The developers and investors behind the smart contracts platform Avalanche have launched a $200M early-stage investment firm and incubator named Blizzard. The fund was raised by investors including the Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, and CMS Holdings, among others.
- The firm and incubator will be operated by Ava Labs and about six or so now former Avalanche Foundation employees.
- Blizzard's incubator value add will be resources to help with community building, marketing, and introduction to service providers.
- In return for the provided services and capital, Blizzard will receive a portion of the governance tokens controlling products in the Avalanche ecosystem.
- Rather uniquely, the governance tokens will then be distributed to the fund's founders and not held by Blizzard.
- Ava Labs, an investment outfit that is now part of Blizzard, has already made 1,100 deals over the last 10 months.