidelines to inform women about breast density
- Expert tip: Private Jet Engine Maintenance Program - Pros and Cons for Preowned Jet Buyers
- Gaming and entertainment company Spinrack Corporation, appoints Jesse Norton as Chief Marketing Officer
- Malek Abdulla Expands The Giving Palette to Seven Locations
- .Store Domains launches Elevate.store – a free-to-use platform for online sellers with deals on business tools
- GP GLOBAL GROUP Secures $18M Sale of Shoppes at 41st Street Retail Plaza in Doral, Florida, with $11.5M CMBS Loan Assumption
- HLN's Immunization Calculation Engine (ICE) is continually updated to support new COVID-19 recommendations
- Subsneeded Signs Up 'First' Free Agent CM Soccer Player in Dearborn Michigan
- Schedule Your Track Day Prep for Your Porsche at ArborMotion
- Rewilding Ireland with Lord Dunsany and IrishTrees