Borderless’ third fund targeting DePIN projects is backed by Peaq, the Solana Foundation, Jump Crypto and IoTeX. The DePIN market is expected to reach $3.5 trillion by 2028.
Investment firm Borderless Capital has announced its third fund dedicated to decentralized physical infrastructure networks (DePINs).
According to a Sept. 18 statement, the venture firm launched a $100-million fund to invest in blockchain-based projects working on developing and maintaining physical infrastructure worldwide. The firm has been investing in the sector since 2021, backing projects such as Helium, Render Network and GEODNET.
The new fund is led by Álvaro Gracia, a former Telefónica executive, and Helium co-founder Sean Carey, with support from the layer-1 blockchain Peaq, the Solana Foundation, Jump Crypto and IoTeX.
