Ripple invests in BFF’s Fund II to support Web3 and crypto startups globally
SINGAPORE, March 16, 2023 /PRNewswire/ — Ripple, a leader in enterprise blockchain and crypto solutions announced today that it has made a strategic investment into Blockchain Founders Fund (BFF), a Singapore-based early-stage Venture Capital Fund that focuses on top-tier Web3 startups globally. The investment is part of Ripple’s efforts to accelerate the adoption of blockchain technology globally. The funding will be used by BFF to support high-potential early-stage companies that are building the infrastructure and products that will streamline the transition to a decentralized future.
Blockchain Founders Fund is backed by industry leaders, investors, and family offices, including leading financial institutions. With over 100 portfolio companies predominantly focused on the Web3 landscape, BFF has proven to be an industry-leading venture capital fund with the means and expertise to scale startups.
Furthermore, the support from Ripple will help BFF’s ability to invest in a wide range of companies with strong founders and compelling growth potential, while continuing to support existing portfolio companies that are already making its mark in the industry such as Splinterlands, Dogami, Krayon, Altered State Machine, Magna and LunarCrush.
Brooks Entwistle, Senior Vice President and Managing Director at Ripple commented, “It’s clear that blockchain technology can transform industries. We want to see startups unlock the potential of blockchain technology, and are excited to partner with Blockchain Founders Fund to accelerate startups that are creating world-class products with real-world utility for the global market.”
Aly Madhavji, Managing Partner of Blockchain Founders Fund said, “We are extremely grateful for the support received from one of the most prominent players in the industry. We are at the forefront of this revolution and this partnership with Ripple will further drive the next generation of entrepreneurs and expand their businesses into new markets.”
Through its investment in BFF, Ripple is making a significant move towards accelerating the adoption of blockchain technology worldwide. By unlocking the potential of early-stage companies in the Web3 and crypto space, this partnership between Ripple and BFF promises to drive innovation and support web3 entrepreneurs who are shaping the future of decentralized technologies.
Ripple is a crypto solutions company that transforms how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost-effective – solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet – increasing access to inclusive and scalable financial systems while leveraging carbon-neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.
About Blockchain Founders Fund
Blockchain Founders Fund (BFF) is a Singapore based early-stage Venture Capital Fund which invests in top-tier Blockchain startups globally. Their industry leading go-to-market focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the Web3 and Blockchain ecosystems.
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SOURCE Blockchain Founders Fund; Ripple