$50M Cross-Chain Fund welcomes Polygon, Solana, and Algorand

Borderless Capital, a digital asset investment firm, has launched a $50m cross-chain ecosystem investment fund with participation from the Algorand Foundation, Polygon Ventures, and the Solana Foundation. The fund, focused on investing in startups that use Wormhole cross-chain messaging protocol, will help different blockchain networks collaborate on projects. Other investors include Aptos Labs, Circle, and Jump Crypto. Wormhole is a cross-chain messaging protocol designed to enable liquidity and users across more than 20 leading blockchain networks and to power next-generation web3 applications, including DeFi, NFTs, and gaming. The platform has already facilitated the transfer of over $35bn worth of tokens, and its backers have replaced stolen funds in previous hacks. The company’s Ethereum-Solana bridge was exploited in February of 2022 to the tune of 120,000 WETH.