OKX Ventures invests $5 million in TON Ventures to drive the development of next-generation Telegram-native applications
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OKX Ventures invests $5 million in TON Ventures to drive the development of next-generation Telegram-native applications
This investment aims to build a network of experienced developers to promote and implement best practices in TON application development.
Navigating Web3 tides with focused insights• This investment further demonstrates OKX Ventures' deep support for the TON ecosystem, following its recent launch of the $10 million "Telegram Growth Hub".
• The $5 million investment aims to build a network of experienced developers to advance best practices in TON application development.
December 10, 2024 — OKX Ventures, the investment arm of OKX, a leading global cryptocurrency exchange and blockchain technology company, today announced a $5 million investment in TON Ventures, a venture fund focused on accelerating growth within The Open Network (TON) blockchain ecosystem. This investment will help establish a network of seasoned developers to drive best practices in TON-based application development.
This initiative complements OKX Ventures’ previously launched $10 million Telegram Growth Hub, co-founded with The Open Platform and Folius Ventures, which focuses on enhancing technical expertise and development standards. Leveraging direct access to Telegram’s 950 million monthly active users, along with successful mini-apps such as Notcoin, OKX Racer, and Catizen, TON has demonstrated strong potential for mass adoption.
TON Ventures is led by former TON Foundation executives Ian Wittkopp (Head of Acceleration Programs) and Inal Kardan (Head of Gaming). The fund specializes in supporting early-stage consumer applications built on TON, with a focus on decentralized finance (DeFi), gaming, creator economy, and infrastructure projects. It has already achieved notable success in its early investments, including backing platforms like DeLabs and Goat Gaming, advancing creator economy infrastructure such as Memetics, helping Telegram communities create mini-economies, and investing in AI applications like Grably, which leverages data from TON and Telegram to train AI models.
Jeff Ren, Partner at OKX Ventures, said: “As an early supporter of TON, our investment in and collaboration with TON Ventures further underscores our commitment to cultivating a robust developer ecosystem. The TON ecosystem needs experienced developers who not only master technical best practices but also deeply understand the user experience requirements of native Telegram applications. This investment, alongside our recently launched Telegram Growth Hub, reflects our long-term confidence in TON’s potential to bring blockchain technology into the mainstream. We look forward to working closely with the founding team of TON Ventures, whose deep expertise in the ecosystem will be instrumental in scaling the next generation of TON-native applications.”
Ian Wittkopp, Partner at TON Ventures, said: “The OKX Ventures team was among the first to recognize the core value of TON—uniting Telegram’s social network with TON’s blockchain technology to build a vibrant Web3 consumer application ecosystem capable of reaching millions of users. Their excellence in attracting top-tier developers and providing strategic funding has significantly accelerated the growth of the TON ecosystem. We are thrilled to deepen our partnership with OKX Ventures and look forward to many years of close collaboration ahead.”
TON Ventures has successfully raised $40 million in initial capital, led by founders Ian and Inal, leveraging their deep ecosystem expertise. The fund typically provides up to $500,000 in funding for early-stage projects, while remaining flexible to pursue larger investment opportunities. Over the coming months, TON Ventures will focus on supporting mid-core gaming experiences, expanding monetization tools for creators, and driving further growth in TON’s decentralized finance sector.
About OKX Ventures
OKX Ventures is the investment arm of OKX, a leading global cryptocurrency exchange and Web3 technology company. It focuses on identifying high-quality blockchain projects worldwide, supporting cutting-edge technological innovation, promoting healthy industry development, and investing in projects with long-term value. OKX Ventures is committed to empowering blockchain entrepreneurs to build innovative companies and provides them with global resources and extensive experience.
For more information, visit the OKX Ventures website.
About TON Ventures
TON Ventures is a leading venture capital firm dedicated to advancing innovation within The Open Network (TON) ecosystem, supporting early-stage, innovative startups building in the unique design space of TON and Telegram. TON Ventures offers financial investment, operational support, ecosystem expertise, and opportunities for portfolio projects to connect with top global industry partners. By fostering close collaboration between investors and projects, TON Ventures aims to accelerate large-scale adoption of decentralized technologies and empower the next generation of Web3 entrepreneurs. For more information, visit: tonventures.io.
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