Digital asset management firm Arrington Capital has confirmed the launch of a $100 million fund that serves the goal of investing in initiatives built on the Algorand blockchain.
The fund bears the name Arrington Algo Growth Fund (AAGF). The company hopes to encourage the development of the Algorand ecosystem as the blockchain has registered a “significant growth and adoption recently.” NFTs, traditional finance, and DeFi are among the areas in which the company wishes to expand.
“We are inspired by the traction that Algorand has in the market right now. 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,” declared Michael Arrington, partner at Arrington Capital.
Arrington Capital isn’t the only name to invest in Algorand this month, as Xfinite, Curvegrid, and Eros Now have also shown an interest in it.