On May 24, Singaporean deal financialย resources company Foresight Ventures announced that it would pledge anย extra $10 Million to its Foresight X Accelerator, bringing its total to $20 Million. The move comes as the company opens the Second phase of accelerator applications, which will focus on Webย 3.0 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin, liquid staking derivatives, and nonfungible cryptoย token ecosystems.
Previously, Foresight earmarked $10 Million for its accelerator, which launched last November. In its 1st phase, Foresight focused on 30 corporations from its Webย 3.0 project pool, supplying an financing of $50,000 to $200,000. As the accelerator moves into its Second phase, Foresight will allocate $200,000 to each selected project and assign up to 3 mentors and one fund partner from the VC company to provide practical guidance. A Demo Day will likewise be held upon the conclusion of the program.
We are all in #ZKML and we think thereย is greaterย than just algorithms or data in Webย 3.0.
We can help connect human, and create emotional value using Artificialย Intelligenceย (AI) in Webย 3.0 https://t.co/sM4dtlbWiR
โ Foresight Ventures (@ForesightVen) May 16, 2023
Established in 2020, Foresight has combined assets under management (AUM) of over $400 Million in its VC portfolio. Its AUM increased significantly compared to $80 Million in 2021 after acquiring Singapore-based digitalย currency exchange Bitget and signing a limited partnership with multi-chain wallet provider BitKeep.
In June 2022, the company launched a $200 Million financialย resources pool to invest in the private rounds of cryptocurrency projects looking to access liquidity during volatile market conditions. Theย previousย 30ย days, the company was one of plentyย of VCs to partner with digitalย currency exchange Bitget for the launch of a $100 Million Webย 3.0 fund focused on blockchainย tech projects worldwide.ย
