Crypto Updates

Leading Crypto Teams and Investors Launch $50 Million Cross-Chain Fund Powered by Wormhole

Leading Crypto Teams and Investors Launch $50 Million Cross-Chain Fund Powered by Wormhole

May 18, 2023 – Miami, Florida

Borderless Capital is the manager behind this new fund. Investors include Jump Crypto, Aptos Labs, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR and Arrington Capital, among other institutions.

Over 20 blockchain teams and venture funds have teamed up to launch a $50 million cross-chain ecosystem fund focused on backing and growing new startups that leverage the Wormhole cross-chain messaging protocol.

The Cross-Chain Ecosystem Fund is being managed and operated by Borderless Capital, a leading venture capital firm in the Web 3.0 space.

Backed by top blockchain protocols, infrastructure providers and institutional investors, the fund aims to support cross-chain innovations that will drive the growth and adoption of the Web 3.0 industry.

The Cross-Chain Ecosystem Fund is backed by Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Sei Foundation, Algorand Foundation, CLabs (the company behind the Celo Blockchain), the Moonbeam Foundation, Optimism, Circle, MultiCoin GP’s Tushar Jain and Kyle Samani, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund,, Forbole Ventures, Syncnode, Inotel, Triton One, Strangelove, Securitize’s CEO Carlos Domingo and OtterSec, among others.

Navigating the Web 3.0 landscape is becoming increasingly challenging due to the proliferation of numerous layer one blockchains, layer two scaling solutions and specialized appchains with unique purposes and parameters.

This complexity poses difficulties for users and alienates developers who are restricted from accessing a single ecosystem, hindering their growth.

The Cross-Chain Ecosystem Fund seeks to unlock the full potential of a cross-chain future, aiming to redefine users’ experiences and establish Wormhole as the cross-chain standard for builders to transcend the limitations of individual ecosystems.

This innovation prioritizes aggregation, security, scalability, compatibility and composability.

David Garcia, CEO and managing partner of Borderless Capital, said,

“We believe in a borderless Web 3.0 future and are thrilled to have the support of our partners and investors who share our vision. In the same way that in Web 2.0 the value was created through aggregating the relationship with the users, we believe that in Web 3.0 this is the natural next step.

“Our goal is to empower builders to transcend the limitations of individual ecosystems,…

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