TLDR:
– Colosseum raises $60 million for its accelerator program for startups on Solana’s ecosystem.
– The funding will be used for pre-seed investments in teams accepted into Colosseum’s Accelerator program.
Colosseum, an independent organization focused on growing the Solana ecosystem, has closed a $60 million funding round for its first fund. The capital will be used for pre-seed investments in teams accepted into Colosseum’s Accelerator program, designed to bring more developers and startups into the Solana ecosystem. Projects selected for this program are granted a $250,000 pre-seed investment, along with access to Solana’s network of mentors and venture funds. Colosseum has been leading Solana’s hackathons since January 2024, attracting thousands of participants and launching numerous products.
Under the leadership of co-founder Clay Robbins, Colosseum aims to enable founders to compete and realize their product vision without the geographic restrictions of traditional accelerator models. The organization hosted its first hackathon earlier this year, attracting 8,000 builders from 95 countries and receiving over 1,000 product submissions. Through its initiatives, Colosseum has played a significant role in the growth of the Solana ecosystem, with many venture-backed startups originating from its hackathons and raising over $650 million in venture capital.
