Bitget, a leading platform for crypto derivatives and copy trading, has announced the launch of the Bitget Web3 Fund with an initial investment of $100 million during the Hong Kong Blockchain Week.
This fund aims to invest in Web3-friendly venture capital and exceptional Web3 projects to support the growth of the upcoming generation of crypto projects.
The Bitget exchange plans to launch the Bitget Web3 Fund in 2023 as part of its Go Beyond Derivatives strategy. The primary goal of this fund is to promote a positive perception of the digital currency economy and facilitate the expansion of the Web3 ecosystem.
Gracy Chen, the Managing Director of Bitget, stated:
“We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become.”
The Bitget Web3 Fund will explore VC firms and projects worldwide, specifically focusing on potential partners in Asia who possess a well-defined plan and a proficient team and who propose inventive solutions to actual problems.
The Bitget Web3 Fund will explore VC firms and projects worldwide, focusing particularly on potential partners in Asia who propose innovative solutions to actual problems, possess a well-defined plan, and have a proficient team.
The fund has received partnership inquiries from various VCs, including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker, and ABCDE Capital.
Chen emphasized Bitget’s commitment to supporting financial innovation in Asia and expressed confidence in their platform’s ability to serve as a trustworthy, user-friendly, and secure connection between the DeFi and CeFi worlds. She stated that they are adopting a responsible approach and recognize the significance of accountability while handling any innovative project that requires investments.
Bitget announced last month that it had acquired the decentralized BitKeep multi-chain wallet for $30 million. As part of the investment deal, BitKeep Wallet will merge with Bitget’s commercial domain.
Bitget acquired the decentralized BitKeep multi-chain wallet for $30 million last month. As part of the investment deal, BitKeep Wallet will merge with Bitget’s commercial domain, facilitating the expansion of Bitget’s services and improving the reliability and security of BitKeep’s products. This investment is a significant milestone in Bitget’s quest to enter the Web3 space, aligned with its new Go Beyond Derivatives strategy.
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