---
title: "Our New Investment In Algo Capital"
id: "2138"
type: "post"
slug: "our-new-investment-in-algo-capital"
published_at: "2019-08-27T18:56:02+00:00"
modified_at: "2022-01-18T16:46:40+00:00"
url: "https://staging.arringtoncapital.com/blog/our-new-investment-in-algo-capital/"
markdown_url: "https://staging.arringtoncapital.com/blog/our-new-investment-in-algo-capital.md"
excerpt: "We are very pleased to join forces with Algo Capital, a new $200 million venture fund founded by David Garcia and Arul Murugan. We have invested in the fund, which will focus on the Algorand ecosystem. See Coindesk: Arrington XRP..."
taxonomy_category:
  - "Uncategorized"
---

# Our New Investment In Algo Capital

August 27, 2019 Michael Arrington

We are very pleased to join forces with Algo Capital, a new $200 million venture fund founded by David Garcia and Arul Murugan. We have invested in the fund, which will focus on the Algorand ecosystem.

See Coindesk: [Arrington XRP Backs Fund’s $200 Million Raise for Algorand Blockchain](https://www.coindesk.com/arrington-xrp-backs-funds-200-million-raise-for-algorand-blockchain)

We join our friends at the Algorand Foundation, Neo Global Capital, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r, Wibson, 11-11 Ventures, DG Ventures, Winslow Strong, Invermaster and other investors in supporting this new fund.

Algo Capital only takes commitments in Algos, much like our own XRP-only policy. We are very excited to be investors in the new fund, and look forward to co-investing in new blockchain projects with them in the future.

Additional coverage:

The Block: [Bakkt investor backs $200M VC fund focused on Algorand blockchain](https://www.theblockcrypto.com/tiny/bakkt-investor-backs-200m-vc-fund-focused-on-algorand-blockchain/)

Finance Magnates: [Algo VC Fund Raises $200M to Promote Algorand Blockchain](https://www.financemagnates.com/cryptocurrency/news/algo-vc-fund-raises-200m-to-promote-algorand-blockchain/)

Yahoo Finance: [Arrington XRP Backs Fund’s $200 Million Raise for Algorand Blockchain](https://finance.yahoo.com/news/arrington-xrp-backs-fund-200-104040883.html)

BusinessWire: [Algo Capital Closes Algo VC Fund at $200 Million](https://www.businesswire.com/news/home/20190827005177/en/Algo-Capital-Closes-Algo-VC-Fund-200)

hypepotamus: [ATLANTA-BASED VCS RAISE $200M BLOCKCHAIN FUND](https://hypepotamus.com/news/algo-capital-200-million-fund/)

Blockchain News: [Algo Capital Closes Algo VC Fund at $200 Million – Doubling Expected $100 Million](https://www.the-blockchain.com/2019/08/27/algo-capital-closes-algo-vc-fund-at-200-million-doubling-expected-100-million/)