Blockchain Founders Fund raises $75M to encourage Web3 mass adoption

Blockchain Founders Fund, a task superior money supporting the adoption of Web3 and blockchain technology, has announced the adjacent of a $75 cardinal fundraising circular from companies specified arsenic Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital and others, specified as Sebastien Borget, main operating serviceman of The Sandbox.

According to the announcement, the money volition focus connected supporting high-potential early-stage pre-seed and effect projects that promote the wide adoption of Web3 and blockchain technology. The money has already invested successful implicit 100 startups, including Altered State Machine, Splinterlands, GRID, Krayon and Magna. 

In an interrogation with Cointelegraph, Michiko Yuda, selling coordinator astatine Blockchain Founders Fund, shared that the task superior money volition perchance beryllium dispersed crossed much than 200 companies wrong the adjacent 12 months. 

Speaking connected the requirements and ways Web3 startups tin question backing from the Blockchain Founders Fund, Yuda shared that it volition absorption connected early-stage Web3 companies with beardown teams and a demonstrated quality to execute their vision. In addition, the projects indispensable connection products oregon services that lick existent marketplace needs and connection wide pathways for gross procreation oregon monetization implicit time. The projects indispensable besides person a clear, viable concern program that demonstrates a coagulated knowing of the people marketplace and competitory landscape.

Discussing immoderate of the large challenges successful the crypto task capitalist scenery and however the Blockchain Founders Fund is helping to code them, Yuda shared: “There is simply a precocious level of contention for deals successful the space, regulatory uncertainty, arsenic good arsenic a constricted way grounds of palmy projects. In bid to code these challenges, we absorption connected making investments successful high-quality startups that person beardown fundamentals and show coagulated indications of traction."

Yuda besides told Cointelegraph that the Blockchain Founders Fund takes a team-centric attack erstwhile evaluating investments to guarantee that lone well-rounded teams are chosen for funding. He added: 

"We instrumentality indispensable precautions to navigate regulatory uncertainty by staying abreast with emerging trends successful blockchain governance arsenic they proceed to germinate implicit time. Finally, we leverage our manufacture connections, including starring institutions and investors successful the abstraction to assistance our portfolio companies succeed.” 

Related: Angel investors vs. task capitalists

On Feb. 24, Cointelegraph covered a study describing a pullback successful task superior spending by investors in Q4 2022. But contempt the pullback, investors are inactive looking to bankroll blockchain-based technologies, applications and startups.

The study besides suggests that task superior investments are shifting toward “non-volatile innovations,” including cross-chain bridges, payments and remittances, lending, decentralized autonomous organizations, plus absorption and integer individuality management.