Borderless Capital GP Álvaro Gracia Joins XMAQUINA

Who is Alvaro Gracia?

Álvaro is a General Partner at Borderless overseeing the DePIN Funds, where he has invested in and advised more than 35 projects. An economist with an MBA, he previously founded a passive crypto fund in 2016. Before joining Borderless, Álvaro was Head of US Investments at Telefónica in Menlo Park, CA, representing the company as an LP across five global VC funds and serving on the boards of multiple portfolio companies.

Borderless is a leading Web3-native investment manager fostering dynamic blockchain ecosystems. As pioneers in DePIN (Decentralized Physical Infrastructure Networks) Borderless is an early investor on the top projects in the category, including GEODNET, Helium, Peaq, Wingbits, NATIX, ROVR, Mawari, Teneo and many others. 

With a broad background in Web3, venture investing, and strategic leadership, his experience spans fund management, decentralized physical infrastructure, early-stage investing, and guiding global technology initiatives.

Q&A

What is your vision for the future of robotics, automation, and the decentralized machine economy?‍

My vision is that robotics, automation, and the decentralized machine economy will converge into a global, permissionless infrastructure layer that powers the physical world. As robots and connected devices proliferate, they’ll increasingly operate as autonomous economic agents without centralized intermediaries.

Decentralized networks will provide the trust, incentives, and coordination needed for these machines to scale efficiently across industries. This shift will unlock entirely new markets. 

Ultimately, I see a future where millions of machines collaborate seamlessly, owned by communities, enterprises, and individuals, creating a more efficient, transparent, and democratized physical economy.
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What drew you to the XMAQUINA DAO?
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As early investors in the DePIN category and the Peaq ecosystem, we’re proud to back a project poised to shape the future of robotics and unlock public access to the Robotics Capital Markets.

In your view, what opportunities or challenges is XMAQUINA best positioned to tackle?

The opportunity is to first become the go to vehicle for Web3 capital to access and get exposure to the robotics sector, ultimately XMAQUINA can become the liquidity and coordination layer for robots, aligning incentives across the entire value chain and accelerating adoption where centralised solutions struggle to scale.

Career Highlights

• General Partner at Borderless Capital, leading the firm’s DePIN investment strategy.
• Invested in and advised over 35 decentralized infrastructure projects including Helium, Peaq, GEODNET, and NATIX.
• Founded a passive crypto investment fund in 2016, focused on long-term exposure to the digital asset ecosystem.
• Former Head of US Investments at Telefónica, managing VC fund relationships and sitting on multiple portfolio company boards.
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“Álvaro understands how capital, infrastructure, and robotics are converging. He’s worked across venture, telecom, and DePIN long before most people saw where this was headed. His experience gives us a clearer view on how to build systems that work beyond theory.”

— Jessica Alvarez,  Founding Delegate at XMAQUINA

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