Polygon’s investment into BFF’s Fund II will hasten blockchain development and foster mainstream adoption
SINGAPORE, Sept. 30, 2022 /PRNewswire/ — Blockchain Founders Fund (BFF), a Singapore-based Venture Capital Fund that focuses on early-stage Web3 and blockchain startups globally, today announces that Polygon, an Ethereum scaling platform onboarding millions to Web3, has made a strategic investment into their Fund II to diversify the company’s holdings and advance the mainstream adoption of blockchain technology.
Blockchain Founders Fund boasts an impressive portfolio of over 100 companies in the Web3 space with an equally impressive track record of effectively scaling them to targeted audiences. These companies include blockchain-powered no-code gaming studios (GRID), social intelligence for cryptocurrencies (LunarCrush), and various other applications built on top of blockchain infrastructure.
The fund II, which focuses on promising Web3, and metaverse startups, launched in January after raising $75 million from a host of leading crypto investors. Included among participating investors were NEO Global Capital (NGC), Appworks, Sebastien Borget, COO of The Sandbox, and Polygon co-founder Sandeep Nailwal.
This latest partnership marks another successful collaboration between BFF and Polygon. Previously, BFF has co-invested alongside Polygon in top blockchain companies such as Splinterlands and Altered State Machine to accelerate and empower decentralized applications. This collaboration will enable both companies to offer exceptional value propositions to web3 founders and entrepreneurs with high potential to disrupt industries.
Sandeep Nailwal, Co-Founder of Polygon said, “To bring the vision of Web3 to realization and help garner mainstream adoption, it’s vital that we support entrepreneurs in building innovative products and infrastructure. We look forward to working alongside Blockchain Founders Fund, who share our vision and believe in the transformative potential of Web3.”
Boasting just over 37,000 decentralized applications (dapps), Polygon is fast becoming the de facto platform for Web3. The network offers an array of blue-chip services ranging from decentralized finance (DeFi) dapps such as Aave, Curve, Balancer, and Uniswap, to the best gaming and metaverse platforms, including Decentraland, Somnium Space, and The Sandbox. Polygon also powers the mass market, helping major global brands, including Starbucks, Adobe, Clinique, and others, integrate Web3 functionality.
“The addition of one of the biggest crypto firms such as Polygon as a partner will expand our investment profile and ability to invest in a wider range of early-stage companies,” commented Aly Madhavji, Managing Partner of Blockchain Founders Fund. “Their expertise in the industry will greatly assist us in connecting with the best breed of high-potential companies that are building real solutions to real problems.”
Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 1.94B+ total transactions processed, 164M+ unique user addresses and $5B+ in assets secured. The network is home for some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known enterprises including Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
Blockchain Founders Fund (BFF) is a Singapore based early-stage Venture Capital Fund which invests in top-tier Blockchain startups globally. Their industry leading go-to-market focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast-track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the Web3 and Blockchain ecosystems.
SOURCE Blockchain Founders Fund