Andresseen Horowitz and Polychain Capital led a $314m funding round in Solana Labs.

Andresseen Horowitz and Polychain Capital led a $314m funding round in Solana Labs, a technology company working to help advance the Solana ecosystem, with participation from CMS Holdings, Coinfund and ParaFi. The millions raised by Solana Labs will be used to create a venture investing arm, a trading desk dedicated to the Solana ecosystem, and support the development of new decentralized applications with the goal of drawing more people onto the blockchain and eventually reaching 1bn users.