What would you do with $75M? Check out who's putting money into Web3.
Singapore-based Blockchain Founders Fund has launched a new venture capital fund to support emerging projects in the cryptocurrency, metaverse and Web3 sectors, offering further evidence that investors are still keen to back major growth trends in the digital asset market.
Blockchain Founders Fund II, also known as BFF II, has raised $75 million from various investors across the blockchain and crypto industry, including NEO Global Capital, Appworks, Baksh Capital, Octava and The Sandbox chief operating officer Sebastien Borget. BFF II has already deployed capital across 11 projects, including a layer-two derivatives exchange, several play-to-earn games and a DeFi protocol.
BFF II is focused primarily on crypto, blockchain, Web3 and metaverse projects. The fund is also prepared to offer an additional $5 million to successful startups that make it to subsequent funding rounds. BFF partner Mansoor Madhavji told Cointelegraph that “operational experience” is an important consideration when selecting which companies to support. All the companies receiving financial backing"have demonstrated strong product market fit [and] are able to set trends in the crypto space,” he said.