Wormhole and Borderless Capital Unveil $50 Million Cross-Chain Ecosystem Fund
Wormhole, the cross-chain messaging protocol, has announced a $50 million fund aimed at supporting startups building applications, tools, and infrastructure that operate across multiple blockchain ecosystems.
The initiative, unveiled on May 18, is managed by Borderless Capital and supported by over 20 industry leaders including Circle, Polygon Ventures, Solana Foundation, JumpCrypto, and others.
According to Wormhole’s official announcement, the Cross-Chain Ecosystem Fund seeks to make crypto development more accessible while fostering collaboration between different blockchains.
Building Beyond Ecosystem Boundaries
The fund targets projects that are “anti-maxi” — embracing the belief that no single blockchain can meet all user needs. Instead, it encourages innovation that connects ecosystems.
David Garcia, CEO and Managing Partner of Borderless Capital, emphasized that the initiative will help accelerate Web3 growth by empowering developers to think beyond isolated chains:
“Our goal is to empower builders to transcend the limitations of individual ecosystems, paving the way for blockchain applications and protocols to realize their full potential.”
Wormhole: Bridging the Multi-Chain Future
Wormhole enables communication between more than 20 blockchain networks, allowing seamless transfers of data and assets across ecosystems. For example, users can move Ether (ETH) from Ethereum to Solana using Wormhole bridges.
The protocol has become a critical player in blockchain interoperability, powering cross-chain governance and asset transfer tools for major DeFi platforms.
In January 2023, Uniswap selected Wormhole as its official cross-chain bridge between Ethereum and BNB Chain for governance operations. And in April, Wormhole integrated with Circle’s Cross-Chain Transfer Protocol (CCTP) to simplify transfers of USDC between Ethereum and Avalanche.
Backing Web3’s Next Wave of Innovation
With the new fund, Wormhole and its partners aim to nurture startups developing applications that use cross-chain communication to connect liquidity, users, and data between ecosystems. These include:
- DeFi platforms leveraging multi-chain liquidity
- GameFi projects spanning multiple blockchains
- Developer tools for seamless interoperability
- Infrastructure solutions enhancing decentralized connectivity
The fund’s application page describes it as designed to “make building in crypto more accessible than ever before.”
Security and Lessons Learned
Despite its growing reputation, Wormhole faced a major challenge in February 2022, when its Solana bridge was hacked, resulting in $321 million in losses. Developers swiftly patched the vulnerability and reimbursed affected users, reinforcing their commitment to improving the protocol’s security.
Since then, Wormhole has worked to strengthen its codebase, forming partnerships with leading blockchain and security teams.
A New Era for Cross-Chain Collaboration
The launch of the $50 million Cross-Chain Ecosystem Fund marks another milestone in the evolution of decentralized infrastructure. As interoperability becomes a central focus in Web3’s next growth phase, Wormhole’s initiative positions it as a driving force behind a truly interconnected blockchain economy — one where collaboration, not competition, powers innovation.
