Arrington Capital Launches $100M to Support Blockchain
A digital asset management firm specializing in blockchain-based capital markets, Arrington Capital, recently launched a new $100 million fund to support initiatives building on Algorand, a blockchain accelerating the convergence of decentralized and traditional finance. The Arrington Algo Growth Fund (AAGF) aims to spur additional development on Algorand, which has experienced significant growth and adoption recently across decentralized finance, traditional finance and the public sector.
AAGF will invest in Algorand-focused projects including liquid and illiquid coins for projects that are creating new financial applications in the Algorand ecosystem. Algorand, the brainchild of Turing Award winner Silvio Micali, was designed from the ground up for modern financial applications and provides the security, decentralization, scalability and efficiency needed to support billions of users — all on a carbon-negative blockchain.