- Blockchain Founders Fund’s BFF Fund II is a $75 million fund for Web3 startups.
- Backers of the fund embody Polygon, Ripple and NEO World Capital (NGC).
- BFF launched its BFF Fund in 2018 and has invested in over 100 tasks, together with Splinterlands.
Blockchain Founders Fund (BFF), a Singapore-based early stage Web3 enterprise capital fund, has introduced the ultimate shut of its second fund.
Whereas BFF introduced the principal shut of its Fund II in early 2022, the newest announcement is a closing shut that included the participation of main crypto-focused traders, establishments and household places of work.
Per the corporate, which revealed the event through a press release, contributors within the $75 million fund embody Polygon, Ripple, and NEO World Capital (NGC). As highlighted final September, Polygon invested in BFF as a part of its objective in the direction of world blockchain adoption.
Others had been Appworks, The Sandbox COO Sebastien Borget and Metavest Capital.
BFF Fund invests in early stage Web3 startups
The Singapore-based fund will use the financing to help the pre-seed and seed rounds of high startups throughout Web3 and blockchain.
Based on BFF managing accomplice Aly Madhavji, the fund has already invested in tasks which are at the moment reshaping the Web3 ecosystem.
“As we shut this fund, we stay dedicated to supporting the following technology of visionary entrepreneurs who’re shaping the way forward for Web3 and blockchain applied sciences. Collectively, we are able to construct a extra decentralized, clear, and equitable world,” he added.
The BFF Fund fund launched in 2018, and has up to now seen investments in additional than 100 startups, half of those coming previously yr regardless of the crypto winter.
Startups which have benefited from BFF’s help embody multiplayer collectible card sport Splinterlands, synthetic intelligence (AI) metaverse protocol Altered State Machine, and token administration platform Magna.
As reported earlier this yr, BFF lead a $500,000 seed spherical for blockchain platform Koinos.