Polygon partners with Blockchain Founders Fund to empower Web3 entrepreneurs

Polygon’s investment in BFF’s Fund II will accelerate the development of blockchain and promote mainstream adoption

SINGAPORE, 30 September 2022 /PRNewswire/ — Blockchain Founders Fund (BFF), a Singapore-based venture capital fund focused on early-stage Web3 and blockchain startups globally, today announced that Polygon, an Ethereum scaling platform bringing millions to Web3, has made a strategic investment in their Fund II to diversify the company’s holdings and advance mainstream- the adoption of blockchain technology.

Blockchain Founders Fund has an impressive portfolio of over 100 companies in the Web3 space with an equally impressive track record of effectively scaling them to targeted audiences. These companies include blockchain-powered no-code gaming studios (GRID), social intelligence for cryptocurrencies (LunarCrush), and various other applications built on top of blockchain infrastructure.

Fund II, which focuses on promising Web3 and metaverse startups, was launched in January after raising 75 million dollars from a number of leading crypto investors. Included among participating investors were NEO Global Capital (NGC), Appworks, Sebastien BorgetCOO of The Sandbox, and Polygon co-founder Sandeep Nailwal.

This latest partnership marks another successful collaboration between BFF and Polygon. In the past, BFF has co-invested with Polygon in top blockchain companies such as Splinterlands and Altered State Machine to accelerate and empower decentralized applications. This collaboration will enable both companies to offer exceptional value propositions to web3 entrepreneurs and entrepreneurs with great potential to disrupt industries.

Sandeep Nailwal, Co-Founder of Polygon said: “To bring the vision of Web3 to fruition and help achieve mainstream adoption, it is essential that we support entrepreneurs in building innovative products and infrastructure. We look forward to working with Blockchain Founders Fund, which shares our vision and belief in the transformative potential of Web3.”

With just over 37,000 decentralized applications (dapps), Polygon is quickly becoming the de facto platform for Web3. The network offers a variety of blue-chip services ranging from decentralized finance (DeFi) dapps such as Aave, Curve, Balancer and Uniswap, to top gaming and metaverse platforms including Decentraland, Somnium Space and The Sandbox. Polygon also drives the mass market, helping major global brands including Starbucks, Adobe, Clinique and others integrate Web3 functionality.

“The addition of one of the largest crypto firms like Polygon as a partner will expand our investment profile and ability to invest in a wider range of early stage companies,” commented Aly Madhavji, managing partner of the Blockchain Founders Fund. “Their expertise in the industry will greatly help us connect with the best breed of high-potential companies that are building real solutions to real problems.”

About polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for the Web3. The growing suite of products gives developers easy access to large scale solutions, including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, standalone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 1.94B+ total transactions processed, 164M+ unique user addresses, and $5B+ in assets secured. The network is home to some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known companies including Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

About Blockchain Founders Fund

Blockchain Founders Fund (BFF) is one Singapore based early stage venture capital fund investing in top tier Blockchain startups globally. Their industry-leading go-to-market-focused Venture Program helps experienced and first-time entrepreneurs across key business functions accelerate growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the Web3 and Blockchain ecosystems.

Media contact:

Michiko Yuda
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SOURCE Blockchain Founders Fund