We are big fans of Algorand. We first invested in their private rounds years ago and have accumulated additional ALGO since. And over the years we have stayed close to founder (and Turing Award recipient) Silivo Micali, CEO Steve Kokinos, COO Sean Ford and VP Marketing Keli Callaghan. This is one of the best all around teams in crypto. Professional, zero hype, all signal.
In 2019 we published a research report on the Algorand product and burgeoning ecosystem, titled The Monetary Experiment: Algorand. In that report, we outlined how we see Algorand, and gave a glimpse of what the project could become with hard work and just a little luck. They have exceeded our expectations, and have grown in ways we did not foresee (it’s time to update that research).
Today I’m happy to announce that we are partnering with Algorand for the long term. We are launching a dedicated $100 million fund to invest in the Algorand ecosystem and other promising crypto products. The fund is called the Arrington ALGO Growth Fund and will begin deploying capital soon.
You can read the news on this:
Coindesk: Arrington Capital Launches $100M Algorand Ecosystem Fund
CoinTelegraph: Arrington Capital to back Algorand projects with $100M growth fund
We now run two publicly announced funds – Arrington XRP Capital and Arrington Algo Growth Fund. Arrington XRP Capital was formed in 2017. We continue to grow and manage that fund, and work with the dozens of companies and protocols that we have funded along the way. Now we will also manage this new ALGO fund, and I’m quite sure that in a few years time, I will be able to say the same things about this fund – amazing things will come from our investments in founders.
Thinking back to those days, none of us really had any idea of the roller coaster ride we were on. Crypto has its ups and downs, but the amount of founder passion for building, deploying and growing new infrastructure and apps is sort of stunning. And that’s coming from someone who’s been building and investing in Silicon Valley since the mid 90s. Crypto moves faster, a lot faster, than the old tech world. Things you learn become redundant almost before you’ve mastered them. I consider that a feature, not a bug.
It’s survival of the fittest, and ALGO, along with XRP, have proven that they are here to stay. I don’t know exactly what’s coming next, but I feel comfortable that ALGO will be a big part of it. Thank you, Algorand, for choosing us to be your partners.
Here’s to the Pirates. Here’s to ALGO. Let’s build.