The Algorand Foundation has announced a new fund that will invest in DeFi initiatives that will use the Algorand Foundation's native blockchain. The Algorand Foundation is in charge of the Viridis DeFi fund. It will invest $150 million in decentralised exchanges, money markets, options markets, synthetic asset applications, and NFT platforms. The fund's native token (ALGO) is currently trading at $1.96, valuing it at $294 million at the time of publication.