Eterna Capital and Borderless Capital launch venture studio for organizations building on Algorand

We are thrilled to announce the launch of Eterna Borderless Venture Studio, an initiative led by Eterna Capital, Borderless Capital and Algorand with the objective to support projects looking to build applications on the Algorand platform. This initiative will drive long-term adoption and ensure the growth of the Algorand ecosystem.

Eterna Borderless Venture Studio initiative has been built around a global collaboration between North America and Europe.

It is the first venture studio for developers and entrepreneurs building on Algorand. The venture studio will support, guide and encourage passionate founders to build promising decentralized applications on the Algorand platform. The venture studio will also support existing projects to help them transition to the Algorand platform and benefit from its ecosystem.

Eterna Borderless Venture Studio will process applications on a rolling basis and ensure hands-on support for three months. Eterna Capital and Borderless Capital will invest up to $100k per project participating in the Eterna Borderless Venture Studio program with the prospect to conduct larger growth stage follow-on rounds for successful projects.

The venture studio has formed an ecosystem of partners that includes elite student groups from some of the world’s most prestigious universities such as University of Oxford, University of Cambridge, and Imperial College of London. Leading blockchain and PR marketing firm MarketAcross as well as F6S, one of the largest startup ecosystems in Europe, have also partnered with Eterna Borderless Venture Studio. In addition, seven blockchain projects have pledged to join the venture studio from launch:

• MAX Markets: An international trading group launching their own digital assets exchange.
• Monerium: Issuer of a regulated e-money on blockchains so businesses can build digital financial services using the fiat currency and the decentralized infrastructure of their choice.
• Orion Protocol: A DeFi platform building B2B and B2C solutions on the most advanced liquidity aggregator in market.
• PlanetWatch: A global network of air quality sensors and environmentally-conscious people who use a decentralized platform to incentivize and gamify environmental monitoring.
• SingularityNET: The world’s decentralized AI network where anyone can create, share, and monetize AI services at scale.
• Stasis: A crypto-enabler platform that aggregates solutions from licensed financial intermediates to provide an institutional-grade link between decentralized finance world and the off-chain market.
• Stonize: A platform making securitization accessible and transparent via a fully digital and legally binding process based on decentralized technologies and eIDAS compliant digital identities.

The establishment of Eterna Borderless Venture Studio will drive long-term adoption and growth of the Algorand ecosystem, while accelerating the trajectory of startups creating valuable solutions spanning finance, exchange, custody, and more. Eterna Borderless Venture Studio will nurture outstanding projects creating the decentralized applications that will drive the next wave of adoption.

Eterna Borderless Venture studio will mostly focus on the European region. This initiative is the first step towards creating a global network of venture studios aimed at supporting the Algorand borderless economy.

We are looking forward to supporting talented teams with innovative ideas. This initiative is a testament of the firm’s continued efforts to create an ecosystem of industry partners to help its portfolio companies to achieve success while accelerating the adoption of blockchain technology.

If you want more information about the venture studio, please feel free to reach out at studio@eternacapital.com or if you would like to apply, please submit your application here.

About Algorand Inc.

Algorand Inc. built the world’s first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction in financial exchange, Algorand Inc. is powering a financial evolution by enabling the creation and exchange of value, building new financial tools and services, while providing responsible privacy features. For more information, visit www.algorand.com