On July 10, Frictionless Capital announced that its Frictionless Fund I fund has raised $20 million to invest in high-performance blockchain 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, as well as Marc Andreessen and Chris Dixon of A16z, Kelvin Liu of Invesco, and general partners of well-known cryptocurrency funds Multicoin, Framework, Coinfund, Big Brain Holdings, and AllianceDAO, as well as multiple cryptocurrency founders, including Raj Gokal and Anatoly Yakovenko of Solana, Sergey Gorbunov and Georgios Vlachos of Axelar, Mo Shaikh and A very Ching of Aptos, and Kevin Sekniqi of Avalanche. 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.