May 18, 2023 – Miami, Florida
Borderless Capital is the manager behind this new fund. Investors include Jump Crypto, Aptos Labs, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR and Arrington Capital, among other institutions.
Over 20 blockchain teams and venture funds have teamed up to launch a $50 million cross-chain ecosystem fund focused on backing and growing new startups that leverage the Wormhole cross-chain messaging protocol.
The Cross-Chain Ecosystem Fund is being managed and operated by Borderless Capital, a leading venture capital firm in the Web 3.0 space.
Backed by top blockchain protocols, infrastructure providers and institutional investors, the fund aims to support cross-chain innovations that will drive the growth and adoption of the Web 3.0 industry.
The Cross-Chain Ecosystem Fund is backed by Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Sei Foundation, Algorand Foundation, CLabs (the company behind the Celo Blockchain), the Moonbeam Foundation, Optimism, Circle, MultiCoin GP’s Tushar Jain and Kyle Samani, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund, Moonlet.io, Forbole Ventures, Syncnode, Inotel, Triton One, Strangelove, Securitize’s CEO Carlos Domingo and OtterSec, among others.
Navigating the Web 3.0 landscape is becoming increasingly challenging due to the proliferation of numerous layer one blockchains, layer two scaling solutions and specialized appchains with unique purposes and parameters.
This complexity poses difficulties for users and alienates developers who are restricted from accessing a single ecosystem, hindering their growth.
The Cross-Chain Ecosystem Fund seeks to unlock the full potential of a cross-chain future, aiming to redefine users’ experiences and establish Wormhole as the cross-chain standard for builders to transcend the limitations of individual ecosystems.
This innovation prioritizes aggregation, security, scalability, compatibility and composability.
David Garcia, CEO and managing partner of Borderless Capital, said,
“We believe in a borderless Web 3.0 future and are thrilled to have the support of our partners and investors who share our vision. In the same way that in Web 2.0 the value was created through aggregating the relationship with the users, we believe that in Web 3.0 this is the natural next step.
“Our goal is to empower builders to transcend the limitations of individual ecosystems, paving the way for blockchain applications and protocols to realize their full potential.”
Wormhole, the technological focus of the fund, is a foundational protocol that enables cross-chain messaging of value and data across more than 23 high-value chains, already leveraged by influential protocols and companies like Uniswap, Circle and Base from Coinbase.
Dan Reeder, head of operations at Wormhole Foundation, said,
“Crypto is still a nascent industry with essentially limitless growth opportunity, and we should be doing nothing but working together, regardless of which specific networks individuals may be more passionate about.
“It’s really exciting to see so many ecosystems come together with leading venture funds to unite on solving the interoperability challenge by supporting startups that integrate Wormhole’s cross-chain messaging standard.”
Builders, founders and developers looking to reach across ecosystems can apply to the Cross-Chain Ecosystem Fund here.
Applications will be reviewed by the fund manager, Borderless Capital, starting this month.
About Borderless
Borderless is a leading investment management firm focused on Web 3.0 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders.
Borderless comprises a team of builders, partners and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks.
Since 2018, Borderless has invested in over 200 protocols and companies across infrastructure, business applications and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web 3.0 communities.
For more information, please visit their website.
About Wormhole
Wormhole is the industry standard cross-chain messaging protocol powering applications across Web 3.0.
Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance and more.
Wormhole enables a growing suite of products to build on its messaging layer. Wormhole Connect is an in-app bridging widget that can be integrated in as few as three lines of code.
The wider Wormhole network is trusted and used by teams like Circle (USDC) and Uniswap, and to date, the platform has facilitated the transfer of over $35 billion through hundreds of millions of cross-chain messages.
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