Polygon, Solana, and Algorand have announced the launch of a $50 million cross-chain investment fund. The fund, which is called Wormhole Ventures, will be used to support projects that are building on multiple blockchains.

Wormhole Ventures is led by Jump Capital, a venture capital firm that has invested in a number of successful blockchain projects. The fund will also be supported by other leading investors, including Polygon, Solana, and Algorand.

The goal of Wormhole Ventures is to help projects that are building on multiple blockchains to succeed. The fund will provide financial support, as well as mentorship and guidance, to help these projects grow and reach their full potential.

“We are excited to launch Wormhole Ventures and support the next generation of cross-chain projects,” said Sandeep Nailwal, co-founder of Polygon. “We believe that cross-chain interoperability is essential for the future of blockchain, and we are committed to helping projects that are building on multiple chains succeed.”

“We are thrilled to partner with Jump Capital and other leading investors to launch Wormhole Ventures,” said Anatoly Yakovenko, co-founder of Solana. “This fund will help us to accelerate the adoption of cross-chain technology and build a more interoperable future for blockchain.”

“We are proud to be a part of Wormhole Ventures,” said Silvio Micali, co-founder of Algorand. “This fund will help to support the development of innovative cross-chain projects that will help to shape the future of blockchain.”

Wormhole Ventures is a significant development for the cross-chain ecosystem. The fund will provide much-needed support to projects that are building on multiple blockchains, and it will help to accelerate the adoption of cross-chain technology.