# $100 million funds raised by Mysten labs 

By [Bangool](https://paragraph.com/@bangool) · 2023-03-07

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Mysten Labs CEO Seeking to Raise over $100 Million for a Web3 Fund

Evan Cheng, CEO of Sui developer Mysten Labs, is seeking to raise over $100 million for a Web3 fund, according to The Block.

Sui is a Layer 1 smart contract platform that claims to offer unprecedented low-latency for simple use cases by forgoing consensus to instead use simpler and lower-latency primitives.

[**www.sns.domains**](http://www.sns.domains)

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*Originally published on [Bangool](https://paragraph.com/@bangool/100-million-funds-raised-by-mysten-labs)*