:format(jpg)/www.coindesk.com/resizer/Nmp3uOLrfZuoxAeaCg5z6b27KoU=/arc-photo-coindesk/arc2-prod/public/S65B2QZAVNEBRBOGNCIVH5F7F4.png)
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Miami-based venture capital firm Borderless Capital is leading a new $50 million fund that will support projects which focus on building cross-chain innovations, according to a press release.
The fund will be powered by Wormhole, a decentralized message-passing protocol that connects blockchains, enabling them to communicate with each other. The portfolio companies invested by the fund will thus be able to closely collaborate and work with Wormhole as their cross-chain solution, according to Borderless Capital.
“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,” said the press release. “This complexity poses difficulties for users and alienates developers who are restricted from accessing a single ecosystem, hindering their growth.”
The fund is also being backed by Jump Crypto, Arrington Capital, Polygon Ventures, MultiCoin GP’s Tushar Jain and Kyle Samani, the Solana Foundation and Aptos Labs among others.
“Crypto is still a nascent industry with essentially limitless growth opportunity, and we should be doing nothing but working together, regardless of which specific networks individuals may be more passionate about,” said Dan Reecer, head of operations at the Wormhole Foundation.
Edited by Stephen Alpher.
DISCLOSURE
Please note that our
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
and blockchain
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
https://www.coindesk.com/business/2023/05/18/borderless-capital-leads-wormhole-powered-50m-cross-chain-fund/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
