Borderless Capital joins AlgoDAO’s seed round with US$1 million as lead investor
7 March 2022 — AlgoDAO, a next-generation decentralized primary market infrastructure, accelerator and launchpad for the Algorand ecosystem, is pleased to announce that Borderless Capital has joined its seed round as a lead investor. The blockchain venture capital firm leads the seed funding round with an investment of US$1 million. Other investors in the round include the Algorand Foundation, with the total investment attracting around US$3.5 million.
AlgoDAO is on a mission to eliminate the economic barriers to Web3 funding by providing access to a decentralized primary market infrastructure at scale and speed. AlgoDAO is purpose-built for the Algorand network to function as an incubator, accelerator, and price-discovery engine to access early-stage financing opportunities from institutional and retail investors.
AlgoDAO is a catalyst for accelerating the adoption of blockchain-powered solutions by facilitating the participation of non-crypto natives and non-technical audiences in early-stage investments in high-quality projects in the new digital assets economy.
The seed funding from Borderless Capital validates the necessity of a decentralized primary infrastructure within the Algorand ecosystem and will go towards further research and development to bring AlgoDAO to life.
In the words of Nathan Kaiser, appointed Managing Director at AlgoDAO “Commencing the AlgoDAO’s seed funding with Borderless Capital as a lead investor is an exciting development that validates our mission to build a vibrant primary market infrastructure to activate Algorand’s dApps, DeFi, and Web3 ecosystem. Borderless Capital has a solid track record of partnering with high-quality projects and an impressive portfolio, network, and domain expertise. We are excited to have them on board with us and we look forward to building funding infrastructure for the economy of the future.
David Garcia, CEO and Managing Partner at Borderless Capital, said: “We are excited to back AlgoDAO and their vision of building the right technological stack for the growth of the Algorand network economy. AlgoDAO is democratizing access for both Web3 developers and supporting users that are financially backing the Web3 apps they are interacting with. This is a new paradigm shift in crowdfunding where users become funders and value is created for all the stakeholders in the ecosystem. AlgoDAO is natively taking advantage of all the Algorand crypto primitives to accelerate this new era of Web3 innovation”.
AlgoDAO had previously announced that the Algorand Foundation had joined the seed round as a strategic investor. AlgoDAO completed its scoping and initiation phase and will soon commence its private beta and semi-public beta testing. The learnings from the beta testing phase will be crucial for fine-tuning the technology, systems, and processes. This will validate that AlgoDAO can deliver a best-in-class decentralized primary market infrastructure and tokenized incubator empowering the organic expansion of dApps, Web3 applications, and DeFi projects within the Algorand ecosystem.
About AlgoDAO: AlgoDAO is a next-generation decentralized primary market infrastructure and Web3 accelerator for the Algorand ecosystem. It is designed to be a community-owned and driven ecosystem for incubation, launching, accelerating, and collectively investing into high-quality projects building on Algorand. https://algodao.fi
About Borderless Capital: Borderless Capital is a blockchain venture capital firm and a modern financial institution investing capital and co-building financial products with its portfolio companies that accelerate access, bootstraps adoption, and creates value globally through the Algorand Borderless Economy. https://www.borderlesscapital.io
