The Cardano community has approved the Orion Fund, a treasury-backed venture initiative seeded with 50 million ADA, approximately $15 million. Draper Dragon has been selected to manage the fund, which aims to support early-stage startups building on the Cardano network. The fund will focus on direct investments, venture studio programs, and accelerator initiatives, with oversight from the Cardano Foundation. Cardano founder Charles Hoskinson confirmed his meeting with Draper Dragon, expressing confidence in their strategy and partnership. The Orion Fund introduces a structured investment model, marking a significant shift from traditional grant-based funding. It targets a total size of at least $80 million, with future allocations subject to governance approval. This initiative is expected to enhance Cardano's competitive edge by attracting high-quality startups and institutional support.