Colosseum is dedicated to investing in promising teams from Solana hackathons, with a recently secured $60 million in an oversubscribed Fund I aimed at supporting successful hackathon teams in its Accelerator program.

Colosseum focuses on attracting, accelerating, and investing in founders with a specialization in cryptocurrency, particularly Solana (SOL). According to Clay Robbins, Co-founder of Colosseum, “We started Colosseum to enable founders to compete and realize their product vision without the geographic restrictions of traditional accelerator models. It’s evident that there is a market demand for novel, specialized venture products in crypto, and we are excited to have a diverse group of investors, including ecosystem founders and hackathon alumni, alongside us to realize our vision for Colosseum.”

Strategy

Colosseum’s strategy revolves around the belief that online hackathons are crucial for innovation and growth in the crypto sector. Many venture-backed startups in the Solana ecosystem originate from these hackathons. By integrating these events directly into its fund, Colosseum supports founders throughout the entire process, from the early stages of idea development to the main net launch.

Earlier this year, Colosseum hosted its first hackathon for the Solana Foundation, attracting over 8,000 participants from 95 countries who submitted more than 1,000 products. Following the event, 10 winners were admitted into Colosseum’s online accelerator program. “Our hackathons are designed to level the playing field for builders globally to experiment with crypto product development and launch onchain startups,” explained Matty Taylor, Co-founder of Colosseum.

After the Accelerator program, Colosseum continues to support projects with access to its online platform, which includes tools like a private social network for mentors and alumni. The first official demo day for the current batch of accelerator founders is scheduled for June 27, 2024.

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