Bitcoin tech startup Blockstream has revealed a venture-focused effort centered around the Liquid Network, its commercial sidechain.
The goal of the effort is to connect "promising Liquid projects with Bitcoin-focused investors that are interested in getting involved in the industry's leading sidechain."
The Liquid Ventures Initiative is being backed by 15 venture capital firms and angel investors, "including Seven Seas VC, Blockchain Capital, Castle Island Ventures, Digital Garage Lab Fund, Electric Capital, Fulgur Ventures, Lemniscap, Proof of Capital, and Stillmark," according to a Tuesday blog post. "Total commitments to the initiative stand at $5 million."
"Any startups selected to participate in a Liquid Demo Day will be provided with technical support and operational guidance from the Blockstream team, before getting a chance to pitch their project to investors alongside other startups in the program. Liquid Demo Days will be held on a quarterly basis," the company said.
Blockstream also shared details about its first demo day for projects, which was held on May 18 and included four participants. One of those participants, Pixelmatic, was founded by Blockstream chief strategy officer Samson Mow. Condensat Technologies, SettleBit and Satoshi's Games also took part.