Cross-Chain Ecosystem Fund raises $50M for Wormhole protocol
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Twenty blockchain teams and venture funds have teamed up to launch a $50 million Cross-Chain Ecosystem Fund focused on new startups that leverage the Wormhole cross-chain messaging protocol.
The Cross-Chain Ecosystem Fund is being managed and operated by Borderless Capital, a venture capital firm in the Web3 space. Backed by top blockchain protocols, infrastructure providers, and institutional investors, the fund aims to support cross-chain innovations that will drive the growth and adoption of the Web3 industry.
The Cross-Chain Ecosystem Fund is backed by Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Sei Foundation, Algorand Foundation, CLabs (the company behind the Celo Blockchain), the Moonbeam Foundation, Optimism, Circle, MultiCoin GP’s Tushar Jain and Kyle Samani, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund, Moonlet.io, Forbole Ventures, Syncnode, Inotel, Triton One, Strangelove, Securitize’s CEO Carlos Domingo and OtterSec among others.
Navigating the Web3 landscape is becoming increasingly challenging due to the proliferation of numerous layer-1 blockchains, layer-2 scaling solutions, and specialized appchains with unique purposes and parameters. This complexity poses difficulties for users and alienates developers who are restricted from accessing a single ecosystem, hindering their growth. The Cross-Chain Ecosystem Fund seeks to unlock the full potential of a cross-chain future, aiming to redefine users’ experiences and establish Wormhole as the cross-chain standard for builders to transcend the limitations of individual ecosystems. This
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