n addition to venture funding, the Ecosystem Development Fund model ensures protocol engineers are available to guide startups developing layer 2 solutions on top of the Cardano blockchain.

The fund has a broad remit to invest in startups and early-stage businesses that use Cardano and ATALA, IOHK’s enterprise solution for credential verification and digital payment services.

Commits will range between $250,000 and $500,000 for either equity or token stakes.

The cFund is a 50/50 venture: IOHK has already put in the “anchor” $10 million, and Wave plans to raise the other half from external investors.