- BFF Fund II from Blockchain Founders Fund is a $75 million fund for Web3 startups.
- The fund’s backers include Polygon, Ripple and NEO Global Capital (NGC).
- The BFFs launched their BFF Fund in 2018 and have invested in over 100 projects including Splinterland.
Blockchain Founders Fund (BFF), an early stage Web3 venture capital fund based in Singapore, has announced the final closing of its second fund.
While BFF announced the principal close of its Fund II in early 2022, the latest announcement is a final close that includes participation from leading crypto-focused investors, institutions and family offices.
per company, which disclosed growth through a Press releaseParticipants in the $75 million fund include polygon, Ripple and NEO Global Capital (NGC). As Thrown light on Last September, it invested in BFF as part of its goal towards driving global blockchain adoption.
The others were Appworks, The Sandbox COO Sebastian Borget and MetaVest Capital.
BFF Fund invests in early stage Web3 startups
The Singapore-based fund will use the financing to support pre-seed and seed rounds of top startups in Web3 and blockchain.
According to BFF Managing Partner Elli Madhavji, the fund has already invested in projects that are currently reshaping the Web3 ecosystem.
,As we close this fund, we are committed to supporting the next generation of visionary entrepreneurs who are shaping the future of Web3 and blockchain technologies. Together, we can build a more decentralized, transparent and fair world,” He added.
The BFF Fund Fund was launched in 2018, and has so far seen investments in over 100 startups, with half of these coming in the past year despite the crypto winter.
Startups benefiting from BFF’s support include multiplayer collectible card game Splinterlands, artificial intelligence (AI) metaverse protocol Altered State Machine, and token management platform Magna.
As informed of Earlier this year, BFF led a $500,000 seed round for blockchain platform Koinos.