Join Our Mailing List
Sunday January 29, 2023
Bitcoin (BTC) $23,333.25   Ethereum (ETH) $1,600.86
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Capital Raising

Algorand blockchain accelerator closes Algo VC fund at $200 million

Backed by investors including Brainchild, NGC Ventures, Arrington XRP Capital, Eterna Capital, and GSR, Algo VC fund invests in category-leading businesses that are building on the Algorand blockchain technology platform

Published by CryptoNinjas.net
08/27/2019
Algorand blockchain accelerator closes Algo VC fund at $200 million

Algo Capital, the financial institution focused on accelerating access, adoption, and liquidity of the Algo, the native digital currency of the Algorand blockchain, today announced the closing of its Algo VC Fund at $200 million, surpassing the firm’s original goal of $100 million.

The fund will invest in category-leading businesses that are building on the Algorand technology platform and seeks to accelerate the use and acceptance of the Algo as a means of payment.

Backing

It is backed by a collection of experienced financial and blockchain industry investors across North America, Latin America, Asia and Europe, including Brainchild, NGC Ventures (the venture arm of NEO Global), Arrington XRP Capital, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r Inc, Wibson, 11-11 Ventures, DG Ventures, Winslow Strong, Invermaster and many others.

Founded and led by veteran blockchain investor David Garcia, entrepreneur-turned-VC Arul Murugan, and blockchain technology expert Pablo Yabo, Algo Capital builds modern financial products to power Algorand’s borderless economy. It is a separate independent entity from both the Algorand Foundation and Algorand LLC, which developed a pure proof-of-stake protocol that is the first of its kind capable of supporting billions of users and transactions on the blockchain.

As the venture arm of Algo Capital, the Algo VC fund is based on an investment strategy of creating and capturing value across all levels of the Algorand tech stack: the blockchain protocol, the infrastructure and the applications built on Algorand. Besides holding a large stake in Algos, the fund invests in emerging disrupters with proven business models, scalable revenue, and a clear path toward profitability.

Initial portfolio companies include:

  • Securitize – a security token issuance platform
  • IDEX – a popular decentralized exchange
  • BlockDaemon – a blockchain infrastructure and middleware orchestration platform
  • OTCXN – an institutional exchange and cross-custodian settlement platform

Each of the portfolio companies is working closely with Algorand to leverage its platform for speed, security, and feature development.

Accelerating Algo Use

Toward its goal of accelerating the use and acceptance of the Algo as a means of payment, all commitments to the Algo VC Fund were accepted in Algos rather than U.S. dollars and the Algo is the primary currency for all capital calls. Additionally, a portion of the firm’s capital investments is comprised of Algos, which allows portfolio companies to make use of the digital currency as a means of payment within the Algorand network.

With an eye toward the continued growth of the Algo VC Fund, the Algo Capital team is also exploring joint ventures with several venture studios and accelerators around the globe.

These studios each support hundreds of early-stage startups across the world, and through these partnerships, Algo Capital will bring further investment to fledgling blockchain-based businesses in North America, Latin America, Europe, and Asia.

“Our investment approach specifically targets companies that are creating the next great blockchain applications and infrastructure solutions, and as a result, helping to speed blockchain adoption and bring millions of new users into the Algorand network. That’s how Algo Capital contributes to the growth and investment of Algorand’s borderless economy and enables maximum value capture for Algo VC Fund investors.”
– Arul Murugan, founder and managing partner, Algo Capital

38
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Via: algo.capital

Related News

Venue One: new blockchain-powered predictions exchange deploying on Algorand

07/07/2022
Venue One: new blockchain-powered predictions exchange deploying on Algorand

Venue One, a new blockchain-powered predictions exchange will soon launch live operations on Algorand. Deploying on the Algorand chain will enable Venue One to deliver super speed, flexibility, and security. In May of 2022,...

Read more

Algorand oracle network Goracle teams with blockchain development firm HEADLINE

06/14/2022
Algorand oracle network Goracle teams with blockchain development firm HEADLINE

Goracle (recently re-branded from Algoracle), a decentralized oracle network that is built on Algorand, has announced a new partnership with HEADLINE, a Texas-based blockchain development company. HEADLINE is the creator of developer tooling on...

Read more

Keon selects Algorand as L1 solution for regulated DeFi asset management ecosystem

06/09/2022
Keon selects Algorand as L1 solution for regulated DeFi asset management ecosystem

The directors of the Keon Foundation, which will serve as the virtual asset service provider (VASP) for the Keon Finance Ecosystem (Keon), announced today it will go with Algorand as its layer-1 blockchain. Keon's...

Read more

Decentralized oracle network for Algorand blockchain Algoracle closes $1․5M seed round

05/18/2022
Oracle network for Algorand blockchain Algoracle closed $1․5M seed round

Algoracle, a decentralized oracle network that links the Algorand blockchain to the physical world, announced today it recently closed a seed funding round for $1.5 million (USD) to help accelerate the development and launch...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
6 Best Cloud Mining Platform In 2022

6 Best Cloud Mining Platform In 2022

11/20/2022
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy