CoinDesk reported that Borderless Capital has launched a $500 million ALGO Fund II to support the development of decentralized finance (DeFi) and non-fungible token (NFT) projects on the Algorand blockchain. The fund will invest in digital assets that power decentralized applications, including projects aimed at disrupting the creator economy and enhancing the DeFi ecosystem through liquidity mining, lending, borrowing, and yield farming. Borderless Capital previously launched a $200 million ALGO Fund I in 2019, investing in over 100 companies. This announcement follows a $1.5 billion venture fund launch by former Citi exec Matt Zhang, with Algorand as a strategic partner.
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