In a bold move toward realizing the concept of libertarian societies known as “Network States,” a new investment fund, the Balaji Fund, has been introduced by technology industry luminary Balaji Srinivasan. The founder of the fund has committed his personal capital to the initiative, with backing from influential tech leaders such as Coinbase CEO Brian Armstrong, AngelList co-founder Naval Ravikant, and venture capitalist Fred Wilson, a prominent figure in Coinbase’s journey to going public.

Srinivasan, the former Chief Technology Officer of Coinbase, disclosed the fund’s primary objective to invest in promising companies, particularly those engaged in the development of startup societies and network states. The announcement also emphasized the opportunity for others to contribute to the advancement of network states, positioning the Balaji Fund as a vehicle to support this vision.

The concept of the Network State has been a decade-long ideological pursuit for Srinivasan, manifested through talks, a free online book, and a recent conference in Amsterdam dedicated to advancing the idea. At its core, the concept addresses Srinivasan’s perspective on the decline of the Western world, attributing it to the rise of centralized states that he believes disempowered wealthy industrialists through various mechanisms such as antitrust laws, securities regulation, central banking, and adversarial journalism.

As the Balaji Fund takes shape, it signifies a notable step forward in the pursuit of libertarian ideals and the creation of network states, garnering support from key players in the tech and cryptocurrency realms.