Miami–(Business wire)–Capital without limitsLeading investment management firm Web3 today announced the launch of its third DePIN-focused fund, a A $100 million fund Dedicated to accelerating the growth and development of Decentralized Physical Infrastructure (DePIN) networks. DePIN Fund III Backed by leading investors, including peak Solana Foundation, Moving to encryption, IoTeX, GSR, Anfield, Wormhole Foundation, Sonic Boom Ventures, Movement Labs And others.
Deepen is Transforming the construction and maintenance of physical infrastructure by leveraging blockchain technology And symbolic incentives. This decentralized model allows individuals to build communication networks, GPU clusters, edge computing, mapping, and many other applications, more efficiently and at a lower cost than traditional Web 2.0 models. DePIN’s rapid growth potential is embodied by Helium Network, an MVNO in partnership with T-Mobile and Telefónica, which was the first to enter this sector, deploying more than a million IoT antennas in just 1.5 years, and GEODNET, the largest RTK network on Earth.
“We are making a bold bet on DePIN because we believe it is one of the most revolutionary innovations in the Web3 space.” said Alvaro Gracia, Partner at Borderless Capital. “DePIN will become the global standard for deploying physical infrastructure, orchestrating human resources, and generating billions in passive income while simultaneously providing easy access and lower cost to users.”
Sean Carey, co-founder of Helium, has joined as a partner in this fund Along with Álvaro Gracia, former head of US investments at Telefónica. The DePIN III Fund will prioritize protocol-level investments with a particular focus on commodity DePINs, Web 2.5 DePINs, and impact. Commodity DePINs use widely accessible devices, such as smartphones and laptops, offering scalability, versatility, and comprehensiveness compared to custom DePINs that require dedicated hardware. Web 2.5 DePIN networks combine decentralized networks with traditional payment rails via Web2, addressing existing markets while leveraging token incentives to drive network bootstrapping.
“DePIN is transformative for deprived areas, providing vital infrastructure and services.” said Sean Carey, partner at Borderless Capital. “With its ability to meet real-world needs, DePIN has the potential to onboard the next billion users into Web3.”
This is Borderless Capital’s third fund dedicated to DePIN, following DePIN Fund I and DePIN Fund II in 2021, which was founded by Jump, Telefónica and OKX and has invested in over 35 pilot projectsincluding Helium, Render Network, GEODNET, Natixis, Mawari, Silence, DIMO, XNet, and Wingbits.
For more information about Borderless Capital’s investment thesis, please visit DePIN 2.0 thesis: The next evolution of distributed Web3 device networks.
About without borders
Borderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are leading the development of groundbreaking technologies that will enable borderless value creation. Borderless includes a team of builders, partners, and investors who take a long-term perspective and strive to unleash the full potential of open, community-driven networking. Since 2018, Borderless has made more than 250 investments across emerging infrastructure, business applications and crypto protocols, and has played an integral role in the development of some of Web3’s most important and innovative communities. Learn more at: www.borderlesscapital.io
