By Nancy Dahlberg
Borderless Capital, a $400 million venture firm, is betting on Miami, launching a $25 million fund to seed startups in the area that are harnessing Algorand technology. In collaboration with the blockchain platform Algorand and payments company Circle, the issuer of the USDC stablecoin, Borderless Capital also announced it will launch an Algorand Miami Accelerator to support startups. The third significant piece of this news: The company is also moving its corporate HQ from Atlanta to Miami.
How’s that for one of the first big announcements of Miami Crypto Week?
“This is the place to be now, and we are here to fund and work with entrepreneurs that share our vision,” said Borderless managing partner David Garcia, in a statement. The company will be moving key personnel to the Magic City and is looking for office space in Wynwood.
Miami was chosen because of its blockchain-friendly outlook, including the exuberance of Miami Mayor Francis Suarez, who made the announcement in a Cafecito talk today. The news was also discussed during the mayor’s virtual Miami Crypto Conference today, which precedes the Bitcoin 2021 conference at Mana Convention Center in Wynwood on Friday and Saturday.
“With the support of Algorand, Circle and other top local partners, we’re building an ecosystem in line with our vision for Miami,” Suarez said in a statement. “I am so excited to work with Borderless.Miami to make Miami the epicenter for digital capital markets in our pursuit of becoming the ‘Capital of Capital’.”
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