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MIAMI, FL (September 18, 2024) – Borderless Capital, a leading Web3 investment firm known for its early and decisive bet on Decentralized Physical Infrastructure Networks (DePIN), today announced the launch of its third dedicated fund, DePIN Fund III, securing a substantial $100 million commitment. This latest fund is poised to solidify Borderless Capital’s position at the forefront of the DePIN revolution, empowering the next generation of infrastructure projects that are reshaping how we connect and interact with the physical world.
DePIN Fund III boasts an impressive roster of backers, including:
- peaq: A leading DePIN-focused blockchain platform.
- Solana Foundation: The non-profit foundation behind the high-performance Solana blockchain.
- Jump Crypto: The crypto arm of global trading firm Jump Trading Group.
- IoTeX: A privacy-centric blockchain platform for building IoT applications.
- GSR: A global digital asset market maker.
- Anfield: A venture capital firm focused on blockchain and Web3 technologies.
- Wormhole Foundation: The team behind the Wormhole cross-chain communication protocol.
- Sonic Boom Ventures: A venture capital firm investing in early-stage technology companies.
- Movement Labs: A venture studio building and investing in Web3 companies.
Capitalizing on the DePIN Momentum
DePIN leverages blockchain technology and token incentives to create decentralized infrastructure networks, offering a more efficient, cost-effective, and accessible alternative to traditional centralized models. This new paradigm empowers individuals to participate in building and maintaining critical infrastructure, from wireless networks and GPU clusters to edge computing and environmental monitoring systems.
“We are making a bold bet on DePIN because we believe it’s one of the most revolutionary innovations in the Web3 space,” said Álvaro Gracia, Partner at Borderless Capital. “DePIN will become the global standard for deploying physical infrastructure, coordinating human resources, and generating billions in passive income while at the same time providing easy access and lower cost for the users.”
A Proven Track Record of Success
DePIN Fund III follows the success of Borderless Capital's previous DePIN-focused funds, which invested in over 35 groundbreaking projects, including Helium, Render Network, GEODNET, Natix, Mawari, Silencio, DIMO, XNet, and Wingbits. These early investments have cemented Borderless Capital's reputation as a visionary leader in the DePIN space.
Focus on the Future of DePIN
DePIN Fund III will prioritize investments in protocols developing Commodity DePINs and Web 2.5 DePINs:
- Commodity DePINs: Leverage widely accessible hardware like smartphones and laptops, promoting scalability, versatility, and inclusivity.
- Web 2.5 DePINs: Integrate decentralized networks with existing Web2 payment rails, tapping into established markets while leveraging token incentives for network growth.
"DePIN is a game-changer for underserved areas, providing critical infrastructure and services," said Sean Carey, co-founder of Helium and Partner at Borderless Capital. "With its ability to address real-world needs, DePIN has the potential to onboard the next billion users into Web3."
About Borderless Capital
Borderless Capital is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators building groundbreaking technologies that will enable the creation of value without borders. The firm comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has made over 250 investments across infrastructure, business applications, and nascent cryptographic protocols, playing an integral role in the development of some of the most significant and innovative Web3 communities. Learn more at: www.borderlesscapital.io
Compiled by CMO Intern team
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