Algo Capital Announces $100 Million Blockchain Fund to Invest in Promising Companies Built on Algorand Platform
Fund Will Support Companies Building Next-Generation Blockchain Solutions
Algo Capital, a blockchain-focused venture capital group, has announced the launch of a $100 million USD fund to invest and manage significant capital in emerging disruptors building on the Algorand decentralized platform over the course of the next decade. The Algorand protocol was designed by MIT professor, cryptography pioneer, and winner of the prestigious Turing Award, Silvio Micali. Algo Capital invests in promising companies at all stages that are creating solutions on the decentralized Algorand platform, with an initial focus on companies building fintech applications.
Algo Capital is funded by external investors who recognize the potential Algorand has to serve as the platform to create a truly decentralized economy. Algorand, a first-of-its-kind blockchain and digital currency purpose-built for business, is also an investor in Algo Capital, letting Algo Capital independently manage the fund while serving as an integral part of the growth of the Algorand ecosystem. In order to further support companies with which the fund will engage, the leadership team will establish a blockchain laboratory to provide developers and entrepreneurs with tools and resources to help them build on the Algorand platform.
Read More: Graph Blockchain Secures Contract With Hyundai and IBM
Arul Murugan, Managing Partner of Algo Capital, said: “The launch of Algo Capital signifies an invaluable opportunity to support and grow some of the world’s most promising startups that are building on the business blockchain of the future. We believe that value in the overall Algorand ecosystem will be captured by building real business and uses cases upon it, bringing hundreds of millions of users to wider blockchain adoption. Algo Capital looks forward to enabling and supporting entrepreneurs to leverage the unique benefits of the Algorand platform in innovative ways that will change the world.”
The fund is managed by a diverse leadership group of four founding partners with more than six decades of combined experience in venture capital, crypto investment, and blockchain technology, including Managing Partners David Garcia and Arul Murugan. Garcia previously served as Managing Director and Partner of Ripio, and as Partner at one of the first digital asset funds in Latin America. Murugan is the Founder and former CEO of Enrich, a global leader in oracle procurement software-as-a-service, and Managing Partner of blockchain-focused venture capital firm 11-11 Ventures.
Read More: Wind River Teams With Renesas to Advance Autonomous Driving Applications
David Garcia, Managing Partner of Algo Capital, said: “I have been active in this space for more than five years as an entrepreneur and investor. I’ve had the opportunity to learn what succeeds and what fails, beyond just the technology. We invested in Algorand due to the outstanding technical and business leadership of its team. We also recognized the massive potential and have joined forces with others to launch Algo Capital to capitalize the potential of the Algorand ecosystem.”
Algorand last month announced the closure of a $62 million USD equity investment, a round in which Algo Capital was a lead investor. In addition, the company onboarded senior executives Steven Kokinos as CEO and W. Sean Ford as COO to help launch the revolutionary blockchain. Kokinos is the Founder of global, cloud-based unified communications platform Fuze. Ford was previously Senior Vice President and CMO at one of the world’s top 10 public SaaS companies LogMeIn, Inc.
Steve Kokinos, CEO of Algorand, said: “The launch of the Algo Capital fund demonstrates the momentum of the technology that Silvio Micali has been developing for the past several years. Algo Capital and its supporting lab will accelerate opportunities for developers and businesses to realize the potential of Algorand’s protocol for a truly global and decentralized economy. We look forward to seeing first-hand the innovative projects that will develop out of the Algo Capital fund.”
Read More: Virtual Assistant Technology – Empowering the Human Workforce of Tomorrow
Industrial Copper scrap Copper scrap repurposing methods Scrap metal reprocessing
Copper cable scrap export process, Scrap metal reclaim, Copper scrap market analysis
There is definately a lot to know about this subject. I love all the points you’ve made.
Remarkable! Its really awesome piece of writing, I have got much clear idea about from this piece of writing.
Hi, I do believe this is an excellent blog. I stumbledupon it 😉 I will return once again since I book marked it. Money and freedom is the best way to change, may you be rich and continue to help other people.
One of the leading academic and scientific-research centers of the Belarus. There are 12 Faculties at the University, 2 scientific and research institutes. Higher education in 35 specialities of the 1st degree of education and 22 specialities.
Ahaa, its pleasant conversation about this piece of writing here at this webpage, I have read all that, so now me also commenting here.
Excellent, what a website it is! This blog gives useful information to us, keep it up.
Nice post. I learn something new and challenging on blogs I stumbleupon every day. It will always be exciting to read content from other writers and practice a little something from their websites.
WOW just what I was searching for. Came here by searching for %keyword%
Nice blog! Is your theme custom made or did you download it from somewhere? A design like yours with a few simple adjustements would really make my blog jump out. Please let me know where you got your design. Appreciate it
I think what you postedtypedsaidthink what you postedwrotebelieve what you postedwrotebelieve what you postedtypedWhat you postedtypedsaid was very logicala lot of sense. But, what about this?consider this, what if you were to write a killer headlinetitle?content?wrote a catchier title? I ain’t saying your content isn’t good.ain’t saying your content isn’t gooddon’t want to tell you how to run your blog, but what if you added a titleheadlinetitle that grabbed people’s attention?maybe get people’s attention?want more? I mean %BLOG_TITLE% is a little vanilla. You could look at Yahoo’s home page and see how they createwrite post headlines to get viewers interested. You might add a related video or a related pic or two to get readers interested about what you’ve written. Just my opinion, it might bring your postsblog a little livelier.
Simply wish to say your article is as surprising. The clearness in your post is simply spectacular and i can assume you are an expert on this subject. Well with your permission allow me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please keep up the gratifying work.
Howdy are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any coding knowledge to make your own blog? Any help would be greatly appreciated!
Everything is very open with a very clear description of the issues. It was really informative. Your website is very helpful. Thanks for sharing!
I am extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a nice blog like this one these days.
Франшиза автомойки – это возможность стать частью успешной сети с готовым бизнес-планом и маркетинговой поддержкой на всех этапах работы.
Hi, Neat post. There is a problem together with your site in internet explorer, might check this? IE still is the marketplace leader and a large section of other folks will leave out your wonderful writing due to this problem.
I got this website from my friend who told me about this web site and now this time I am visiting this web site and reading very informative articles here.
hey there and thank you for your information I’ve definitely picked up anything new from right here. I did however expertise a few technical issues using this site, since I experienced to reload the web site many times previous to I could get it to load properly. I had been wondering if your hosting is OK? Not that I am complaining, but sluggish loading instances times will often affect your placement in google and can damage your high quality score if advertising and marketing with Adwords. Anyway I’m adding this RSS to my e-mail and can look out for a lot more of your respective fascinating content. Make sure you update this again soon.