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Foresight Ventures pledges additional $10M for Web3 accelerator

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On May 24, Singaporean venture capital firm Foresight Ventures announced that it would pledge an additional $10 million to its Foresight X Accelerator, bringing its total to $20 million.

The move comes as the firm opens the second phase of accelerator applications, which will focus on Web3 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives, and nonfungible token ecosystems.Previously, Foresight earmarked $10 million for its accelerator, which launched last November.

In its first phase, Foresight focused on 30 companies from its Web3 project pool, providing an investment of $50,000 to $200,000.

As the accelerator moves into its second phase, Foresight will allocate $200,000 to each selected project and assign up to three mentors and one fund partner from the VC firm to provide practical guidance.

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