Blockchain Founders Fund Announces Fund II Final Close at $75M

Blockchain Founders Fund (BFF), a Singapore-based venture capital fund that invests in top-notch blockchain startups worldwide, recently raised $75 million in its recently closed Fund II. The VC fund announced the final close of its Fund II on February 27, after the main close in early 2022.

Blockchain Founders Fund closes fund II

According to the press release on the Fund II conclusion of the Blockchain Founders Fund, key investors, family offices and institutions contributed to the funding. They include Ripple, Appworks, Octava, Polygon, NEO Global Capital (NGC), LD Capital, Metavest Capital and GSR. Sandbox’s financial manager Sebastien Borget was also a participant in the financing. With $75 million in the bag, the Blockchain Founders Fund plans to “support high growth potential pre-seed and seed stage Web3 and blockchain startups. The company has always helped top innovative startups in the Web3 space since its launch in 2018. During the five years of its existence, Blockchain Founders Fund has several significant investments behind it, and the Fund II closing is truly a milestone for the team.

The fund currently supports more than 100 startups with its investments. New Zealand-based AI Metaverse company Altered State Machine (ASM), Magna, Splinterlands and more are beneficiaries of the venture capital fund. Ahead of the final closure of Fund II, BFF has made 50 investments in the past year amidst the bear market and economic uncertainty. Its venture program offers support to different types of businesses, allowing the group to work closely with portfolio entrepreneurs. The program focuses on pushing startups to succeed through fundraising, marketing and more. While it has access to portfolio founders, Blockchain Founders Fund has also gathered over 350 executive advisors in its expert network. The members are exposed to resources and become permanent in the blockchain industry through network connections.

Comments on BFF’s funding

Two partners in the Blockchain Founders Fund, Mansoor Madhavji and Tobias Bauer, weighed in on the Fund II conclusion. Madhavji emphasized the integral role of relationship development at BFF. He noted that BFF aims to build an environment that embraces mutual responsiveness and shared goals. The BFF partner also mentioned that the community takes pride in supporting each other’s businesses and successes. Bauer stated:

“I am very excited to continue working closely with our portfolio companies and support them with all necessary tools to become industry leaders. Our firm has diligently accumulated a comprehensive set of resources and tools over four years to provide a best possible environment for businesses to succeed.”

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