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The Blockchain founders fund raises $75 million to promote widespread Web3 adoption.

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Polygon, Ripple, Octava, NEO Global Capital, Appworks, Sebastien Borget of The Sandbox, GSR, LD Capital, Metavest Capital, and others participated in the financing round.

A $75 million fundraising round from organizations including Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital, and others, including Sebastien Borget, chief operating officer of The Sandbox, has been closed, according to Blockchain Founders Fund, a venture capital fund that supports the adoption of Web3 and blockchain technology.

The fund will concentrate on assisting high-potential early-stage pre-seed and seed businesses that promote the wide use of Web3 and blockchain technologies, according to the statement. Around 100 firms have previously received funding from the fund, including Altered State Machine, Magna, Splinterlands, GRID, and Krayon.

The Blockchain Founders Fund’s marketing coordinator, Michiko Yuda, said in an interview with Cointelegraph that the venture capital fund may invest in more than 200 businesses over the course of the following year.


speaking about the criteria and methods through which Web3 entrepreneurs may apply for investment from the Blockchain Founders Fund, Yuda said that the fund would concentrate on early-stage Web3 businesses with solid teams and a track record of carrying out their vision. The ventures must also provide goods or services that address genuine market requirements and provide obvious avenues for long-term monetization or income creation. Also, the initiatives must have a convincing business strategy that indicates a thorough knowledge of the target market and the industry landscape.

Yuda spoke on some of the main issues facing crypto venture capitalists and how the Blockchain Founders Fund is assisting in resolving them. He said that there is fierce rivalry for deals in the industry, regulatory uncertainty, as well as a dearth of proven successful initiatives. We concentrate on investing in high-quality firms with sound foundations and clear signs of progress in order to address these issues.

In order to guarantee that only well-rounded teams are picked for financing, Yuda also disclosed to Cointelegraph that the Blockchain Founders Fund uses a team-centric approach when reviewing investments. Added him:

“We take necessary precautions to navigate regulatory uncertainty by staying abreast with emerging trends in blockchain governance as they continue to evolve over time. Finally, we leverage our industry connections, including leading institutions and investors in the space to help our portfolio companies succeed.”

Research predicting a decrease in venture capital spending by investors in Q4 2022 was highlighted by Cointelegraph on February 24. Investors are nevertheless eager to support blockchain-based technology, apps, and entrepreneurs despite the slump.

According to the research, venture capital funding is allegedly changing in favor of “non-volatile innovations,” such as cross-chain bridges, payments and remittances, financing, decentralized autonomous organizations, asset management, and digital identity management.