• A group of blockchain teams and venture funds have launched a $50 million cross-chain ecosystem fund to back new startups using the Wormhole protocol.
• The fund is managed by Borderless Capital and has over 20 investors, including Jump Crypto, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR and Arrington Capital.
• The goal of the fund is to unlock the full potential of a cross-chain future by promoting aggregation, security, scalability, compatibility and composability.
Cross-Chain Ecosystem Fund Launch
A group of blockchain teams and venture funds have joined forces to launch a $50 million cross-chain ecosystem fund focusing on supporting growth in new startups leveraging the Wormhole cross-chain messaging protocol. This fund is powered by Borderless Capital and backed by top blockchain protocols, infrastructure providers and institutional investors.
Investors
Over 20 investors are part of this initiative including Jump Crypto, Aptos Labs, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR and Arrington Capital among others.
Goal
The goal is to drive growth and adoption for Web 3.0 industry through unlocking the full potential of a cross-chain future that prioritizes aggregation, security, scalability, compatibility and composability .
Challenges for Users & Developers
Navigating the Web 3.0 landscape can be challenging due to many layer one blockchains as well as layer two scaling solutions which create difficulties for users as well as alienates developers from accessing just one single ecosystem which can hinder their growth potential .