The first investment of US $ 500,000 in Cardano Venture Fund, was invested in the payment company COTI

According to a report by Coindesk, COTI received $ 500,000 from cFund, the first investment in the Cardano-backed venture capital fund, which now makes Cardano the 7th largest cryptocurrency in the capitalization market. The $ 20 million cFund was formed in July last year as a joint venture between manufacturer Cardano IOHK and Los Angeles-based Wave Financial. The purpose of these funds is to enhance the Cardano ecosystem, which has not kept pace with the rapid growth of native ADA tokens.