Arrington XRP Backs Fund’s $200 Million Raise for Algorand Blockchain

Algo Capital, an investment firm exclusively focusing on the Algorand blockchain ecosystem founded by the MIT professor Silvio Micali, has raised $200 million for a new fund dubbed Algo VC Fund.

The company said in an announcement on Tuesday that those who committed include investors like NEO blockchain’s NGC Ventures, TechCrunch founder’s Arrington XRP Capital and tzero investor 11-11 Ventures, among others.

Though set up as an independent entity separate from the Algorand Foundation and Algorand LLC, which oversee the development of the Algorand blockchain, Algo Capital invests exclusively on projects within the Algorand economy.

The firm said the fund will focus on projects that are building applications and infrastructure on Algorand to accelerate the adoption of the blockchain’s native cryptocurrency Algo as a means of payment. Read More at CoinDesk...