Ontology coin, a distributed trust collaboration platform, and a high-performance public multi-chain project announced that it has launched it ONT ecosystem funds calling them Ontology Global Capital (OGC).
The Focus of investment of this fund will be to support blockchain technology and blockchain industry ecosystems globally, accelerating industry participation and application rollout, and welcoming exceptional projects to connect with OGC. The Company has appointed Selina Xu of Danhua Capital as the Founding Venture Partner.
— Ontology (@OntologyNetwork) June 8, 2018
Selina Xu- A right candidate
Jun Li has been able to rope in a really strong candidate to manage its fund, Miss Selina Xu. Miss Xu currently holds the position of Partner of Danhua Capital and has been engaged in venture capital since 2008. She has extensive experience in blockchain investment as she has led Ontology coin, NEO, Fcoin, Contentos, ADV, and MDS investment and incubation projects.
From 2008 to 2015 while she was working at Sequoia Capital, Miss Xu participated in the investment of dozens of high-tech internet companies including Toutiao, Vipshop, Rong360.com, ppdai.com, Tezign, and more. From 2016 till the present, she has led the team at Danhua Capital to complete investments in many projects including China Chengxin Credit Rating Group, Baimaohui, Onchain, Zhoupu Data, Yonghui Life, and Lima Technology.
Also, read: Vechain [VEN] puts Shanghai Liquor Industry on Blockchain
Ontology coin envisions supporting distributor businesses
The news of the formation of OGC comes to a couple of days after Ontology foundation announced its Accelerator Program — Ontology Olympus Accelerator (OOA) which will be the most comprehensive ecosystem accelerator among public chains. The program would invite technology and product experts across fields to work together in entrepreneurship and build new distributed business applications based on Ontology coin next-generation public chain infrastructure. The accelerator will provide complete technical, marketing, funding, talent, and legal compliance support
The Ontology Foundation will invest approximately 1.5 billion USD worth of tokens, all of which will be used to support the future development of existing startups and teams chosen.
Ontology has also announced the establishment of Ontology Advisors Group (OAG) thus completing the entrepreneur advisory ecosystem.
With regards to the same Jun Li, Founder of Ontology, was quoted saying:
“Building the trust ecosystem goes hand in hand with the technology, applications, and governance of Ontology. This is nevertheless a huge and arduous task. We decided to launch the Ontology Olympus Accelerator precisely to develop the Ontology trust ecosystem and accomplish its goals. We hope with this accelerator program that more talent and applications can be added to the Ontology ecosystem, integrating technical elites internationally and the technical strengths of various partners to jointly build our cross-chain, -system, -industry, -application, and-terminal distributed trust ecosystem.”
This formation of these three entities will definitely be beneficial for young developers as this would help them to concentrate on their core skills of development rest taken care of by the accelerator and the Capital Group. This could also be the beginning of a lot of Venture Capital money flowing into blockchain driven distributed businesses as they come out of accelerators like these.
Will other companies and foundation backing token will also follow the same suit as Ontology coin? Will this innovatively improve the whole blockchain ecosystem? Do let us know your views on the same.
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