EMURGO Ventures Announces Investments to Bolster EMURGO’s Growing Web3 Portfolio

SINGAPORE NOVEMBER 28 2022 / EMURGO Ventures – EMURGO Ventures, the investment arm of the Cardano blockchain’s official commercial arm EMURGO, today announced that EMURGO Ventures has made two new investments to add to its fast-growing Web3 portfolio.

EMURGO Ventures launched in September 2021 and outlined an aggressive investment strategy to target both Cardano blockchain-native and non-Cardano blockchain Web3 projects with the plan to deliver high-impact interoperable products and services to Cardano’s rapidly growing user base. 

Despite market conditions, EMURGO Ventures remains steadfast in its mission to actively invest in and support Web3 builders that can bring added value to Cardano’s expanding ecosystem.

• On-chain Autonomous Kernel (OAK), a Web3 hub for trustless, automated decentralized finance (DeFi) and digital payments. OAK allows transactions to be executed by specific event signals such as time, price, and smart contract state changes. Its Web3 solution has the potential to improve the overall operational efficiency of the Cardano blockchain via its interoperable, automation infrastructure.
• SubQuery is an open-source blockchain data indexer for developers that provides fast, flexible, reliable, and decentralized APIs to power leading multi-chain apps. As an infrastructure builder, SubQuery can support the Cardano blockchain by providing APIs to various Cardano ecosystem projects including Cardano DeFi, Cardano NFTs, Cardano wallets, etc.

“To accelerate the acceptance and understanding of Web3, our industry must always stay focused on building real products that provide vastly better services than existing ones. EMURGO Ventures is deeply committed to investing in and building the future of the Cardano ecosystem regardless of market cycles. The recent investments that EMURGO Ventures has made aim to diversify Cardano’s future Web3 ecosystem with a wider range of interoperable products, services, and developer tools,” said EMURGO Ventures Partner Kaimin Hu. 

Cardano is an open-source and decentralized blockchain platform that strives to make the world better for all by utilizing an environmentally friendly, proof-of-stake consensus protocol. Having recently marked the 5th year anniversary of its formal launch, the Cardano blockchain now has over 4 million Cardano ADA wallet addresses globally and over 3,220 stake pool operators securing its network.