June 06, 2024
Skyland Ventures, a venture capital fund based in Shibuya-ku, Tokyo, with Yoshihiko Kinoshita as its General Partner and CEO (also known as SV), primarily invests in seed-stage startups. They are excited to share that they have contributed to a funding round for Bitlayer, the First Bitcoin Layer 2 Developer.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Bitlayer | $5M | June 06, 2024 | Seed | Skyland Ventures | Bitcoin |
BitLayer is a Layer 2 solution designed to improve Bitcoin's security and scalability. It includes a Layered Virtual Machine (LVM) that is compatible with EVM smart contracts. This feature enables developers to effortlessly transition smart contracts written in languages that compile to EVM bytecode, like Solidity, over to BitLayer. At present, BitLayer is compatible with Solidity up to version 0.8.25 and plans to support future versions as well. They have an efficient mechanism that allows its transaction fees (also known as gas prices) to be lower than those of Ethereum. The native gas token for these transactions is BTC.
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 network based on BitVM, offering Bitcoin-equivalent security and Turing completeness. The protocol aims to become the computation layer of Bitcoin, providing ultra-scalability and inheriting Bitcoin’s Layer 1 security. Bitlayer focuses on high throughput and low-cost transactions, making it a robust solution for building scalable applications on Bitcoin.
Website: https: www.bitlayer.org/
X Account: https://x.com/BitlayerLabs
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About Investor
Investor: Skyland ventures
Skyland Ventures, also known as SV, is a venture capital fund based in Tokyo, Japan. It was founded by Max Kinoshita and Yoshihiko Kinoshita on August 1, 2012. The fund primarily focuses on seed startup investments, with a mission of "The Seed Maker. & Unlearning.".
Skyland Ventures has invested in over 120 startups, mainly in Japan. They make equity and token investments that provide seed money to startups that will have a significant impact on the technology industry. In April 2022, they formed SV4, a seed VC for the Internet industry, investing in Web3 startups both domestically and internationally. The fund focuses on new digital economies, including Web3 and the Generative AI field, in addition to the existing Internet and digital fields (Web2).
In 2023, Skyland Ventures announced the completion of fundraising for its new fund, Skyland Ventures, which focuses on investing in the Web3 (Crypto, NFT, Blockchain) space. The fund raised a total of 5 billion yen and has added SBI Group as a new LP, with TAIKO, KEKKAI, and Desoul among the new portfolios for 2023.
Location: Tokyo, Japan
Website: https://skyland.vc/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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