Key Takeaways
- Ripple’s investment in BFF is part of its efforts to accelerate the adoption of blockchain technology globally.
- BFF is an industry-leading venture capital fund that has over 100 portfolio companies predominantly focused on the Web3 landscape.
- Ripple’s investment will help BFF to support high-potential early-stage companies that are building the infrastructure and products that will streamline the transition to a decentralized future.
Ripple, a blockchain and crypto solutions provider, has invested in Blockchain Founders Fund (BFF), a Singapore-based early-stage venture capital fund that supports web3 startups globally. The investment is part of Ripple’s efforts to drive the adoption of blockchain technology worldwide.
BFF’s go-to-market-focused venture program assists seasoned and first-time entrepreneurs across key business functions to fast-track growth. The fund has scaled many of the leading blockchain startups.
BFF has over 100 portfolio companies mainly in the web3 space, and the funding will help it invest in companies building the infrastructure and products that will ease the transition to a decentralized future.
BFF recently closed its $75 million Fund II. The fund will be utilized to invest in promising pre-seed and seed-stage Web3 and blockchain startups. Despite the current bear market, BFF remains one of the most active investors in Web3, having made 50 investments in the last year.
Ripple’s support will help BFF invest in companies with strong founders and potential for growth. BFF will also continue to back existing portfolio companies such as Splinterlands, Dogami, and LunarCrush.
According to Brooks Entwistle, Ripple’s senior vice president and managing director, the investment will accelerate startups that create products with real-world use cases. The partnership promises to drive innovation and support web3 entrepreneurs that are shaping the future of decentralized technologies.
Aly Madhavji, BFF’s managing partner, expressed gratitude for the support received from Ripple and noted that the partnership would further drive the next generation of entrepreneurs and expand their businesses into new markets.
Ripple is a technology company that provides enterprise blockchain solutions for global payments and digital asset management. Its solutions are designed to improve the speed, transparency, and cost-effectiveness of cross-border payments, while also enabling businesses to tokenize and transfer value through its digital asset, XRP. The company identifies use cases where crypto technology can inspire new business models and create opportunities for more people. Ripple aims to build crypto solutions for a world without economic borders and a more sustainable global economy and planet, leveraging carbon-neutral blockchain technology and a green digital asset, XRP.
By investing in a Singapore-based early-stage Venture Capital Fund that focuses on top-tier Web3 startups, Ripple is making a significant move towards unlocking the potential of early-stage companies in the Web3 and crypto space.
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