Venture capital company Borderless Capital, which specializes in the Algorand blockchain ecosystem, has announced it is launching its $500 million Borderless ALGO Fund II.
According to the press release shared by the company, the fund will “invest in digital assets that support the next generation of decentralized applications on Algorand.”
Among the main directions in the company, the areas of NFT and DeFi have been highlighted.
The company launched in June 2019 the Borderless ALGO Fund I, which initially raised $200 million.
Founding Partner Managing Partner David Garcia said:
“We created Borderless Capital in November 2018, even before the launch of the Algorand mainnet. It’s amazing how the ecosystem has expanded since then, but we believe this is just the beginning and there is plenty of room for growth.”
Through a family of funds focused on Algorand-related projects, the company manages $400 million in assets.
Over the past two and a half years, Borderless Capital has invested in more than 100 companies. Some of the companies that received support from Borderless ALGO Fund I include Yieldly.Finance, Reach, AlgoMint, Runtime Verification, HummingBot, HexTrust, Opulous, Six Clovers, Securitize, BlockDaemon, IntoTheBlock, Flare Network, Osprey Funds and many others.
The company is also involved in four acceleration programs for projects at Algorand in Asia, Europe and North America.