Borderless Capital Partners: Expects to fully deploy $100 million DePIN Fund III within the next four years

Borderless Capital partner Alvaro Gracia said the agency’s first DePIN fund, worth $10 million, is focused on Helium, investing in Helium’s native token HNT and deploying physical infrastructure on the network. By comparison, Borderless Capital’s second DePIN fund was $20 million, invested in more than 35 DePIN projects, and achieved more than 2x investment capital. The size of the third fund jumped to $100 million, reflecting significant growth in the DePIN industry—not just in the number of projects raising capital, but also in the size of the funding and related initiatives. He pointed out that DePIN is a unique and mature category with strong fundamentals and is suitable for different industries. “DePIN is probably the only category in Web3 where value comes from outside the crypto industry,” Gracia said, suggesting it will be “very bear-resistant.” He noted that during the next crypto bear market, many DePIN projects are likely to maintain their fundamentals and continue to expand even as the broader crypto market declines. He also claimed that another key unique aspect of the DePIN project is their token economics design, which helps transfer revenue into the token value, “We call it the token value accumulation mechanism, and in some cases, This mechanism involves a buyback and burn strategy.” Overall, Gracia said, DePIN as a category has the potential to not only create infrastructure, but also solve real-world problems and potentially disrupt the existing Web2 industry. Borderless expects to fully deploy its DePIN Fund III within the next four years. (The Block) Previously, Borderless Capital announced the launch of its third decentralized physical infrastructure (DePIN) fund with a scale of US$100 million. Investors in the fund include the DePIN-focused blockchain Peaq, as well as the Solana Foundation and Jump Crypto et al.