Morningstar Ventures Aims To Back Ambitious StartupsThe firm aims to provide full-fledged financial and strategic support to promising blockchain startups in its efforts to boost the mainstream adoption of the technology

The digital asset and blockchain industries today are home to some of the most innovative startups in tech history. With the right kind of backing and support, these startups have the transformative potential to redefine the world's major industries. In this regard, the investment firm Morningstar Ventures headed by CEO Danilo S. Carlucci is on the constant lookout for such innovative projects.

The firm aims to provide full-fledged financial and strategic support to promising blockchain startups in its efforts to boost the mainstream adoption of the technology. Morningstar Ventures already has an illustrious portfolio, supporting projects such as Polkastarter, Ethernity, Stepn, Xdefi, Covalent, Lithium, etc. To take things a step further, the investment firm in October 2021, pledged its support to the Web-scale blockchain Elrond and committed $15 million to empower startups building its ecosystem.

Morningstar has directed its internal resources to set up an incubator based in Dubai for the Elrond network to help build its global community and educate the masses about the new-age blockchain network. Itheum, the open metaverse data platform is the first of the many promising projects that will be fostered in this incubator.

"Our incubator initiative is committed to building Elrond's global ecosystem and introducing the world to the next phase of technological advancements. Itheum is our point of inception for Elrond Dubai Incubator," says Danilo.

Focused on early-stage token and equity investments, Morningstar Ventures is poised to play catalyst to the digital revolution and positions itself at the helm of innovations to bring not just new startups but also an influx of new users into the blockchain space.