The venture-capital firm Borderless Capital, focused on the Algorand blockchain ecosystem, announced the launch of Borderless ALGO Fund II, a $500 million fund.
According to the press release, the fund will “invest in digital assets supporting the next generation of decentralized applications on Algorand”.
Among the company’s core areas are NFT and DeFi.
In June 2019, the firm launched Borderless ALGO Fund I, which initially raised $200 million.
“We founded Borderless Capital in November 2018, even before the Algorand mainnet launch. It is striking how the ecosystem has expanded since then, but we believe this is only the beginning and there are many opportunities for growth,” said managing partner and co-founder David Garcia.
Through a family of funds focused on Algorand-related projects, the company manages $400 million in assets.
In just two and a half years, Borderless Capital has invested in more than 100 companies. Among the key portfolio companies backed by Borderless ALGO Fund I: Yieldly.Finance, Reach, AlgoMint, Runtime Verification, HummingBot, HexTrust, Opulous, Six Clovers, Securitize, BlockDaemon, IntoTheBlock, Flare Network, Osprey Funds and many others.
The firm also participates in four accelerator programs for Algorand projects in Asia, Europe and North America.
Earlier, the Algorand team became a strategic partner of Hivemind Capital Partners, launched a $1.5B fund to invest in the crypto industry.
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