Jump Crypto, Arrington Capital, the Solana Foundation, and Aptos Labs are also participating as investors in the fund.
Borderless Capital, a venture capital firm based in Miami, is spearheading a $50 million fund that aims to support projects focused on creating innovative solutions for cross-chain technology. This was announced in a press release.
The fund will utilize Wormhole, a protocol that allows different blockchains to communicate and share information. This enables the portfolio companies supported by the fund to effectively collaborate and utilize Wormhole as their cross-chain solution, as explained by Borderless Capital.
The press release stated that the rapidly expanding Web3 landscape has become more complex with the presence of various blockchains, scaling solutions, and specialized appchains. This complexity creates challenges for users and developers, limiting their access to a single ecosystem and hindering their growth.
Other supporters of the fund include Jump Crypto, Arrington Capital, the Solana Foundation, and Aptos Labs, among other organizations.
Dan Reecer, head of operations at the Wormhole Foundation, stated that in the emerging crypto industry, there is ample room for growth and collaboration. Regardless of personal preferences for specific networks, it is important for everyone to work together.
This information is for general knowledge only and should not be considered as advice for investing or making financial decisions.