The Fund currently supports more than 100 startups with its investments.
Blockchain Founders Fund (BFF), a Singapore-based venture capital fund that invests in top-tier blockchain startups worldwide, recently generated $75 million in its recently-closed Fund II. The VC fund announced the final close of its Fund II on February 27, following the principal close in early 2022.
Blockchain Founders Fund Closes Fund II
According to the press release on the Fund II conclusion by 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. The Sandbox chief financial officer Sebastien Borget was also a participant in financing. With $75 million in the bag, Blockchain Founders Fund plans to “support high growth potential pre-seed and seed stage Web3 and blockchain startups. The company has always assisted top innovative startups in the Web3 space since its launch in 2018. In its five years of existence, Blockchain Founders Fund has multiple significant investments to its name, and the Fund II closing is indeed 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 close of its Fund II, BFF has made 50 investments over the past year amid the bear market and economic uncertainty. Its venture program offers support for different kinds of businesses, enabling the group to work closely with portfolio founders. The program focuses on pushing startups to become successful through fundraising, marketing, and more. While it has access to portfolio founders, Blockchain Founders Fund has also amassed over 350 executive advisors in its Expert Network. Members are exposed to resources and become firm in the blockchain industry through network connections.
Comments on BFF’s Funding
Two partners at 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 response 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 a leader in the space. Our firm has diligently accumulated a comprehensive set of resources and tools over the course of four years to provide the best possible environment for companies to succeed.”
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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
