- Blockchain Founders Fund’s BFF Fund II is a $75 million fund for Web3 startups.
- Backers of the fund embrace Polygon, Ripple and NEO International Capital (NGC).
- BFF launched the BFF Fund in 2018 and has invested in over 100 initiatives, together with Splinterlands.
Blockchain Founders Fund (BFF), an early-stage Web3 enterprise capital fund based mostly in Singapore, has introduced the ultimate closing of its second fund.
The BFF introduced the key shut of Fund II in early 2022, however the newest announcement is the ultimate shut, which incorporates the participation of main crypto-focused traders, establishments, and household workplaces.
Members within the $75 million fund embrace Polygon, Ripple and NEO International Capital (NGC), in keeping with the corporate, which revealed the event by way of a press launch. As highlighted final September, Polygon invested in BFF as a part of its objective in direction of world blockchain adoption.
Others have been Appworks, Sebastien Borget, COO of The Sandbox, and Metavest Capital.
BFF Fund invests in early-stage Web3 startup
The Singapore-based fund will use the funds to help pre-seed and seed rounds of prime Web3 and blockchain startups.
In keeping with BFF Managing Associate Aly Madhavji, the fund has already invested in initiatives which are at the moment reshaping the Web3 ecosystem.
“As we shut this fund, we’re dedicated to supporting the following technology of visionary entrepreneurs who’re shaping the way forward for Web3 and blockchain expertise.Collectively we will construct a extra decentralized, clear and honest world,” he added.
The BFF Fund fund was launched in 2018 and has invested in over 100 startups thus far. Half of that has occurred up to now yr, regardless of the crypto winter.
Startups which have benefited from BFF help embrace multiplayer collectible card recreation Splinterlands, synthetic intelligence (AI) metaverse protocol Altered State Machine, and token administration platform Magna.
As reported earlier this yr, BFF led a $500,000 seed spherical for blockchain platform Koinos.
