Borderless Capital launched a fund on $500 million for the development of projects based on Algorand – Bits Media

Venture capital firm Borderless Capital, specializing in supporting the Algorand ecosystem, announced the launch of a new fund for $500 million, which will invest in DeFi projects based on Algorand.

In June 2019 Borderless Capital launched its first ALGO Fund, the size of which was $200 million. The new fund is called Borderless ALGO Fund II, and funds will be invested in “decentralized projects of a new generation”.

“We opened Borderless Capital in November 2018 of the year, when even the main Algorand network was not yet launched. Marvelous, how much the Algorand ecosystem has grown since then, but we are sure, that this is just the beginning and there is huge potential for further growth", – said managing partner of Borderless Capital David Garcia (David Garcia).

In addition to decentralized finance projects, investments will be made in collectible token projects (NFT).

“Algorand is the most efficient blockchain on the market, it can provide a new level of investment opportunities. Our Borderless ALGO Fund II will allow us to continue to be at the forefront of progress, develop the ecosystem and attract innovation", – said another managing partner of Borderless Capital Arul Murugan (Arul Murugan).

In mid -November, it was reported, that the Algorand Foundation and the Singapore Blockchain Association have entered into a strategic partnership to develop the blockchain industry in Singapore and Southeast Asia.