- Blockchain Founders Fund has completed a $75 million funding round for its BFF II fund.
- The Singapore-based VC is an early-stage investor in Web3 and blockchain gaming projects.
- It is looking to revamp its metaverse gaming portfolio that also includes Splinterlands, Monkey Ball and Lunar Crush.
Blockchain Founders Fund said on Monday it completed a $75 million funding round for its BFF II fund. The Singapore-based venture capital firm primarily invests in early-stage Web3 projects including blockchain gaming startups.
The funding round attracted investors from the blockchain space including NEO Global Capital (NGC), AppWorks, Sebastien Borget COO of The Sandbox, GSR, LD Capital, Metavest Capital, TechMeetsTrader, Zipmex, Baksh Capital, Octava, and Aria Group.
Speaking following the capital raise, Roger Lim, Founding Partner of NEO Global Capital (NGC) and investor in BFF II said his firm was looking towards con-investing with BFF II in long-term strategic projects.
The fund’s strategy is centred on investing in pre-seed and seed-stage projects, and then following up with regular investments in funding rounds up to the tune of $5 million. It also offers ongoing support to the blockchain, crypto, Web3, metaverse startups that it invests in.
Commenting on the funding round, Blockchain Founders Fund Managing Partner Aly Madhavji said the firm was very excited by the support it received from leaders looking to “back entrepreneurs that will shape the Web3 ecosystem.”
On the other hand, Polygon’s Sandeep Nailwal highlighted BFF II’s hands-on approach of backing and working closely with founders as an important principle of the fund.
The Blockchain Founders Fund has invested in some of the leading Web3 projects including Splinterlands, which DappRader recently ranked as the number one blockchain game, as well as, Monkey Ball, and Lunar Crush.
The BFF II fund has also invested in the decentralised derivatives exchange platform FXDX, as well as, the metaverse project RD Land and games Rebelbots, Health Hero, The Apocalyptics, Cross the Ages, and Dogami.
Discussing near term plans, Mansoor Madhavji, Partner at Blockchain Founders Fund, added, “We’ve got an incredible team working with us day-to-day to discover and support great companies and we continue to support our portfolio companies with their talent needs and expand the team with individuals that want to be at the cutting edge of blockchain and VC.”
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