FinTech firm Ripple has revealed that it has strategically invested in the Blockchain Founders Fund (BFF).
BFF, based in Singapore, is an early-stage venture capital fund that concentrates on top-tier global Web3 startups and is supported by key industry leaders, investors, and family offices.
According to the press release, the investment aligns with Ripple’s initiative to boost blockchain technology adoption worldwide. BFF will utilize the funds to assist high-potential early-stage companies developing infrastructure and products in streamlining the shift towards a decentralized future. Having the backing of major financial institutions and a portfolio of over 100 companies primarily focused on the Web3 landscape, BFF has established itself as a leading venture capital fund with the resources and expertise to scale startups.
Moreover, Ripple’s support will enhance BFF’s capacity to invest in diverse companies with strong founders and promising growth potential. This partnership will also continue supporting existing portfolio companies already leaving their mark on the industry, such as Splinterlands, Dogami, Krayon, Altered State Machine, Magna, and LunarCrush.
Brooks Entwistle, Senior Vice President and Managing Director at Ripple, remarked, “Blockchain technology has the power to transform industries. We are eager to see startups unleash blockchain’s potential and are thrilled to collaborate with Blockchain Founders Fund to accelerate startups that are crafting world-class products with tangible utility for the global market.”
Aly Madhavji, Managing Partner of Blockchain Founders Fund, expressed gratitude for the backing received from a major industry player, stating, “We are at the vanguard of this revolution, and our partnership with Ripple will further propel the next generation of entrepreneurs and extend their businesses into new markets.”
Featured Image via Pixabay