Crypto trading platform Bitget is launching a $100 million fund to invest in Asia-based Web3 startup projects.
In a new press release, Bitget its new “Web3 Fund” will target crypto projects in Asia that have an experienced team and a focus on real-world use cases.
Says Gracy Chen, Bitget’s managing director,
“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. That is why the Bitget Web3 Fund will strive to seek out projects that have the most impact on this process.
We are taking a fully conscious and responsible approach in this regard and know how important accountability is when dealing with any innovative project requiring investments. We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient, and secure link between the worlds of DeFi (decentralized finance) and CeFi (centralized finance). Our team of analysts has already outlined the criteria for project selection and will adhere to them strictly.”
Per Bitget, other venture capital firms have already reached out to partner with the fund, including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital.
The creation of the fund is the latest effort under Bitget’s business strategy called “Go beyond derivatives,” which seeks to speed up crypto adoption.
Past measures include last month’s $30 million investment in crypto wallet BitKeep, making Bitget its largest stakeholder.
