Avalanche, a smart contract-enabled cryptocurrency, has received a $230 million investment from a group of VC companies. The funding round, which is being described as a private sale, was led by Polychain and Three Arrows Capital, with the participation of other companies. This investment will give these companies participation in on-chain Avalanche governance and exposure to the price via token ownership.
Polychain and Three Arrows Capital Put Funds in Avalanche
Avalanche, one of the youngest smart contracts-enabled cryptocurrencies, has raised $230 million in a funding round led by Polychain and Three Arrows Capital, two leading VC companies. The funding round, which was categorized as a private token sale, also had the participation of R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital, and a group of angel investors.
About the interest of these venture capital companies, Emin Gun Sirer, director of the Avalanche Foundation, stated:
Despite being years young
