Blockchain Founders Fund from Singapore has reportedly introduced a new venture capital fund, to financially back metaverse, Web3 fields, and crypto-centric emerging initiatives. 

Specifically, Blockchain Founders Fund II – also referred to as BFF II – has reportedly managed to secure $75 million from a variety of investors throughout the blockchain and crypto sphere, including NEO Global Capital, Appworks, Baksh Capital, Octava, and The Sandbox chief operating officer Sebastien Borget. 

BFF II has reportedly completed the deployment of capital through 11 initiatives already, including a layer-two derivatives exchange, a few play-to-earn games as well as a DeFi protocol.

BFF II reportedly concentrates mainly on crypto, blockchain, Web3, and metaverse initiatives. The fund further completed necessary preparations for providing an extra $5 million to successful startups that go through to subsequent funding rounds. 

BFF partner Mansoor Madhavji additionally revealed that “operational experience” plays a crucial role in affecting final decisions when choosing the particular firms to support. 

Every firm receiving a financial injection is reportedly required to “have demonstrated strong product-market fit [and] are able to set trends in the crypto space”. 

Regardless of a heavy selloff across the crypto sphere, which began on January 24th with Bitcoin (BTC) dropping under the $34,000 mark, more and more smart money investors are eyeing virtual assets as a generational opportunity.

As such, they are deploying capital in industries, which in their expectations, could reshape the digital economy within the next ten years.