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Blockchain Founders Fund Raises $75M To Encourage Web3 Mass Adoption

Blockchain Founders Fund, a venture capital fund supporting the adoption of Web3 and blockchain technology, has announced the close of a $75 million fundraising round from companies such as Polygon, Ripple, Octava, NEO Global Capital, Appworks, GSR, LD Capital, Metavest Capital and others, such as Sebastien Borget, chief operating officer of The Sandbox.

According to the announcement, the fund will focus on supporting high-potential early-stage pre-seed and seed projects that encourage the mass adoption of Web3 and blockchain technology. The fund has already invested in over 100 startups, including Altered State Machine, Splinterlands, GRID, Krayon and Magna. 

In an interview with Cointelegraph, Michiko Yuda, marketing coordinator at Blockchain Founders Fund, shared that the venture capital fund will potentially be spread across more than 200 companies within the next 12 months. 

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