Polygon’s investment in BFF’s Fund II will accelerate blockchain development and drive mainstream adoption
SINGAPORE, September 30, 2022 /PRNewswire/ — Blockchain Founders Fund (BFF), a Singapore-based venture capital fund focused on early-stage Web3 and blockchain startups worldwide, today announced that Polygon, an Ethereum scaling platform connecting millions of Web3, has made a strategic investment in its Fund II to diversify the company’s holdings and drive mainstream adoption of blockchain technology.
The Blockchain Founders Fund has an impressive portfolio of over 100 companies in the Web3 space with an equally impressive track record of effectively scaling to target audiences. These companies include blockchain-powered no-code gaming studios (GRID), cryptocurrency social intelligence (LunarCrush), and various other applications built on top of blockchain infrastructure.
Fund II, which focuses on promising Web3 and Metaverse startups, was launched after the January replenishment $75 million by a variety of leading crypto investors. Participating investors included NEO Global Capital (NGC), Appworks, Sebastian BorgetCOO of The Sandbox and Polygon co-founder Sandeep Nailwal.
This latest partnership marks another successful collaboration between BFF and Polygon. Previously, BFF has invested with Polygon in leading blockchain companies such as Splinterlands and Altered State Machine to accelerate and strengthen decentralized applications. This collaboration will allow both companies to offer exceptional value propositions to web3 founders and entrepreneurs with high potential to revolutionize industries.
Sandeep Nailwal, Co-Founder of Polygon said: “To help realize the vision of Web3 and contribute to mainstream adoption, it is vital that we help entrepreneurs build innovative products and infrastructure. We look forward to working with the Blockchain Founders Fund who share our vision and believe in the transformative potential of Web3.”
With just over 37,000 decentralized applications (dapps), Polygon is fast becoming the de facto platform for Web3. The network offers a range of blue chip services ranging from decentralized finance (DeFi) dapps like Aave, Curve, Balancer and Uniswap to the best gaming and metaverse platforms like Decentraland, Somnium Space and The Sandbox . Polygon is also driving the mass market, helping major global brands including Starbucks, Adobe, Clinique and others to integrate Web3 functionality.
“Adding one of the largest crypto firms like Polygon as a partner will broaden our investment profile and ability to invest in a broader range of early-stage companies,” he commented Aly Madhavji, Managing Partner of the Blockchain Founders Fund. “Your expertise in the industry will greatly help us connect with the best, high potential companies developing real solutions to real problems.”
polygon is the leading blockchain development platform, providing scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products gives developers easy access to key scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, standalone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with over 37,000 hosted decentralized applications, over 1.94 billion transactions processed, over 164 million unique user addresses, and over $5 billion in secured assets. The network hosts some of the largest Web3 projects like Aave, Uniswap, OpenSea and well-known companies like Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of moving the Web3 ecosystem towards carbon negative.
About the blockchain start-up fund
Blockchain Founders Fund (BFF) is a Singapore Founded early-stage venture capital fund investing in world-class blockchain startups globally. Their industry-leading, go-to-market focused venture program helps seasoned and first-time entrepreneurs in all key business functions to accelerate growth. BFF has scaled many of the leading blockchain startups and is always looking to connect with exceptional founders across the web3 and blockchain ecosystem.
SOURCE Blockchain Founder Fund