Singapore-based venture capital Blockchain Founders Fund has secured around $75 million for its new fund BFF II, which aims to support early-stage startups in Web3, Blockchain, Crypto, and metaverse sectors.
The fund saw backing from some major investors, including NEO Global Capital, Appworks, The Sandbox (SAND) Sebastien Borget COO, GSR, LD Capital, Metavest Capital, TechMeetsTrader, Zipmex, Baksh Capital, Octava, and Aria Group.
The BFF II has already invested in some 11 projects, such as decentralized derivatives exchange FXDX, video games startup Breshna, healthcare app “Health Hero”.
Mansoor Madhavji, Partner at Blockchain Founders Fund, said in the announcement:
“We’ve got an incredible team working with us day to day to discover and support great companies and we continue to support our portfolio companies with their talent needs and expand the team with individuals that want to be at the cutting edge of blockchain and VC.”
Whilst the broader crypto market is yet to overcome this new year’s bearish phase, investments in crypto-related companies have not lost their momentum.
Animoca Brands recently raised nearly $369 million in new funding round, almost tripling its October 2021 valuation. Moreover, Andreessen Horowitz is seeking to raise a whopping $4.5 billion for two new crypto funds, per a report by the Financial Times.
