DWF Lab has announced the $20 million Cloudbreak Fund to support Web3 pioneers in the Chinese region. The fund aims to support initiatives in the Web3 field, covering GameFi, SocialFi, Memecoins, derivatives, and 1st/2nd layer infrastructure. The goal is to provide necessary resources and support to these projects to help them realize their full potential.
What drives this support?
Andrei Grachev, Managing Partner of DWF Lab, emphasized the inspiration behind the fund and his admiration for the founders in these regions. Since 2018, DWF Lab has been working with these innovators and has recently witnessed significant growth in their businesses. This development underscores the urgent need for the professional assistance that the Cloudbreak Fund aims to provide. Visit COINTURK FINANCE for the latest financial and business news.
The establishment of the Cloudbreak Fund marks the careful efforts made by DWF Lab to harness the innovative potential in these fields. With a strong network of over 700 projects and honors such as Best Liquidity Provider by Bybit 2024, DWF Lab is strategically positioned to support these efforts.
Why is the interest in venture capital growing?
The launch of the fund coincides with the increased interest of venture capital (VC) in Web3. Total investments in Web3 companies in the first quarter of 2024 increased by 55% compared to the previous quarter, indicating a renewed enthusiasm for venture capital. Notably, the number of VC investment deals in Web3 increased by 36%, with many focusing on artificial intelligence and gaming-related protocols.
The significant amount of funding in this industry further demonstrates the strengthening interest. For example, Paradigm announced a $225 million funding for the development of a new 1st layer blockchain network for Monad Labs, and Berachain raised $42 million in Series B funding. Additionally, 0G Lab raised $35 million in seed pre-round funding, focusing on data availability blockchains for artificial intelligence protocols.
Key gains for innovators
– With the professional support of the Cloudbreak Fund, Chinese-speaking Web3 projects have unique growth opportunities.
– The increased interest of venture capital in Web3 can open new avenues for funding and collaboration, and collaboration with DWF Lab can leverage its extensive network and industry recognition to advance projects.
In conclusion, the $20 million Cloudbreak Fund from DWF Lab provides an important opportunity for Web3 innovators in the Chinese region. With tailored support and a noticeable rise in venture capital interest, these projects are well-positioned to thrive and realize their potential in the expanding Web3 ecosystem. Follow our news on Telegram, Twitter (X), and Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.
