Blockchain Founders Fund, a venture capital fund supporting the adoption of Web3 and blockchain technology, announced the completion of a USD 75 million fundraising round from Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital, and Sebastien Borget, Chief Operating Officer of The Sandbox.
According to the announcement, the fund will focus on supporting high-potential early-stage pre-seed and seed projects that drive mass adoption of Web3 and blockchain technology.
In an interview with Cointelegraph, Aly Madhavji, managing partner of Blockchain Founders Fund, shared that the venture capital fund will potentially expand to more than 200 companies over the next 12 months. Speaking about the requirements and pathways for Web3 startups to request funding from Blockchain Founders Fund, Madhavji said it will focus on early-stage Web3 companies with strong teams and the ability to realize their vision.
