In 2023, cryptocurrency venture capitalists raised over $2.2 billion in new capital through closed funds, indicating a robust investment landscape.

Several funds are actively seeking new capital, including Dragonfly Capital, which is aiming to raise $500 million and has already secured half of that amount.

The DePIN sector is witnessing remarkable growth, highlighted by Borderless Capital's ambitious move to raise a $100 million fund, reflecting the sector's increasing potential.

This new fund, DePIN Fund III, is specifically aimed at supporting Decentralized Physical Infrastructure Networks (DePINs), which utilize blockchain technology to enhance connectivity solutions.

DePINs are designed to create decentralized networks that offer greater efficiency and lower costs compared to traditional Web2 systems.

Alvaro Gracia from Borderless Capital believes that DePIN projects are resilient to market downturns, as their value is derived from factors outside the broader crypto market.

Gracia also emphasizes that these projects possess strong fundamentals, positioning them for independent success.

For instance, Helium demonstrates that revenue can remain stable despite crypto market fluctuations, as it relies on subscriber payments for mobile plans.

DePIN projects incorporate innovative tokenomics, including mechanisms that enhance token value through revenue generation and buy-back strategies.

Successful examples in this space include Helium and GEODNET, with the latter generating over $1.5 million in annual recurring revenue.

In recent weeks, at least six venture capital firms have collectively raised over $500 million, showcasing strong investor interest in the sector.

Borderless Capital anticipates fully deploying its DePIN Fund III within the next four years, continuing its mission to address real-world problems and disrupt traditional industries.