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Three Arrows Capital, Jump Capital back $40M Neon Labs token sale
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cointelegraph.comDeFi development firm Neon Labs has concluded a $40 million private token sale as part of its ongoing efforts to create an Ethereum-compatible environment on Solana, underscoring heightened investor demand for scalability and liquidity solutions in the rapidly growing decentralized finance market.
The private sale of NEON tokens was led by Jump Capital, a Chicago-based venture firm, with additional participation from Shu Zu’s Three Arrows Capital, Solana Capital, Rockaway Blockchain Fund, Ethereal Ventures and CoLab Ventures, among others. Over 60 angels and ecosystem partners participated in the token sale, the company confirmed.
Proceeds from the sale will go towards Neon Labs’ research, development, marketing and business development
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