Polygon teams up with Blockchain Founders Fund to empower Web3 entrepreneurs
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.
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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 realize the vision of Web3 and help achieve mainstream adoption, it is important that we support entrepreneurs in building innovative products and infrastructure. We look forward to working with the Blockchain Founders Fund , who share our vision and believe 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.”
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