The TON blockchain, initially developed by Telegram, has launched a new venture capital fund called TON Ventures, founded by former senior members of the TON Foundation.

With a successful fundraising effort, TON Ventures has raised $40 million to support early-stage crypto projects, focusing on consumer applications within the TON ecosystem.

The firm anticipates fully deploying its fund within a year, driven by strong interest from leading developers.

TON Ventures aims to foster the emergence of billion-dollar companies in sectors such as decentralized finance and gaming, leveraging the capabilities of the TON blockchain.

Projects selected for funding will receive not only financial support but also access to global resources, Telegram Ads, media support, and strategic partnerships to enhance their growth potential.

The TON blockchain is recognized for its scalability and efficiency, capable of handling millions of transactions per second, which is essential for real-time multiplayer gaming experiences.

The TON ecosystem has gained traction with web3 games like Hamster Kombat and Notcoin, attracting millions of users and demonstrating the platform's potential.

Digital asset investment firm Pantera Capital has made its largest investment ever in TON and is currently raising funds for a second investment round.

Ian Wittkopp, the former director of TON Accelerator, emphasizes the importance of capital allocation for the growth of TON and Telegram, which he believes will lead to substantial business growth in decentralized sectors.

The fund was informally raised over a period and was fully completed about a month before the announcement, reflecting the confidence in the TON ecosystem.

The Open Network (TON) operates as a decentralized layer-1 blockchain and became independent after Telegram's regulatory issues with the SEC in 2020, paving the way for its current growth and innovation.