Contango Digital Assets Announces Successful First Close of $5M Blockchain x AI Fund

Contango Digital Assets, a Canadian venture capital firm, has successfully closed the first round of its latest venture fund, the Contango Blockchain x AI Fund, raising an impressive $5 million in LP capital. The fund is dedicated to investing in North American seed round companies at the intersection of blockchain and artificial intelligence, representing a strong bet on the growth of decentralized AI.

The fund has garnered support from prominent investors in the industry, including the CEO of Quantstamp, the CFO at SingularityNet, and the CEO at WonderFi, among others. With experienced Managing Partners Mike Grantis and Joshua Field at the helm, who have participated in over 80 related Angel investments since the company’s inception, the fund is well-positioned to drive forward the convergence of blockchain and AI technologies.

Contango has strategically allocated capital to projects within the Bittensor ecosystem, a leading decentralized AI project, and has fostered strong relationships with other AI-related ecosystems such as SingularityNet and Akash. This broad perspective ensures that the fund remains at the forefront of innovation in blockchain and AI.

Managing Partner Mike Grantis emphasized the importance of decentralized AI, stating, “Our goal is to ensure we are backing projects that are building in this direction and providing a counterweight to the centralized, monopolistic alternatives.” Meanwhile, Managing Partner Joshua Field highlighted the oversubscription of the fund as a testament to the track record of investing and the growing interest in crypto and AI.

With a strong team, strategic vision, and robust network of partners and investors, the Contango Blockchain x AI Fund is poised to drive innovation and foster growth at the dynamic intersection of blockchain and artificial intelligence. For more information, visit contango.digital.