After already investing in Algorand’s private rounds years ago, Arrington Capital has now announced the launch of a dedicated $100 million USD fund to invest in the Algorand ecosystem by financing projects that show a high level of potential in the financial sector, including native coins.
The partnership with Algorand for the launch of the Arrington Algo Growth Fund is the second partnership established by the digital asset management fund, which already runs an XRP fund.
Michael Arrington, Founder of TechCrunch and Arrington Capital, believes that Algorand will play an important role in the future of finance due to its “unmatched tech, robust developer resources, and vision for long term sustainability.”
He also referred to the increasing importance of cryptocurrencies on the global stage despite their “ups and downs” which according to him, are the results of the blockchain and crypto industries moving “a lot faster” than the legacy tech world.
This sentiment was shared by multiple participants in Bitcoin Miami, which counted with the participation of celebrities like Floyd Mayweather, Tim Draper, Jack Dorsey, the Winklevoss twins, and Michael Saylor, as well as more than 12 thousand attendees.
Algorand Is Becoming a Positive Force in Blockchain Development
Ranked 34th by market capitalization, Algorand has become one of the most popular blockchain networks in the space with a market capitalization of more than 3.2 billion dollars
The increasing traction experienced by the network has resulted in the creation of other funds aiming to support Algoran-based initiatives across the world, including a $25M fund in Miami, $400M fund from Borderless Capital, $10 fund for NFT projects, and $250 grant program launched by the Algorand Foundation.
Algorand’s notoriety has also increased in recent months due to the company’s commitment to be the greenest blockchain network by continuing to be fully carbon-neutral, a growing concern for regulators and investors…