IOST Foundation is the non-profit entity that governs the IOST blockchain protocol – a Layer 1 network designed for high-throughput decentralized applications, particularly in the internet-of-services sector. Founded in 2018 and headquartered across the United States and Singapore, the Foundation oversees protocol development, ecosystem grants, and strategic investments in projects building on or adjacent to the IOST network. Its venture activity is primarily ecosystem-driven: it backs teams that expand the utility of the IOST chain rather than operating as a generalist crypto fund.
The Foundation raised approximately $35 million through a public token sale in early 2018, with the IOST token (IOS) listed on major exchanges shortly thereafter. That capital base funds ongoing protocol work, developer incentives, and early-stage investments. The Foundation's investment thesis centers on gaming, DeFi, and NFT infrastructure – sectors where IOST's high throughput (claimed at over 8,000 TPS via its Proof of Believability consensus) offers a technical advantage over more congested chains.
Notable investments
Public information about specific portfolio companies is limited. The Foundation has publicly disclosed six portfolio investments as of 2024, but detailed deal terms and project names are not consistently disclosed in open sources. Historically, IOST Foundation grants and investments have supported DeFi protocols, blockchain gaming studios, and NFT marketplace infrastructure built on the IOST network. A full portfolio list is not available in verified public filings or press releases at the time of writing.
Team
IOST was co-founded by a team of eight including Jimmy Zhong (CEO), Terrence Wang, Ray Xiao, Kelvin Tan, Justin Li, Thomas Li, and Sa Wang. Several co-founders previously worked at Google, Uber, and Tencent, according to the project's early documentation. Jimmy Zhong has served as the primary public face of the Foundation since launch. Current managing partner structure for the venture arm is not publicly disclosed.
Recent activity
Public reporting on IOST Foundation's venture activity in 2024–2025 is sparse. The IOST blockchain has maintained a smaller market presence relative to its 2018 peak, and the Foundation's investment cadence appears to have slowed accordingly. No major new fund announcements or headline portfolio deals have been reported in the 12–18 months prior to this writing. The team has continued protocol maintenance and occasional ecosystem grant rounds, but strategic pivots or new investment vehicles have not been announced publicly.
IOST Foundation occupies a niche position: it is neither a large generalist crypto VC nor a purely protocol-focused foundation. Its future as an active investor depends heavily on whether the IOST chain attracts renewed developer and user activity. For current portfolio details and announcements, the most reliable source remains the official IOST website and the project's GitHub repositories.