We are very pleased to join forces with Algo Capital, a new $200 million venture fund founded by David Garcia and Arul Murugan. We have invested in the fund, which will focus on the Algorand ecosystem.
See Coindesk: Arrington XRP Backs Fund’s $200 Million Raise for Algorand Blockchain
We join our friends at the Algorand Foundation, Neo Global Capital, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r, Wibson, 11-11 Ventures, DG Ventures, Winslow Strong, Invermaster and other investors in supporting this new fund.
Algo Capital only takes commitments in Algos, much like our own XRP-only policy. We are very excited to be investors in the new fund, and look forward to co-investing in new blockchain projects with them in the future.
Additional coverage:
The Block: Bakkt investor backs $200M VC fund focused on Algorand blockchain
Finance Magnates: Algo VC Fund Raises $200M to Promote Algorand Blockchain
Yahoo Finance: Arrington XRP Backs Fund’s $200 Million Raise for Algorand Blockchain
BusinessWire: Algo Capital Closes Algo VC Fund at $200 Million
hypepotamus: ATLANTA-BASED VCS RAISE $200M BLOCKCHAIN FUND
Blockchain News: Algo Capital Closes Algo VC Fund at $200 Million – Doubling Expected $100 Million
