Bitcoin Magazine Ventures, managed by David Bailey and Tyler Evans, is launching the world's first Bitcoin Ecosystem Fund. According to internal information shared with CryptoSlate, the venture capital fund dedicated to investing in the Bitcoin ecosystem has raised $30 million and has been oversubscribed by $90 million. The new fund emphasizes the development of the Bitcoin ecosystem and mainly invests in new applications, tools and infrastructure such as Ordinals, Lightning, BRC20, DLC and other UTXO-related elements. These innovations allow Bitcoin to adopt more flexible functions, similar to Ethereum.

Well-known venture capital firm Sora Ventures invested $3 million in the fund. (Cryptoslate)