The Miami-based venture capital firm Borderless Capital, that focuses on the Algorand ecosystem, has announced today the launch of it’s $500M Borderless ALGO Fund ||. With this new fund they will be investing in digital assets powering the next generation of decentralised applications on top of Algorand, including opportunities to disrupt the creators economy with NFTs and accelerating the growth of the capital that participates in the ALGO DeFi ecosystem through lending, yield farming, borrowing and liquidity mining.
Being one of the leading Algorand-focused investors, and with the new Fund || the firm doubling down it’s commitment to the ecosystem relative to Fund |, which was launched in June 2019 and has raised $200M.
“ We started Borderless Capital back in November 2018, even before the Algorand MainNet was live. It amazes us to see how the ecosystem has expanded since then, but we believe this is just the beginning and there is a lot of room to keep growing”, stated David Garcia, Founding Managing Partner at Borderless Capital.
In the last two and a half years, Borderless Capital has invested in more then 100 companies, run four global accelerator programs across North America, Asia and Europe, teaming up with a strategic group of local partners, who helped for the growth and the expansion of Algorand’s use cases across the blockchain world. There have been few key companies that Borderless ALGO Fund | backed: HummingBot, AlgoMint, Flare Network, Floating Point Group, HexTrust, Tinyman, IntoTheBlock and many more.
Focusing on the Algorand ecosystem through family of funds, this new fund will add to the existing $400M that the firm already has. They have also launched another $10M PLANETS fund last week, targeting the PlanetWatch network, which is an ecosystem that is built on top of the Algorand blockchain. This fund was backed by individual investors and institutions.
Arul Murugan, Founding Managing Partner at Borderless Capital has stated: “Algorand is the most efficient next generation blockchain software in the market right now, and it is the next frontier for investment opportunities and disruption. Our Borderless ALGO Fund || will continue to be at the forefront of the ecosystem and further ignite the growth by enabling new innovation that is coming to blockchain”.
Steve Kokinos, CEO of Algorand, Inc said: “ The Borderless Capital team has been a longtime supporter of many entrepreneurs, founders, and developers who have built the foundational Algorand ecosystem we have today. As accelerated adoption of Algorand’s technology continues, we are excited to see Borderless fund coming to fruition to support the next wave of DeFi of Algorand”.
“ The Algorand Foundation is excited to support Borderless Capital in the launch of the Borderless Fund ||. Borderless Capital, through their Fund |, has been a key partner in enabling the phenomenal growth of the Algorand ecosystem in the last 2+ years. We are excited to see what amazing businesses and innovation that Fund || will support “ said Sean Lee,CEO, Algorand Foundation.