Borderless Capital’s support for Algorand-based development has taken another incremental turn with the venture capital firm launching a new $25 million fund in Miami.
In an announcement on Wednesday, the investment firm stated that the $25 million fund will focus on supporting blockchain startups in the city of Miami.
Dubbed the Borderless.Miami Fund, the VC firm is joined by stablecoin issuer Circle to foster the growth of digital payment and digital capital market development in Miami.
Apart from direct investments in blockchain startups, Borderless Capital is also seeking to launch the Algorand Miami Accelerator. Algorand accelerator programs in Europe and Asia have worked to spur and encourage blockchain developments in their respective jurisdictions.
With Circle in the mix, the planned $25 million fund will reportedly use the USD Coin (USDC) stablecoin as well as other facets of Circle’s business to promote digital payment technology breakthroughs built on the Algorand blockchain.
According to Wednesday’s announcement, the blockchain investment fund has already secured support from the