Venture Capital Firms Capitalize on Bull Cycle: Spotlight on Borderless Capital and Noteworthy Startups
Summary:
Venture capital firm Borderless Capital moves into quantitative trading with its acquisition of CFT Capital. The deal expands Borderless' assets with AI and automated trading products for enhanced capital allocation efficiency. Furthermore, the firm envisages cross-blockchain standardization by 2024 and plans to invest in decentralized physical infrastructures. Meanwhile, Morph, a layer-2 solution on Ethereum Virtual Machine, FLock.io, a decentralized AI startup, Keyring Network, a compliance platform, Rails, a crypto perpetual exchange platform, Build on Bitcoin, a Hybrid layer-2 solution, and RACE, a tokenization platform, have successfully raised significant funds in recent weeks. The hotspot issue of Artificial General Intelligence (AGI) in the crypto sector is the highlight of the latest magazine edition by the Artificial Superintelligence Alliance.
In the current bullish phase, venture capital firms are aggressively capitalizing on emerging opportunities. The month of March saw Borderless Capital, a Web3-native investment firm, acquiring the quantitative trading company CFT Capital. This strategic move enriches Borderless' service offerings with AI and automated trading solutions, thereby advancing efficient capital deployment in the Web3 sphere, stated the firm, which has $600 million in managed assets. Notably, Borderless Capital has early investments in Algorand, Blockchdaemon, and Securitize, with the latter recently partnering with BlackRock for a tokenized digital fund. The acquisition also boosts the firm's foothold in Latin America. As per David Garcia, co-founder and managing partner at Borderless, markets including Argentina, Uruguay, Brazil, Chile, and Mexico are actively being explored.
According to Borderless' projection, the advent of cross-blockchain standardization will be the defining phase for cryptocurrency evolution by 2024. Garcia suggests that the emergence of new multiple blockchain interoperable layers underpins a durable trend, enabling mainstream Web3 adoption. The company is also increasingly focusing its investments on decentralized physical infrastructure (DePIN), which it believes will revolutionize sectors like communication, distributed computation, mapping, and transportation.
In other news from the venture-capital ecosystem, the recent weeks of March saw several start-ups raising significant capital. The Ethereum Virtual Machine (EVM) layer-2 solution, Morph, attracted $20M in seed and angel funding to enhance talent acquisition, push developer incentives, and amplify marketing. Central to this project's design are decentralized sequencers, optimistic zkEVM integration, and modular design, reports Morph COO Azeem Khan.
The London-based decentralized AI start-up, FLock.io, secured $6M in seed funding to facilitate the creation of a user-friendly federated learning-powered training platform for AI models, providing a more democratized and rewarding AI development model.
Also, Keyring Network, created by a former J.P. Morgan investment banker and a Quant analyst from Nomura, managed to seal $6M in seed funding for its regulatory compliance and market liquidity solutions.
In another interesting development, cryptocurrency perpetual exchange platform, Rails, secured a funding of $6.2M for enabling a futuristic trading environment for its users. The platform supports self-custody trading of perpetual contracts, which are futures contracts without an expiry date.
Meanwhile, the Bitcoin-centric solution, BOB or "Build on Bitcoin", raised $10M to launch its first Bitcoin layer-2 project which is Ethereum Virtual Machine (EVM) compatible, effectively promoting the integration of decentralized applications (DApps) within the Bitcoin network.
The tokenization platform, RACE, raised $5M to support its newly launched testnet while striving to tokenize various types of assets, ranging from real estate to gold. Significantly, RACE intends to set up Decentralized Investment Committees (DICs) that would undertake meticulous due diligence of investment opportunities prior to their tokenization.
Lastly, the month ended with the latest edition of the magazine discussing the relevance of "good" Artificial General Intelligence (AGI) that poses no existential risk, brought forth by the Artificial Superintelligence Alliance from the crypto sector.
Published At
3/29/2024 9:45:00 PM
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