We’re pleased to announce that Baraqiel has been invited to participate in Borderless Capital’s new fund and one of our portfolio companies, Ripio, has just launched a new token with Mercado Libre, the largest online marketplace in Latin America.
ALGO Fund 2 Participation
If ALGO Fund 1 is anything to go on (a 31.6x MOIC!), ALGO Fund 2 should be an exciting investment for us.
- Anchored by a 75M ALGO investment by the Algorand Foundation.
- Focused on backing the best Algorand-native projects at seed stage and series A with preferred interest in sound, real-world use-cases.
- Investing in both token and equity value of businesses expanding the Algorand ecosystem.
- Strong pipeline allowing for immediate capital deployment.
- +25% contribution bonus to LPs provided by the Algorand Foundation to help offset the carry interest of the ALGO Fund II.
Invermaster / A3 Finance were early supporters of David Garcia, CEO of Borderless Capital and happy to continue the journey with them.
Ripio Launches Token for Mercado Libre
“Mercado Coin is our new way of rewarding our users for their behavior within our ecosystem,” Mercado Libre said. “The more purchases of selected products they make, the more Mercado Coins they receive.”
Argentinian cryptocurrency exchange Ripio developed the technology behind the token.
Mercado Libre CEO and founder Marcos Galperin said on Twitter: “Today we launched Mercado Coin in Brazil, further boosting our loyalty programme and taking another step towards democratizing financial inclusion in Latin America.”
