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Borderless Capital launches half-billion-dollar fund for Algorand projects

Borderless Capital launches half-billion-dollar fund for Algorand projects

Borderless Capital intends to use its $500 million fund to support “next-generation”decentralized projects on the Algorand blockchain, the Cointelegraph reports.

Venture capital firm Borderless Capital has launched a $500 million fund to support projects built on the Algorand blockchain. According to a statement from the Miami-based company, the Borderless ALGO Fund II will focus on supporting digital assets that enable “next-generation”decentralized applications (DApps) on Algorand. The company highlighted projects related to NFT and DeFi, noting that it is looking at opportunities to “disrupt the creator economy” through NFT and accelerate the growth of funding in Algorand's DeFi ecosystem. The move from Borderless came the same week that former Citi executive Matt Zhang introduced Hivemind Capital Partners –s $1.5 billion multi-strategy fund focused on promising cryptocurrencies such as infrastructure projects, virtual worlds and programmable money on Nov. 29. As part of the announcement, it was also revealed that Hivemind's first technology partner was Algorand. Algorand – is a decentralized open-source blockchain that was launched in mid-2019 by computer scientist Silvio Micali. The blockchain was designed for speed, security and stability, and it has been called a competitor to Ethereum amid the rapid growth of ALGO in 2021.  

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