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Algo Capital pulls in $200M for Algo VC Fund

Algo Capital GP LLC raised $200 million for Algo VC Fund, exceeding its initial target of $100 million.

The fund is supported by financial and blockchain industry investors across North America, Latin America, Asia and Europe, which includes Brainchild, NEO Global Capital 's NGC Ventures, Arrington XRP Capital, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r Inc., Wibson, 11-11 Ventures, DG Ventures, Winslow Strong and Invermaster.

The fund will target businesses that are building on the Algorand blockchain technology platform and will seek to boost the use of the platform as a payment method.