Venture capital firms are capitalizing on the current bull market to expand their market share. In March, Web3-native investment company Borderless Capital acquired quantitative trading firm CFT Capital, adding artificial intelligence and proprietary trading products to its portfolio. This move aims to increase efficiency in capital deployment across Web3 verticals. Borderless Capital currently manages $600 million in assets and has invested early in companies like Algorand, Blockchdaemon, and Securitize, which recently partnered with BlackRock for a tokenized digital fund. The acquisition also marks Borderless Capital’s expansion into Latin America, with plans to target countries like Argentina, Uruguay, Brazil, Chile, and Mexico.
Looking ahead to 2024, Borderless Capital expects cross-chain standardization to be the next phase in the crypto space’s evolution. The company anticipates the emergence of new blockchains and the need for an aggregation layer that can interoperate across different chains for mainstream adoption of Web3. Another investment focus for Borderless Capital is decentralized physical infrastructure (DePIN), which it believes will revolutionize industries like communication, distributed computation, mapping, and transportation.
In other news, several startups secured funding in the last weeks of March. Ethereum Virtual Machine (EVM) layer-2 project Morph raised $19 million in a seed round, led by DragonFly Capital. FLock.io, a London-based Web3 decentralized AI startup, raised $6 million in a seed round to decentralize AI training and end user data collection. Keyring Network, a platform leveraging zero-knowledge technology for financial organizations’ regulatory compliance and market liquidity, secured $6 million in seed funding. Crypto perpetual exchange Rails raised $6.2 million to support the development of its self-custodial perpetuals exchange. Hybrid layer-2 solution BOB raised $10 million to launch the first Bitcoin layer-2 with Ethereum Virtual Machine compatibility. Finally, tokenization platform RACE disclosed a $5 million funding raise to support its recently released testnet.
In the world of artificial superintelligence (AGI), the Crypto’s Artificial Superintelligence Alliance is focused on creating “good” AGI that won’t pose a threat to humanity.