- Blockchain Founders Fund’s BFF Fund II is a $75 million fund for Web3 startups.
- Backers of the fund include Polygon, Ripple and NEO Global Capital (NGC).
- BFF launched the BFF Fund in 2018 and has invested in over 100 projects, including Splinterlands.
Blockchain Founders Fund (BFF), an early-stage Web3 venture capital fund based in Singapore, has announced the final closing of its second fund.
The BFF announced the major close of Fund II in early 2022, but the latest announcement is the final close, which includes the participation of major crypto-focused investors, institutions, and family offices.
According to the company, press release, $75 million fund participants include Polygon, Ripple and NEO Global Capital (NGC). As highlighted last September, Polygon invested in BFF as part of its goal towards global blockchain adoption.
Others were Appworks, Sebastien Borget, COO of The Sandbox, and Metavest Capital.
BFF Fund invests in early-stage Web3 startup
The Singapore-based fund will use the funds to support pre-seed and seed rounds of top Web3 and blockchain startups.
According to BFF Managing Partner Aly 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 technology.Together we can build a more decentralized, transparent and fair world,” he added.
The BFF Fund fund was launched in 2018 and has invested in over 100 startups so far. Half of that has happened in the past year, despite the crypto winter.
Startups that have benefited from BFF support include multiplayer collectible card game Splinterlands, artificial intelligence (AI) metaverse protocol Altered State Machine, and token management platform Magna.
As reported earlier this year, BFF led a $500,000 seed round for blockchain platform Koinos.