On April 4, 2018, Ontology announced a collaboration with four venture capital firms. The “Co-Builder Plan” is a partnership between Ontology, Sequoia Capital, Danhua Capital (DHVC), Matrix Partners China, and ZhenFund. The participants of the Co-Builder Plan seek to govern and serve the industry ecosystem.
The partnerships of the Co-Builder Plan aim to examine application development, outreach, incubation, and to build a public blockchain infrastructure and distributed trust ecosystem to support real world business scenarios and applications.
Ontology is a distributed trust collaboration platform, that seeks to support public blockchain systems and aims to customize different blockchains for different applications. Ontology intends to supply modules that’ve been developed on underlying infrastructure for distributed digital identity framework, distributed data exchange protocols, and intends to develop new common modules based on specific scenario requirements of an entity using blockchain.
Regarding the newly formed collaboration Jun Li, Founder of Ontology, said “We are very thankful for the support and trust from Sequoia China, DHVC, Matrix Partners China, and ZhenFund. We will continue to work on the research and development of blockchain technology and create a world-class blockchain infrastructure and trust-based application ecosystem. In addition, we will persist in finding viable blockchain solutions for different industries.”
Sequoia are the “Entrepreneurs Behind the Entrepreneurs,” who primarily focus on four sectors: technology, media, and telecom (TMT); healthcare; consumer/service; and, industrial technology. Sequoia has worked with companies such as Apple, Cisco, Oracle, Google, Alibaba, AirBnB, and JD.com, among others.
A partner from Sequoia China said, “Blockchain is currently at a very early stage and there are still many application opportunities in commercial scenarios to be realized. The Ontology team is committed to building key blockchain infrastructure for commercial adoption, and with this they are bringing blockchain technology to practical commercial applications. The Ontology team has a rich accumulation of blockchain technology and business experience, which allow them to provide their partners and customers with comprehensive support.”
For more information about Sequoia China, visit their website.
Danhua Capital (DHVC)
DHVC is a Venture Capital firm that primarily invests in early stage and growth stage companies. The firm focuses on funding entities that focus on artificial intelligence, augmented reality/virtual reality, big data, blockchain, enterprise software, and other disruptive technologies.
Regarding Ontology, ShouCheng Zhang, Chairman of DHVC said, “DHVC’s mantra ‘in math we trust’ expresses our trust in mathematics. Trust is the prerequisite to consensus, and Ontology, a new generation public chain infrastructure project and a distributed trust collaboration platform, is the world’s first platform to propose a distributed chain network system. It achieves ‘last mile technology’, making blockchain accessible for all. More importantly, as the core business of Onchain, Ontology has strong technical advantages, a strategic blueprint for high-level development, and a deep understanding of business requirements, making it the representative of a China-led blockchain project with a clear development plan. DHVC very much hopes to empower China’s blockchain industry and looks forward to working with Ontology to together promote the global voice of China’s blockchain industry and build a bridge of trust between the physical world and the digital world to make our world a better and fairer place.”
For more information about Dana Capital, visit their website.
Matrix Partners China
Matrix Partners China is an affiliate of Matrix Partners, a US-based investment firm incepted in 1977. Matrix Partners China was founded in 2008 to focus solely on investments in China, by building relationships with entrepreneurs and helping them grow into industry-leading companies.
The Chinese affiliate consists of former entrepreneurs and experienced investors, to focus across multiple sectors and many companies at various stages in their development.
On the Ontology collaboration, Haoji Wan, Partner at Matrix Partners China, stated “We are very optimistic that Ontology will continue to build the infrastructure and gateway for a truly global digital identity. Matrix Partners China, along with other investors and partners, aim to help Ontology expand their community and ecosystem via blockchain innovation.”
Wan believes the convergence of the traditional internet and blockchain technology is an international trend that can make business operations more flexible and able to respond quickly to changes in market demand.
For more information about Matrix Partners China, visit their website.
ZhenFund is a Beijing-based seed capital firm established in 2011 with the goal to promote innovation among the youth in China. The partners provide support for Chinese students to study abroad, then assist those who return to pursue entrepreneurial ventures. The firm is dedicated to helping young entrepreneurs build successful companies by providing them with mentorship and the best resources available.
For more information about ZhenFund, visit their website.