Ontology Announces Venture Capital Cooperation to Co-Build a Next Generation Chain Network
Apr 4, 2018 — Ontology, a new public multi-chain project and a distributed trust collaboration platform, has formally announced cooperation with venture capital firms Sequoia China, Danhua Capital (DHVC), Matrix Partners China, and ZhenFund, co-initiating the Co-Builder Plan. All the participants of the Co-Builder Plan will build, govern and serve the industry ecosystem together. The partnerships aim to explore application development, outreach, and incubation, and together build a new generation of public blockchain infrastructure and a distributed trust ecosystem to support real business applications and scenarios.
Ontology is a new high-performance public multi-chain project & a distributed trust collaboration platform that includes a series of complete distributed ledgers and smart contract systems. Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups. Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.
Speaking on the dawn of the ecosystem incubation with the new partnerships, 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.”
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.”
In regard to the strategic cooperation with Ontology, 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.”
Haoji Wan, Partner of Matrix Partners China, noted that the collision between the traditional internet and blockchain technology is a global trend. The enhancement of the original internet model with blockchain can make business operations more flexible and able to respond quickly to the changes in market demand. The biggest challenge for blockchain is to achieve truly decentralized trust techniques through different consensus models. Wan added, “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.”
About Sequoia China
The Sequoia team helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from their unmatched community and the lessons we have learned over 46 years working with Apple, Cisco, Oracle, Google, Alibaba, Airbnb, and JD.com among many others.
As “The Entrepreneurs Behind The Entrepreneurs”, Sequoia China focuses on four sectors: TMT, healthcare, consumer/service, and industrial technology. Over the past 13 years Sequoia have had the privilege of working with more than 500 companies in China. For more information, visit www.sequoiacap.com/china/en.
DHVC is a VC fund that invests primarily in early stage and growth stage company with disruptive technology/business model, big market, and excellent team. The fund’s areas of focus include Artificial Intelligence, AR/VR, Big Data, Blockchain, Enterprise Software and other disruptive technologies. DHVC has a professional investment team with exceptional academic, industry, and investment background. The founding team has been working together for over 10 years. They bring together a unique combination of education/research/entrepreneurship/capital market, extensive network in both Silicon Valley and China, and in-depth knowledge in cutting-edge technologies. Backed by top-notch institutional and strategic partners, DHVC aims to provide startup companies with a wide range of resources to achieve greater success on a global scale.
About Matrix Partners China
Matrix Partners China is committed to building long-term relationships with outstanding entrepreneurs and helping them build significant, industry-leading companies.
Affiliated with Matrix Partners, a premier U.S. venture capital firm, Matrix Partners China was founded in 2008 to focus exclusively on investments in China.
Since its inception in 1977, Matrix Partners has made hundreds of investments and played an active role in the development of many successful businesses, 50 of which went on to IPO, and 75 of which have gone on to profitable M&A events. The firm consistently ranks in the top venture firms in terms of returns to its investors.
Matrix Partners China combines local knowledge with global experience and vision. The team consists of both former entrepreneurs and experienced investors. The past successes of Matrix Partners China include Focus Media, Eachnet, and Baidu, among others. Matrix Partners China invest across multiple sectors and stages.
In its early years, Matrix Partners China appeared as a changemaker for traditional USD foundations. The firm hired young internet product managers as investors since they had a better understanding about the industry, and recruited massively to have a investment team of 40 and a post-investment team of 70 to generate additional value for enterpreneurs.
ZhenFund is a Beijing-based seed fund founded by New Oriental co-founders Bob Xu and Victor Wang. ZhenFund was established in 2011 in collaboration with Sequoia Capital China, with the aim of promoting innovation among youth in China. After empowering Chinese students to study abroad, Bob and Victor are now dedicated to helping returnees pursue entrepreneurship in China.
At ZhenFund, they believe that a truly great business starts with an exceptional founder. ZhenFund are dedicated to helping their entrepreneurs build successful companies by providing them with mentorship and the best resources available.
Ontology is a new high-performance public multi-chain project and a distributed trust collaboration platform.
Ontology provides new high-performance public blockchains that include a series of complete distributed ledger and smart contract systems.
Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups.
Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.
For more information, please visit: ont.io.
If you are interested in co-building our ecosystem, contact us at email@example.com
The Ontology Team
Media contact information: firstname.lastname@example.org