Frictionless Capital announces that its Frictionless Fund I has raised $20 million to invest in blockchain projects

Frictionless Capital announced that its Frictionless Fund I fund has raised $20 million to invest in high-performance blockchains and category-defining applications. Frictionless Fund I is backed by a number of global institutions including Franklin Templeton and Foundation Capital, as well as funds such as Hutt Capital, Avalon Capital and Pure Crypto, and is backed by Marc Andreessen and Chris Dixon of A16z, Kelvin Liu of Invesco, and general partners of well-known crypto funds Multicoin, Framework, Coinfund, Big Brain Holdings and AllianceDAO, as well as multiple crypto founders including Solana's Raj Gokal and Anatoly Yakovenko, Axelar's Sergey Gorbunov and Georgios Vlachos, Aptos' Mo Shaikh and Avery Ching, and Avalanche's Kevin Sekniqi. Other notable angel investors include Santiago Santos and Spencer Noon. The fund has made several investments in the past year, such as Backpack, DFlow, Andrena, and Kuzco.