VC firm Borderless Capital launches $500 M for decentralized projects on the Algorand blockchain

VC firm Borderless Capital launches $500 M for decentralized projects on the Algorand blockchain

The $500 million Borderless ALGO Fund II was unveiled today by Borderless Financing, a Miami-based startup capital firm focused on the Algorand ecosystem. The new Fund will invest in digital assets that will power Algorand’s next generation of decentralised applications.

The company emphasized nonfungible token (NFT) and decentralised finance (DeFi) projects, in particular, stating that it is looking to explore ways to use NFTs to “disrupt the creators economy” while also expediting financing into Algorand’s DeFi ecosystem.

Borderless Capital currently manages $400 million in Alogrand focused funds in addition to the new $500 million funds. PlanetWatch, a decentralised air quality monitoring network built on Algorand, closed a $10 million fund earlier this month. According to Coingecko, the price of ALGO has risen 470 percent in the last year to $1.86 at the time of writing.

Borderless Capital is a prominent Algorand-focused investor. With this Fund II, the firm is doubling down on its commitment to the ecosystem compared to the Borderless ALGO Fund I, which raised $200 million in the first round. ALGO’s all-time high occurred more than two years ago when it briefly surpassed $3.50 in June 2019 before plummeting below $1.

Borderless’ move coincides with the launch of Hivemind Capital Partners by former Citi executive Matt Zhang. A $1.5 billion multi-strategy fund focused on prospective crypto investments like infrastructure, virtual worlds, and programmable money.

Algorand is now one of the most efficient next-generation blockchain software in the market. It also represents the next frontier in terms of investment prospects and disruption. By utilising the Algorand protocol and open-source software, the Algorand Foundation is dedicated to realising the worldwide promise of blockchain technology.

This new Fund will invest in digital assets that will power the next generation of decentralised applications built on top of Algorand, such as opportunities to disrupt the creators’ economy with NFTs and accelerate the growth of capital in the ALGO DeFi ecosystem through liquidity mining, yield farming, and borrowing and lending.

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