The Algorand ecosystem is reportedly reeling in more and more support, with crypto asset management entity Arrington Capital offering $100 million fund for initiatives designing on the smart-contract platform. 

Specifically, the major Arrington Algorand Growth Fund (AAGF) has reportedly been built with a primary goal of speeding up additional growth throughout every aspect of the smart contract platform, including applications across different sectors such as DeFi, traditional finance, public sector and NFT marketplaces.

AAGF will reportedly make investments in a wide range of Algorand-centric initiatives, including native virtual coins that support new financial applications based on the network. 

Arrington Capital was reportedly established by TechCrunch and Crunchbase founder Michael Arrington, currently taking care of the management for over $1 billion in assets. Many key investments are included in its portfolio, nominally Unbound Finance, BlockFi, Polkadot, Kava and many others.

“With unmatched tech, robust developer resources and a vision for long term sustainability, Algorand is empowering its community to more easily create the future of finance.” Michael Arrington reportedly remarked that the inspiration for his company is generated by the traction that Algorand has in the market at the moment. 

Algorand was reportedly considered to be a worthy smart contract rival of Ethereum, throughout the run up to the 2017 bull market.

Over $500 million in strategic investments has reportedly been poured into Algorand, including a $25 million fund from Borderless Capital, to back Algorand-based digital payment tools.