Capital venture firm Borderless Capital has launched a fund worth $500 million to support projects building on the Algorand blockchain.
According to a Nov. 30 announcement from the Miami-based company, the Borderless ALGO Fund II will aim to back digital assets powering the “next generation” of decentralized applications (DApps) on Algorand.
The firm highlighted nonfungible token (NFT) and decentralized finance (DeFi) projects in particular, noting that it is looking at opportunities to “disrupt the creators economy” with NFTs while accelerating the growth of funding into Algorand’s DeFi ecosystem.
The move from Borderless comes in the same week that former Citi executive Matt Zhang introduced Hivemind Capital Partners on Nov.29, a $1.5 billion multi-strategy fund focused on promising crypto plays such as infrastructure projects, virtual worlds and programmable money. As part of the announcement, it was also revealed that Hivemind’s first technology partner is Algorand.
