Polygon invests in BFF to diversify company holdings

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Polygon invests in BFF to diversify company holdings

By Daniela Kirova - min read

Singapore-based VC Blockchain Founders Fund (BFF), focused on blockchain and early-stage Web3 startups globally, and Polygon have entered into a strategic partnership, Coin Journal learned from a press release

Polygon is investing in the fund to advance blockchain adoption and diversify the company’s holdings. 

BFF boasts track record in effective scaling 

Blockchain Founders Fund boasts an impressive track record of scaling companies in the Web3 space to targeted audiences.

Among the companies associated with BFF are such working in social intelligence for cryptocurrencies (LunarCrush), blockchain-powered no-code gaming studios, and various other apps. 

Fund raised $75m from leading investors 

The web3-focused fund launched in January after a number of leading investors helped it raise $75 million. Among them were Appworks, Sebastien Borget, COO of The Sandbox, NEO Global Capital (NGC), and Polygon co-founder Sandeep Nailwal.

In the past, Polygon and BFF have invested in top blockchain companies such as Altered State Machine and Splinterlands to speed up and empower dApps. 

The present partnership will allow both companies to provide Web3 founders with exceptional value propositions and disrupt industries.

Mr. Nailwal commented:

We must support entrepreneurs in building innovative products and infrastructure if we want to realize the vision of Web3 and help achieve mainstream adoption. We are delighted by the prospect of working with Blockchain Founders Fund, which believes in the transformative potential of Web3 and share our vision.

BFF Managing Partner Aly Madhavji added:

Adding an institution like Polygon as a partner will expand our capacity to invest in a broader range of early-stage companies. Their industry expertise will help us connect with the highest-potential companies that are finding real solutions to real problems.

The best blue-chip services, gaming platforms 

Polygon boasts more than 37,000 dApps and is transforming into the de facto Web3 platform. 

The ecosystem is comprised of an array of blue-chip services such as Aave, Curve, and Uniswap and top metaverse and gaming platforms like The Sandbox and Decentraland. 

The network also works on the mass market, helping leading world brands like Adobe and Starbucks integrate Web3 functionality.