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