Borderless Capital, a venture capital firm dedicated to supporting the Algorand ecosystem, has announced the launch of a new $ 500 million fund that will invest in Algorand-based DeFi projects.
In June 2019, Borderless Capital launched the first $ 200 million ALGO Fund. The new fund was named Borderless ALGO Fund II, and the funds will be invested in “new generation decentralized projects.”
“We opened Borderless Capital in November 2018, before even the main Algorand chain had yet to launch. It’s amazing how much the Algorand ecosystem has grown since then, but we are confident that this is just the beginning and there is huge potential for further growth, ”said David Garcia, managing partner at Borderless Capital.
In addition to decentralized finance projects, investments will be made in collectible token (NFT) projects.
“Algorand is the most efficient blockchain on the market and can provide a new level of investment opportunity. Our Borderless ALGO Fund II will enable us to continue to be at the forefront of progress, develop the ecosystem and drive innovation, ”said Arul Murugan, another managing partner at Borderless Capital.
In mid-November, it was reported that the Algorand Foundation and the Singapore Blockchain Association entered into a strategic partnership to develop the blockchain industry in Singapore and Southeast Asia.
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